All Forum Posts by: Sylvia Santelli

Hi Lina -- I'm based in Dallas but wouldn't know the laws for the city and county of Kyle, Texas. Seek out local real estate groups to get an idea and network around local regulations. But the good news is Texas is a great spot for MTRs. I'll also add that Bonnie's group is a great resource with operators from 0-Bonnie. LOL.

Weclome!

I'll also add, I had the best luck when I responded RIGHT AWAY. Sometimes even calling them as soon as I saw the inquiry.

You do have to manually move people from Furnished Finder to your system. I had a few years where all my leads came from there, and this past year not as many. I use Jurny as my PMS to help me process guests. 

Don't get overwhelmed! If there is someone's busines model you aspire to, see what they are doing. There is always SOME manual work, but you can cut out a lot of the back and forth-- definitley.

You can also search for local FB groups that specialize in longer term stays. There is no "secret" to finding them--- you just have to search, but most major metros have them.

If there are people there will be a need for MTR-- getting your location, unit size and pricing to align is the magic sauce. Pull out a spreadsheet and go through the tools everyone mentions to run some comparables and take note of photos, amenities. 

I got this e-mail too. I haven't booked anyone from FF this past year, but I might keep one unit open to keep the conversation open. That's a significant discount --- I wonder if they are seeing a decrease in homes posted.

How big is the property? 

The general rule around here is 2bedrooms and less will do well on Furnished Finder + airbnb/others. Once you get into 3bedrooms and up Furnished Finder won't be as reliable as a channel to find tenants. It just has to do with how each platform markets themselves and what kinds of guests come through.

I am an investor and co-host in Dallas, Texas and that's generally the posting rules I go by. But experiment and see what happens in your market with your specific property.

Hello!

Tip #1 - no such thing as one perfect market 

There is lots of data on Bigger Pockets and MTR experts that have released rankings of top cities for next year, but remember it's not just about the purchase-- it's also about the operation. If this is your first purchase, Remember it is also okay to pick your closest metro as a starting place. It would be the easiest to network and find all the experts that will be needed to make it happen. There are successful real estate investors in your local market too. 

I'm an investor and co-host in Dallas, TX--- and that's where I live. 

Hi Itay--- it can work, just connect with the rent by the room community.

There are pros and cons to every strategy. As you speak with prospective guests, just ask them and do some QA testing. Call them up and get an idea of their needs, why they are coming to town. This will help you make a more informed decision. 

I invest and co-host in Dallas, TX using the MTR strategy. For now I'm renting whole units.

Hi---

Great to hear you are connected with padsplit as they seem to be the experts in this space. 

I am a investor and co-host in Dallas but focus on renting out whole units. Good luck!