All Forum Posts by: Steve Neill

My daughter goes to Alabama, we live in California. Universities have figured out every hole to plug to prevent that since about 55% of the students are from Out of State. We own two properties in Alabama, until we have Alabama drivers license's with our address and proof we reside there, it ain't happening. 15 months will be a different story when we move there. College housing doesn't pencil there at todays prices and STR nowhere near as lucrative as other markets.

I have done the same, all for the same reasons you did. I'm about the same with respect to build cost but only 67k into the investment. Same region as you and did just under 140k last year, realistic sale price would prob be around 1M to 1.1m for mine, its harder to come by to find buyers these days to pay 10x gross, last spring with lower interest rates would have been a different story. Most investors I know looking back there with these interest rates aren't budging unless there is meat on the bone as there still is a work component to this model and its not for everyone. Building another starting next month hoping to do similar numbers. Correct, lots are very hard to come by that are reasonably buildable and are not way overpriced. If you can really do 185-200k I would keep, look for a new lot and repeat, or just keep with the 150k injected as your COC is still gonna be high. It's harder to find STR's that throw good cash flow these days, I have been looking in multiple markets all across the country. I have also thought about selling and just paying the capital gains or 1031 into something else, but what are you gonna buy or 1031 into to throw that kinda cash at that entry cost? Depends on your mission, income stream or quick cash. I'm wanting to slow down on other things and looking for the income stream.

Our cleaners notified us yesterday they could not find TP on shelves in Sevier County to please send tp and they will reimburse.  Found some on HDSupply and Grainger.  Most hospitality companies were on back order or sold out as well as staples and office depot.....

Our first nightmare guest.  Airbnb Guest privately emailed my wife after she thanked them for staying with us, we learned a new cleaning employee apparently did not do a good job upon their checkin.

My wife replied and apologized for the cleaners misses.  Wife contacts cleaning crew owner and forwards the guest complaint, the cleaning crew owner calls back and happened to be onsite personally after they checked out.

Come to find out, place was a mess.  Since they did not checkout on time, she witnessed 2 full size suvs of people and a dog.  Dog hair everywhere even on my brand new sofa.

Wife called Airbnb to see how to handle this since we are new and have had great recent reviews, since they obviously busted our house rules having more then max 6 guests, violated our no pet policy, and late checkout.

So Airbnb gave us an $85 cleaning credit back to us, which I was shocked they would do.  Which was basically spent on pest control and extra cleaning.

Guest has left us a review, and of course we can’t see it until we review them, guest does not know we found out how they left our place.

How would you respond with a review of the guest?  My gut says to call them out on it, my wife is more nonconfrontational.