All Forum Posts by: Tim Griffiths

There's not a lot of property management up here.  I'm in Oswego and I  know of a few but I think they're pretty much exclusive for LTR.  But I can check.  @Jeffrey Tonkin any ideas?

thanks everyone. I think at this point I'm going to go LTR for a year just to make some money back and then evaluate. Getting it ready for renting has taken a lot longer than I expected, but I'm grateful for the many lessons learned. Finding a good handyman was a challenge, to be sure! The location of the house is really not ideal for a STR, I realized as well. My next one, maybe, if my new w-2 job settles down. Great advice though and I'm bookmarking a lot of your replies, thanks again.

Thanks everyone. I talked with furnished finder and it seems like there's a definite need here as well. The town is actually doing better occupancy wise than some bigger places according to airdna and rabbu. And home prices are still affordable. It's just the time factor and that extra 4-5 figures of expense to furnish that I am struggling with. I'll grab the book recommended and start there. I have a handyman coming to get it ready week after next so I still have time to figure it all out. The salmon fishing season begins in about a month so if I'm going to STR I need to have it up and running by then.

I just closed on my first property and was thinking of having it be a str/mtr in my town but I'm having second thoughts. I have a very busy w-2 job as does my wife and finding the time and money to fully furnish another house is incredibly daunting, especially doing it quickly as we'd like to have it rentable asap. Add in the time to manage it on a weekly basis and we are just about convinced we need to just get a LT tenant in, way less work even though I'll barely be making $200 a month off the property (if that). How does someone put together a STR when you've got two full time job, plus kids? I don't want to give up on our dream but we are beyond overwhelmed.

Good points. Yea, we originally wanted to do STR/MTR but when our friend needed a place we thought it would be an easy way to get started. But, I always wanted to do the furnished route, so I'm kind of glad our hand is forced. There's tourism and the college and power plants, plus the hospital so I think there's enough to keep it full. Now, it's time to search the forums to find out the best place to get quality pieces to put in the house!

Thanks everyone some great advice. I went on Airdna and another site and it seems like the demand is pretty stable, not huge but not too bad. I’ve begun reaching out to larger employers in the area to see the demand for it would be by them. We also have a pretty good tourist season from April to October so I’m thinking I can find some folks that way too. 

I have just closed on my first property and originally when we put the offer in we thought we would do a medium term rental, with airbnb filling in the gaps if possible.  The house is near a hospital, Lake Ontario, there's also 3 factories nearby and a state college.  It's a small city, though, so none of these are huge on their own. But we figured we could make it work both in the tourist season and by working directly with the large employers in town.

We then had a friend ask to rent it out, as they were living with mom and had just gotten divorced.  Fine, we thought, young professional, we know they make a good living and their background was known.  Fast forward 3 months later and the prospective tenant is no longer happening; once they realized I wasn't going to rent at a loss, they suddenly couldn't afford it.  The market has changed since 2018 but they don't seem to get that.  I'm pretty annoyed and now not sure what to do.  I went on furnished finder and there's almost no listings for available property in my city.  Is that a red flag or a sign that the demand is high?  In April there were a lot more listings.  It's a lakefront town that gets lots of tourists in the summer to mid fall.  

So, I don't even really know the questions to ask, to figure out what to do.  I'd like to provide a needed service in the town and don't want to dive into the college rental market if I can avoid it.  Any hints on what research I can do to figure out what is the best strategy?  I am struggling to find hard data on my town; real estate seems a bit old school here.  

Thanks, we just got the keys an hour ago!  Here we go!

Very excited. Just got the closing date and will be doing the final walkthrough this week before closing Friday. I've literally been talking about REI for more than a decade but something always came up. I missed the Airbnb boom, the sky high appreciations, and other big deals. But, I'm finally getting my 1st place, a small 2 bedroom right in my city. It's gonna be a little bit to get it painted etc before I can rent it but I've learned so much this time that I feel like the next time will be a lot easier to navigate. Met my realtor through BP, probably wouldn't have happened otherwise, thanks @Jeffrey Tonkin!

I just used vanguard for my abstract of title on some raw land I’m selling.  I have no idea how good they are with assignment contracts but if you need a contact there, LMK.