All Forum Posts by: Torrey Taralli

I'm curious about this, are you saying that you purchase in areas where STR investors are not having a lot of impact therefore the towns are not likely to create regulations based on STR investors not driving up the price of homes??? TIA

I also use the nest/google cameras I have one for the doorbell and another pointing at the driveway are to monitor trash pickups. I've been using them for a year an a half and have no complaints and I plan on using them on my next investment as well. 

@Alex Lee Totally agree. Some of the areas that have established laws seem to be limited examples being items like no more than 90 days rented in a year, must be a resident to rent, limited number of rental applications given out on a first come basis. Those all scare me with the exception of 90 days, if the area had a 90 day limit but the numbers show a COC % return that aligns with your goals then I think it could be worth the investment. My fear of an area such as Hunter Mountain where there are no regulations are, what if they make STR residents only? What if they grant limited number of applications and I don't get one for a key season? Then I would need to be sure that I can make the place work as a long term rental where I sacrifice COC and focus on appreciation as my key metric to grow wealth. My issue in these upstate area are that the appreciation has skyrocketed so much in the past two years that I'm not confident in it's room to grow. Making my numbers not look great :(

I've been doing some research and contacting some of the towns in New York and I have to say it doesn't look great. It seems the laws they have in place are not fantastic from an investment POV and then other towns don't yet have laws but they are pretty clear that something is coming. Seems a bit dangerous to purchase in these areas. Still looking and calling as I would love to stick close to the area but so far... nothing :( 

I just use the ice maker in the freezer. We are in a beach town so I assume lots of cooler use and have never had a guest mention it. 

Great call out Nancy, I'll need to look more into this. BTW I see you're in Sag Harbor, My STR is in Westhampton Beach and going to Sag Harbor is what originally inspired me to get into my first STR :)

Also based in NYC. I currently have an STR out in Long Island but the area has become so competitive that it's difficult to make numbers work on a lot of these properties. I'm aiming to stay as close to NYC as possible and I would be curious if anyone knows of markets in the upstate area that have favorable laws? It feels like every time I dig into the laws there are new regulations coming that might do something like limit the house to only 90 nights per year.

Any thoughts or direction on favorable markets would be EXTREMELY helpful. I'll keep looking and add any if I find them here. 

I currently own a single STR that I rent through Airbnb and VRBO. I'm looking to add 2-3 more properties this year and I've gone through various calculators to analyze my deals. But, one thing I notice is none of these calculation tools account for time spent on a property. Here is a very simplified example of what I mean:

Option 1: Single property Gross 100K net 30k 

Option 2: Two properties: Gross 100K net 40K 

Now, of course you you net more on option 2 but now you need to manage double the bills, double the bookings, double maintenance, cleaners etc... Has anyone built time spent into their calculations and if so, how did you determine this? 

Thanks in advance!