All Forum Posts by: Richard Ibeh

@Alex Gera What areas are you looking to do STR? I managed a rental in Palm Beach gardens that did extremely well. Lake Worth was quite poor and Lantana was extremely strict as they have a 30-day minimum restriction. Boca also has alot of restrictions as well.

Depending on the size of the home and location you will make well over $2000/month.

@Kyle Hauge I'm personally trying to think of more out of the box ideas myself. The majority of us are 99% reliant on inbound web traffic and have forgotten about doing our own outreach to drive traffic.

You can do some research on Facebook. Look for groups that might have been created for events in your area and advertise your listing with a special discount. Advertise to your own personal network and depending on the size of your place you can connect with travel nursing companies who are always seeking short-term housing for their staff.

I personally haven't tried any of these but just throwing ideas out there. If you come across anything successful please do share. Thanks!

@Adam Faber I would do a flat fee or % per booking so you are only paying for results. Evolve as everyone mentioned conducts this for 10% so I would use them as the benchmark in terms of pricing. 

If you have a luxury property I would do a flat fee. If you are on the lower end of the scale I would do a percentage.

Example:

$5000 reservation = $500 (10% percent per booking) however, a VR would gladly do this for $100.

On the flipside, if your rental is around $500 per reservation then 10% is only $50.

@Tomer Shani I'm not sure of the legal issues for your area but my friends always rent their homes by the bedroom and earn more money that way.  Just set the rules and get some digital locks so everyone feels safe locking their door when they leave out. It's alot less headache than one would expect...just vet them out and as you start getting into a cycle have your tenants vet them out to make sure it'll be a right fit.

@Anu G. Miami Beach is strict - 70% of the area is restricted from STR. However, off the beach is pretty normal. The county has a standard process to get your rental license to legally operate.

@Amy Zemser Hi Amy- just by viewing the titles for each video I can already say 99% of those lessons he is teaching has already been answered in biggerpockets. 

The only piece of advice that has not been answered here(if it applies to you) is how to approach landlords on subleasing their unit for Airbnb + where to find them to begin with.

@Charles Smith Windsor Hills is the #1 community for Disney Investment rentals. When I was going to invest in that area 99% of the realtors/managers said Windsor Hills only. Most managers even said they will only take rentals in Windsor Hills so that should be a very strong indicator of where to look.

Other places - Emerald Island Resort, Reunion Resort/Champions Gate. I have a vacation rental realtor in that area if you need their contact.

@Account Closed  Hi Michael - what were the positives/negatives with Ciirus? I  use Escapia and need to migrate to another software asap so I setup a call with Ciirus for this Monday.

@Syed Lateef Sounds good. 

@Luke Carl I've actually been researching this myself as I'm trying to make it standard across all rentals. Normally would just go Target and pick up white sheets but most top hosts say 250 thread count minimum for King/Queen and 180 thread count for Twin.