All Forum Posts by: Account Closed

You could try clicking on the property managers on Airbnb for other comparable properties, check their reviews, and see if the hosts handle a handful of other properties.  Then reach out to them through Airbnb once you've initially vetted them.  

Seems creative, but wouldn't a car loan be amortized over a short period of time (5 years or so)?   Versus a home loan with a 30 year am.  Also, would want to ask my CPA about whether the car payments count as expenses again the rental income as well.  Just a couple of my thoughts. 

Evan,

We have a handful of properties in Kill Devil Hills and Nags Head.  They do well and are booked about 70% or so out of the year. 

If you want to get really good data then you can get PriceLabs Market Dashboard data to get average occupancy by month, along with prices for comparable properties.  And, of course, you can look on Airbnb to see what the rates and occupancy are for the near term.  Smaller properties don't book out as far in advance as the larger homes.  Larger homes are usually rented out through rental management companies, and typically book up well in advance of the next high season.      

Happy to share what I know if you want to connect.

Scott 

@Sanjeet Dighawa we’ve had no problem renting to lawyers. We did get a few more markups from them on our lease though. 😊

@Jerome Morelos it’s up to you. Having a texture like this is the norm in many places. I’m in Denver and knockdown texture is common. Doubt renters will care, so I’d save the money. Probably something more useful to do with your hard earned cash. 😊

@Joey Tuckey I'm in Central Park too. We have a guy that does long term (he might take on medium term) rental management for 7% and he's been good - my wife has his contact info. We also use our primary house as an STR when traveling. Happy to connect.

@Evan O'Brien You can get the market dashboard data from PriceLabs. This includes the monthly occupancy and average nightly rates for comparable properties (you set the filters). You can do this for each of the 12 months and sum them. Then apply any factors you want to build in buffers.

@Jack B. You sound scared to quit your job. I get it. Change is hard. Just take the leap. What’s the worst that happens? You have to get another job at some point? So what? You already hate the one you have. It’s the most difficult choices and conversations that are often the ones that have the best result.

You’ll watch your finances closely once you don’t have a job for a while until you’re comfortable and realize you’re okay. It may also motivate you to find ways to optimize your income and enjoyment.

@Alicia Marks Yep. I consider it with beach properties by looking at the published coastal erosion rates by the local county. Want to know how many feet I’m losing a year and what’s being done to re-nourish it.

And in Colorado we have tons of fires in State and smoke that seems to blow in from the west every summer. It’s not as desirable as it used to be in the summers when you have to check air quality before going outside.

@Barry Ratliff I’ve had good success with Fort Capital in Texas. They focus on light industrial and could be one asset class and geography worth looking into. DYOR