All Forum Posts by: Selena Walsh

@Vijay Prabhakaran I am doing the same in Minneapolis so similar concerns with winter months but less tourism and probably less competition as well in my market compared with yours.  After going through one winter season so far, I am much less concerned than I was when starting.  My experience so far has been 18-24 nights booked per month during winter months.  Although I'm also charging slightly lower prices in winter months. I've also been surprised at the strong demand in fall (Sept-Oct) as well as the demand for medium-term (1-3 month) stays.  

@David Barnett Looking mostly at duplexes, potentially a SFH that need minor rehab in B or C markets. Plan to use for a mix of LTR and STR, will depend on the area/demand. Solely focused on Minnesota but have our eye on a few different areas, some in the Twin Cities, some in smaller towns which have enough of a draw to try STR (i.e., local vacation areas). Price point varies based on area. We are planning that our next property will be in a smaller town / local vacation area with price range $100-150k.

Anyone have recommendations for private or hard money lenders for (relatively) new investors.  We have 2 rental properties, looking to expand.  Primarily focused on finding places with good, near-immediate cash flow or with minor rehab, then cash flow.  Looking to approach hard money lenders for the first time and just looking for guidelines on best sources to approach first. Any input appreciated. Thanks!

I tried to post this morning but it was removed... guess it was considered advertising..??  My listings on Airbnb are 14451032, 16285717, 16885299.

@Account Closed All numbers I mentioned are nights per month.

@John Leavelle Thank you, this is helpful. I know it obviously varies by region/state but any suggestions for what to look for in short term financing (hard money/private money lender) or where the best place to start with this would be?

@Matthew Lindquist Have yet to have a full year of data, but would say winter months 20-24 nights; summer months 24-30 nights; fall and spring somewhere in between, though fall is actually similar to summer, especially in Sept and Oct. Have had a fair number of inquiries for 1-3 month stays - traveling professionals in town for a project/contract, people renovating their own home, family members visiting for an extended stay, etc. I offer discounts for weekly and monthly stays so it brings the avg price/night down but occupancy up! I have one 3BR SFH, one 2BR duplex and one 1 BR duplex so the price range is fairly wide - anywhere from $85 - $169 / night depending on season, week day vs. weekend, etc. The sweet spot for pricing is ever-evolving. :)

I currently have two properties - 1 SFH w/ conventional loan and 1 duplex w/ FHA loan. Both were originally acquired as personal/owner occupant properties but are now being used as short-term rentals. Original goal for the STR was primarily cash flow.

Now, I'm just starting to get more serious about BRRRR and want to buy a third property soon. Being a relative newbie, I'm still trying to figure out the best option for financing. I have good credit and income and along with my partner we will have a 20% downpayment. Do I apply for a regular conventional mortgage? Is it based on my personal credit and debt to income? If I keep buying properties won't this eventually get "tapped out"? Are there other options we should be pursuing? Hopefully these questions aren't too basic... I guess I'm looking for advice for how to approach financing my first real BRRRR. Thanks!!

@Ariel Smith Not looking to book directly, just drive traffic to my listings.  I have my Airbnb listings linked from my website which I'm also trying to drive traffic to with content.  My question was how else can I drive traffic directly to my Airbnb listings...  In terms of Airbnb SEO - I have a couple new listings which are getting a little buried in the Airbnb search so trying to increase the number of clicks they get.  I'm trying to make sure I consistently update the listings and have plenty of pictures. I also mention local attractions in the listing text... but if you have any other Airbnb SEO tips or resources to offer, would greatly appreciate!

Thanks for the input @Ryanne Hodson I created an account for our Airbnb properties about a month ago (@stayminnesota) but I need to spend more time on there and also be more intentional about putting links in the profile.