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All Forum Posts by: Seth Wiseman

Seth Wiseman has started 1 posts and replied 2 times.

Hello everyone! I am looking into potentially making my current home into a short term rental on Airbnb once my wife and I make the move to a different residential home for some extra space. We are in Louisville, KY in a pretty up and coming neighborhood that has a decent amount of good comps for short term rentals. What I am wondering about is how to estimate utility costs if we were to make the move to making it a short term rental? How do people estimate their monthly electric and water/sewer bills? We obviously live there now and know what it costs for the two of us to live there full time, but I didn't know if it would possibly be less than what we pay currently since we would have an occupancy rate that wasn't at 100% every month. Thanks in advance! 

I had a question about insurance. As a real estate investor, if your property has a mortgage on it, you’re likely to be paying for property insurance in escrow. Does this insurance differ than normal insurance if you were living in the home? I.e., if you were living in the home it would be homeowners insurance versus landlords insurance with you holding it as an investment property. Or do you have to buy insurance (such as liability insurance or landlord insurance if not included in escrow) on top of that insurance being paid in escrow?