All Forum Posts by: Schuyler Witt

Can anyone assist in finding the property taxes for properties in NC?  All of the assessors websites want parcel number or current owner's name.  Any tips on finding that information or streamlining this process?

@Joe J. Thank you! Yes, that is very helpful. The flexibility you just described answers my confusion. I appreciate it!

Thanks, @Joe J. So it has nothing to do with having money set aside to continue paying monthly loan payments when the property is vacant (and therefore not covering the loan pmt for the month)? I guess I am trying to figure out if I need to set aside more for vacancy while there is a loan on the property, since I'd need to pay both my mortgage co. AND myself should there be no tenant.

This may seem like a very basic question: we are trying to figure out what the set-aside vacancy rate expense that is on the BP calculator and that investors seem to use even covers? Is it solely to cover mortgage payments as long as the property has a loan on it? Or is it to pay yourself so that your cash flow is not interrupted when the property is vacant? Or both? Another way of phrasing it is--do you still set aside a vacancy rate expense once the mortgage/loan is paid off? Thanks for your help! Schuyler

You guys are right, and inspiring! Thanks. 

Thanks to both of you. My other consideration at this point is what you mentioned, Jarrod--finding a good cleaning crew and establishing a smooth working relationship with them. May I ask--is your property in a gated community/resort complex/etc (somewhere that would have their own cleaning staff)? Or are you looking at independent cleaning companies?

It's good to hear people testify that the modern options--Airbnb, Homeaway, etc--are legitimate even in markets that cater to older folks.

My wife and I are new to vacation rentals. We are beginning the process of turning a family-owned beachfront condo in South Carolina into a rental. We prefer to self-manage because we have the time and vacation rental managers charge ~25% in this area (Hilton Head Island). However, in all my research, it seems like one specific Vacation Rental company pretty much dominates the short-term rental market on the island. The target demographic is mostly families and retirees, so Airbnb/VRBO usage hasn't caught up with other areas. I am concerned that if we choose to self-manage, and therefore are not on the main Mgmt Co website that shows up at the top of google results, we won't get enough traffic.

Any experience in this regard, or any advice at all?