All Forum Posts by: Pancham G.

@Aaron Cooper

There are already a bunch of advice here. 

I have a vacation rental and i have a person who is managing vacation rental for me. My PM, an investor himself, has a lot of long term rentals but no vacation rental. I wanted to find a PM for my rental but believe it or not, there were no PMs who were willing to take the undertaking. 

So, from the point of view of an investor who has a vacation rental and was looking for a vacation rental PM, I would say that you need to go out there and advertize. You have to let everyone in ur local REIAs know, and have a website. Contact a few vrbo/airbnb owners.

As far as the management goes, its not easy. You need to make sure that you have a proper staff to do the turns before and after each guests. Guests will nit pick on everything and their reviews will define how much business u actually get. Also, you will be on call during their stay. If they need anything, you will have to provide. For example, once we had the iron go bad for one of our guests who were there for the wedding. They really needed a new iron right away. Someone has to be ready to go buy a new iron and provide it to them. 

@Derek Duplechin Great! It pays to take action and just go out there and do it. Glad that its working out so far. Good luck with the rehab.

@Michael Krassos It would be great if you can share his contact information with me. Thanks

@Joseph Fradelakis Hi Joe, welcome to BP! Always good to see fellow long islanders on the forum. I am also looking for a 10-20 unit building. How about we catch up over coffee or meet at one of the meetups...

@Alex Franks lol @ white castle. I would love to pick your brains on REI and the south east market. Let me know what time works for you and we can work something out.

@Jerryll Noorden - great story and inspiring. Hard work pays off!!!

@Brian Dalton: I think it really depends on what kind of return you are looking for. To me the monthly positive cashflow looks too low. Depending on the condition of the properties, that positive cashflow will be gone in one major repair. Also, you have added anything for the lawn/utilities/snow/etc. I am assuming everything is paid by them? I would also factor in some repair budget. Also, the CoC looks very low. Both of those areas are appreciating, so if you are very bullish on those sub locations, then it may be ok but I would be watchful.

wow @James Wise. This is truly impressive and inspiring!!! Anything is achievable when you put your mind and heart to it...

john.... This is amazing.... I like the fact that you came out of the analysis paralysis mode and took action...

Good luck for the future deals. 

Hi @Chris Ntwali, I have a few success stories specific to long island but they are a few years old now. Started focusing on out of state for 1 year or so. Now looking again locally. There are a few people I know who are doing really well. 

Very nice @Michael Noto. Looks like a great cashflowing property. I agree w/ the comment on the comps... I will take it the income all day.