All Forum Posts by: Scott Stahr

Hey BiggerPockets!

Hoping to get some advise on how to draw more interest into my STR near Deep Creek MD. The house is 5 minutes from the lake and last year we had around bookings for around 60% of the year. This year things have slowed down and we're looking for the best ways to capture more interest in the rental. We have already purchased a hot tub and are expecting delivery of it in August.

Since we're not on the lake we're already at a disadvantage so I was hoping the community could provide some of the biggest draws to help boost rentals.

My wife and I have a property that we would like to start using as a short term rental in the Deep Creek Lake area in western MD.  We're doing our research on property managers but after listening to Avery Carl's podcast episode, we're also looking into the possibility of self managing.  For those of you who self manage STRs, how do you keep the property stocked with essentials, such as paper towels and toilet paper.  Is this something that the cleaning crew usually takes care of?  I guess the same question can be asked of sheets and towels as well.  Any tips or tricks to keeping the property stocked would be greatly appreciated!

@Parker Borofsky that definitely helps clear things up.  We weren't looking to move our primary residence until next year so we should be set.  Thanks!!

My wife are I are looking into purchasing our first short term rental to use as a vacation home and rent out when we're not there.  We are also looking to move into a new primary residence sometime in the near future and are worried that without a long term lease we may not be able to get the home we desire.  How do banks view short term rentals in regards to a new primary residence mortgage?

My wife and I are very interested in getting our feet wet with a vacation rental.  We don't have any experience in vacation rentals and were wondering what some of the gotchas we need to look for before getting started.  Could you please share any helpful advice you may have in getting started in vacation rentals?

I'm not understanding the refinance aspect of BRRRR.

In my scenario, I'd like to rent out the house I'm currently living in. The house was a foreclosure and I was able to get it for way under market value. The idea was to utilize the BRRRR methodology to refinance my current house to the appraised value and use the cash to purchase another house. I guess I have two questions:

1. Can the BRRRR methodology work in my scenario or do I need to have a renter in there first?

2.  Say my house is worth 200K and appraises to that value.  When I refinance to the 200k 30 year loan, the bank will give me 150k?  I don't understand this step at all.