All Forum Posts by: Patrick Osterling

Hi all, 

We just picked up a new client in Big Sky, Montana and we’re looking for recommendations. Does anyone know a reliable cleaner or cleaning team in the area? Also, any suggestions for a handyman who’s good with general maintenance and repairs? Thanks! 

Hey Andrew, I just spoke with Vintory yesterday about a potential inventory growth program. You mentioned not having a good ROI with them? Could you share a little more around which solution you were using (email, direct mail, retargeting etc.?). Also, I agree with organic growth, we get some inbound leads and referrals and have a high conversation rate closing them, and they've been great clients so far. Thanks!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $360,000
Cash invested: $96,000

Purchased my first investment property in summer 2017 while living in SF, a new construction home intended as a long-term buy-and-hold. Initially rented to long-term tenants, it generated modest cash flow of a few hundred dollars a month with a 4.25% rate. Refinanced in 2020 to 3%, boosting cash flow to $500/month. In 2021, after completing the BiggerPockets STR course and analyzing market data, we transitioned the property to a fully furnished premium short-term rental after the tenant moved out. It now cash flows ~$3,000/month with over 100 5-star reviews across Airbnb, VRBO, and Booking.com. Our guests have ranged from newly hired UNR football coaches relocating their families to individuals traveling for medical care, couples on ski leases for Mt. Rose, and beyond. Guests also include families visiting Reno, travelers relocating, weekend visitors, traveling workforces, and Tahoe adventurers. Reno's STR demand has been unexpectedly strong and rewarding.

Patrick, not sure if you meant this or not, and don't mean to be redundant, but you could create a video tour and just sent the prospective tenant the link. And, to your point, often times the property is already rented so a showing wouldn't be feasible. I think I've only had 2 or 3 people ever ask to see the property in person. Photos, video and reviews should be sufficient. 

How could that be? VRBO does not have exclusive rights to your property. How could they see your other booking? I've never heard of this.  

We recently signed up with Steadily, which is the preferred insurance partner of FurnishedFinder. We also use Travelers and Proper. However, we've never actually filed a claim, so take this with a grain of salt.