All Forum Posts by: Sarah Hansen

just curious on this one, how have you found the price of stays differs from STR to MTR rental? Do you use rent estimators for that as well? definitely curious how this all ended?

@Jenn Richardson ooo love this thank you! SO you do MTR + STR do you use the same place then? How does that work out with taxes and what not? Just curious if you set things up differently at all if it's a MTR vs. STR strictly. That's wonderful!! thans for the info <3

@Bruce Woodruff just curious with your STR do you self manage or use a management company? I glanced at your profile so I see you're retired which is awesome! Congrats on that :). It's true the STR make more money, but then there's the risk of stability and whether or not the area laws would stay that way or possibly change. However, yeah, I'm wrestling with that!! I'm just digging in to see if maybe there is a happy medium so I can do both MTR and STR. So it's the initial phases of digging in!

@Mike Dymski that's a great idea :). SO really for MTR just relying on the websites themselves not the websites that provide that stuff for you. 

I've been chatting with a number of others who have done STR and also a couple different CPAs but honestly I'd say any CPA would work. But one thing I did was make sure to ask them if they have worked with rentals before. In your case you're going to want to ask them about STRs. But in general any CPA will be able to help :). It's definitely worth it too!!

Hey all!!

I've been trying to investigate MTRs vs. STR vs LTR. Just curious has anyone found a way to analyze revenue from MTR vs STR? And things such as the difference in taxes, insurance, cost of start up, cost of management, etc. I'm obviously digging into each of these bits. My thought was to have an AIRbnb and allow for both STR or MTR, but based on what I'm reading so far might be easier to instead have each unit be either just a STR or just MTR for the management company fees, taxes, and insurance sake? But also just figured I'd get an idea of how those of you who do MTR have gone about analyzing the value of it and doing the initial analysis phase. So lots of questions all in one. Just haven't been able to find much on MTRs. Obviously it feels like it's done less often so that's likely why.

First off thank you to all who responded huh are a wealth of knowledge and I’ve begun the business plan!! 🥳😁. 

Started a good amount of market research and found the general areas. Also created a giant spreadsheet comparing numbers. So thank you!! 

@Heigo Protten I really wanted to say thank you as well! That was amazing info and detail. Truly I’m going to go check out your example with my week of vacation coming up to just write it all out. Just curious, for your digging into ideas and looking at compete analysis, do you use tools like mashvisor or airdna? That’s what I’ve used to do my research thus far but maybe it’s better not to. And if you have an recommendations on templates or such things for calculating unit economics? Totally fine if not! I’m in the process of thinking how I’d set it up. I’ve already got one I used for comparing cities in terms of Airbnb history, occupancy, value compared to cost of home, etc. And then another looking at politics, crime, etc. To know the area. I did see you’ve got a business plan template too so that’s wonderful! 🙏

• Im buying a home in Texas as a person place and then planning to start buying properties. I’ve got another post on business plans so thank you all for that! I’ll respond soon!! 
  
• But another question, getting loans with income at x amount, having a mortgage of x amount, then lets say I’m able to buy 1-2 single family and Airbnb those.  Am I hosed and can’t buy any other properties because of the bank won’t consider that real income after that point because of my income cap and other debt from the other 2 loans Or would they count the income from the Airbnb? I’ve heard banks don’t like lending to airbnbs or counting them as valid income because they see it as hospitality? Does the 3-6 month Airbnb option do anything to that too? 

I agree with both of you for sure! So far I've done both I believe. But I'm wondering if there is a better way to go about it and set up the long term play. Meaning, I've researched specific areas and I'm willing to go out of state (actually planning on a few areas specifically). However it's the structuring of how to buy them in sequence, the long term strategy, how to set up the business, I'm not sure what all goes in to a solid business plan for real estate. So I was hoping to see what  you all have done :) 

Hey folks!

I'm new to investing. But I'm looking at getting very serious about it. I've been doing a lot of research in various types of investments and areas. I'm currently living in WA state and my house has gone from 550k to 950k (estimates) sooo I'm planning a move to Texas here in the next few months. With that being said here's the outline plan:

1. Buy personal home (likely 5-10% down so I can spend the rest on investments)

2. Investing in an AIRBNB with my dad(he really wants to do texas so fine) 

3. Investing in AIRBNB (florida) (depends how #2 is doing with a management company otherwise I'll go to multifamily instead) 

4. Unknown maybe multi family or airbnb (depends how 2 & 3 are doing) 

I'm hoping to do all of this a few months apart and using all the revenue from the sale of my house. I might have a partner on the 3rd one well. But for now banking on doing it solo. I was speaking with a lender who said LLCs might not be worth it and might actually be detrimental or my goals and speed of purchasing. The end goal honestly is to quit my W2 job soon. However, I know it might take some time. I'd like to develop a solid business plan but to honest I'm not sure where to start or what all to include in a well formed business plan. I just know I'm serious, I've done a lot of research thus far. But I'm ready to take action. Any advice, resources, and links would be wonderful! I've spoken with a number of realtors, visited various areas, and so I know I can do this. It's making sure I set myself up for success.