All Forum Posts by: Joey Banasihan

@Nicole Heasley Beitenman congrats on the first one! Here is my feedback, my hope is you are super super sucessful! Here is my property as a reference: https://www.furnishedfinder.com/property/406995_1

- Photos: Were they done by a professional? Professional photography can truly make your property stand out from the very begining and showcase your property in its fullest potential. Make sure your best photo is your first photo. 

- Fake Plants: Adding more fake plants I think will contrast and extend the coziness of your place! Having something in every space and room can really warm/cozy up the space.

- I agree with @Max Guerrero consider some stand out pieces and spend a bit more if possible; larger art work that is modern and sticks out, unique looking standing lamps, etc.

- Guest Experience: The last thing is really going to be the guest experience; ensure you are doing a thorough job around screening, references, background checks, etc. Create a more unique property hand book via canva that what Furnish Finder provides, something that lists all of the unique and specific amentities you provide. Consider also hiring a cleaner to come through once a month paid by you, rather than the guest, so you have eyes to see how the property is and also keeps the place top notch. 

I agree @Ashlyn Kramer, consider doing MTR through the Furnish Finder platform. The platform will be able to help guide you with demand and folks looking to travel there for variuos work opportunities.

If you are interested in that route, there are a bunch of resources on these forums that you can learn how to approach this strategy, furnishing a home, finances, management, etc. Reach out if you have specific questions!

@Nick Bandiera stoked for you to getting started. You have already heard from many, Furnish Finder is a great option regarding ROI and easy of platform. Pair it with a good management software, lease creation, etc. you will be off to the races.

First step is make your property availble, list it, learn from working with tenants, and get a feel for it. The next step, as you mentioned corporate/executive housing can be more lucartive, is reaching out to some of those companies recuirting offices/agencies, building a relationship with them, and promoting/talking about your property. Treat it like a business and work towards building a strong lead generation/conversion through direct relationships. You got this!

Hey @Mendez Garcia, welcome!

You are taking the right steps for sure! Couple thoughts to be thinking of on your journey:

- Is the goal with off-market to get the best deal? Or is your goal to start the journey? It is easy to get hung up on whether a home breaks even or doesn't cover the entire mortgage, but sometimes just taking the step and getting started is more important.

- Are you open to SFH homes and house hacking? Pending on inventory and your luck with off-market, there may be an opportunity to do a room to room rental; this could be LTR or Mid-Term Rentals.

- Outside of the what folks have stated, utilizing Facebook Market Place and Craiglists could be another option. Whether they are selling or trying to rent a home, and possible avenue to begin conversations. 

Good luck and hopefully you are able to get into your first property soon!

Hey @Lance Metsger, I think @Scott Scoville laid it out nicely and I use the same marketing/processes here in Boise, ID. And @Bonnie Low is also spot on. I believe that it is more important to take the first step, get into that first property, and go through the process of learning, rather than hitting a home run via cash flow/complete mortgage coverage (and this is going to be market specific, especially in Roseville CA - my in-laws live there). Consider doing Room by Room LTR or MTR for the house hack, which will require some uncomfortability and comprimises but you totatally got this! Totally down to chat more via DM if you'd like but taking the first step in asking for advice/help is awesome, keep it up!

Hey Alec, just sent you a message/connection! Look forward to connecting!

Hey @Maria Matthew! Here are some of my thoughts, hopefully they provide some value.

There are a lot of resources out here in BP around Distance Self-Managing and hiring a property management, but it comes down to your goals. MTR management, pending one which platform you use (AirBnB, VRBO, Furnish Finder, etc.) is very doable but also depends on your current property and how you have it set up.  The needs for MTR are going to look different and the turnovers are less often.  I have a friend in Colorado Springs using a property management company through AirBnB for two MTRs and they charge 20%. Every property management company will provide a breakdown for their services and it just comes down to your goals for the property and quality of life you desire while traveling.

Pending on the type of MTR travelers you receive and your space, with MTR you are providing the same things as a STR, but most of the necessities (paper towels, toilet paper, cleaning supplies, etc) are going to be fronted by you, but necessary for you to keep them stocked week by week or month by month (based on the expectations you set up from the beginning). Other amentities such propane may be needed to be restocked but it depends on the type of service and experience you want to provide to your guests.

I go on and on and on around lots of details and such, but I will message you and happy to walk through everything with you so you can feel confident making a decisions moving forward. 

I agree with @Andrew Bosco and I would do something along those lines. As previous Higher Education professional working within Housing and Residential Life for several Universities for 6 years, roommate/house contracts and facilitating conflict was a bit of specialty haha.

Positive incentives goes a long way around trash/recycle and shared area cleaning responsibilities/expectations. As @Laura Shinkle stated, ensure these expectations are stated ahead of time. The more detailed and thorough you can be around 1) what is a shared space? 2) what is required to clean a shared space? 3) and in some instances defining what clean means? can be important and go a long way.  And be sure to have some sort of SOP around recieving and facilitating complaints, rather than folks taking into their own hands via passive aggressive approaches.

Hit me up if you want to process anything but there is a big part of this that you will learn as you go, you go this!

@Christian Ehlers you hit the nail right on the head; MTR retursn and translation of revenue is a bit of MacGyver process hahaha. 

My unconventional process when using Furnish Finder is placing the "move-in date" a month ahead for the areas you are looking, and analyze the properties that are currently booked and will be "Available on {Future Date}." Sometimes it can be a lot but you can start to 1) understand the demand and 2)analyze the competition/property types/amenities/price/etc.  Next, I go over to AirBnB and search for the 30+ stays only to dive deeper, and hopefully you can begin to create a range of  properties/size/amentities and the revenue/returns you potentially can hope for. 

Then, it would be research hosptials, what Level there are (1,2,3) and contacing their agencies/recruiters to better understand demand/need.  Hope this provides some value!

@Spencer Cuello Hey! Not familiar with san antonio but familar with MTR's. @Nicholas Davaul is correct to visit furnish finder to look at some stats, that is always a great idea. Additionally, do a market/competition analysis of 30+ stays within AirBnB/VRBO, this will give you a understanding of the competition, pricing, amendities, etc. in your area.

Next is research your hospitals, not every hospital is alike, but each have different ratings (Level 1,2,3). Level 1 & 2's provide expansive care for all types of emergencies/traumas/surgies, with a high variety of specifialized departments. These hospitals always attract and are in need of traveling medical professionals. 

The MTR world expands way beyond just nurses but thats a great way to start, and utilizing Furnish Finder is a great platform to get things kicked off. If you want to chat more, connect with me to continue to conversation.