All Forum Posts by: Travis Rasmussen

Hey guys! Newbie here.

My wife and I are looking for our first property, and what we want seems to be hard to just “google” and find so I thought I’d get on here and get your expertise on what’s out there!

We are looking into communities that were built specifically for STR purposes and have built in management/cleaning services on site. I've seen a place like this here in northern Michigan (Boyne Mountain Resort, for example) but we'd like to see what is out there in other markets. Looking to spend less than 400k, condo/townhome style is fine. We are either looking for a cool ski resort or something in a tropical market. I know, two different things, but again, just seeing what is out there.

Thank you all for your help ahead of time.

Hey friends,

Really struggling with paying 25-30% of our gross to a property manager on our first STR.

I love all the details that go into AirBNB (decor, set-up, marketing copy, customer service), so the only things I can really see needing help with are:

1. 24/7 emergency response person

2. Lawn care

3. Great cleaning people for turnovers who I can trust

Is that worth 30%? 

Our STR is in a vacation town 40 min from us - we are very familiar with the area.

High season is all summer, then slows way down.

Thoughts? What am I missing?

TIA!

Kelly

Hey all! Looking for some advice and possibly recommendations.

I have one STR that has been live since July 1: a 4 bedroom, 6 bed, 3.5 bath place in Kissimmee, FL. I have been working with a wonderful cleaner who just increased their prices quite a lot for my STR, citing that other cleaners charge this amount normally. The new price is about $320 a clean ($275 for the clean itself + $15 per load of laundry they they have to take home to wash, which is usually around 3 loads). This is quite a bit higher than what other similar listings on Airbnb are charging (my findings were usually between $150-200 cleaning fee for my size place, the cleaner sent me one listing that charges $280).

While they do a great job and I always get compliments on how clean my place is, I'm worried that this new price point will affect people's willingness to book with me and I am already struggling to get folks to book at a high enough rate to cover my monthly costs. I could hide the additional cost in my nightly rate but it would be at the substantial risk of not covering my expenses each month, especially heading into slow season.

I think the cleaner may just be stretched too thin and increasing the price is their way of pushing me out of their cleaning rotation? Either way, I'm curious what others have experienced in this arena and what you all would do? I've looked into Turno since it is offered with Hospitable which I use, but I'm hesitant to make the switch without hearing experiences from others.

Thanks in advance for any insight!

Hi Keith -

I'm new to investing and am just start my RE journey as well. Totally get the analysis paralysis part. I've personally shifted my strategy from looking for a buy and hold in New England to flipping in New England in order to raise more capital. You got this!!

So I started my real estate investing journey about 3 months ago and since then I have poured over STR properties, analyzed data and so far Im coming up short. I think part of it is that I have about 130k to invest and Im struggling with which strategy to implement. Im in the analysis paralysis phase but I feel like I should be because I dont want to dive into something without making sure that the numbers dont land me in a situation where I'm losing money (Seems logical to me).

I've been looking hard at the surrounding Orlando STR market (Davenport, Kissimmee, Championsgate). I was hoping to be able to invest in 1-2 properties and start cash flowing about 2-3k per month. I'm using several tools (Awning, AirDNA, Rabbu) to try and come up with an annual gross earnings, asking seller's agents to try and provide at least a years worth of rental income but I'm finding that most people using these homes as rental properties are not keeping very good records. I'm thinking about bailing on the Florida market altogether and focusing on Flips in MA, NH, ME instead. Ideally, it would be great to partner with a seasoned investor who can help me analyze deals correctly so that I can get this first property under my belt.

I love the idea of STRs but Im not afraid to get into an off market fixer upper close to home (I have the background and skills to do the work or subcontract it out).

HELP!  :)

Hi, we are closing on an out-of-state property that we want to use as our first Airbnb. And we're thinking, from an investor's perspective, what kind of improvements would give us the most bang for our buck.

The house is actually in a pretty good shape just has a bit outdated style (see photos attached). 

So far we just wanted to repaint the walls, change the living room floor from carpet to vinyl, and repaint the kitchen cabinets.

However, we are not sure if that's enough to attract good tenants (for a 3 bed, 2 bath detached home with a pool in Kissimmee area), or should we spend more time and update the countertop (not sure how it's important for STR), kitchen cabinets, bathroom vanities, etc..

Since we are out-of-state investors, the less amount of effort and money we can spend to get similar results in term of rentals, the better for us. So we are trying get in idea what is must have and what is just good to have.

Would appreciate any advice, thank you!

Hello,

I am from NYC and I am looking for rental properties in Orlando Kissimee area. Anyone know if Townhomes are worth looking into? 

Thank you. 

Hello,

I am from NYC and I am looking for rental properties in Orlando Kissimee area. Anyone know if Townhomes are worth looking into? 

Thank you. 

Thank you so much @Michael Baum and @Shawn McCormick! I appreciate you both so  much!

@Shawn McCormick this was soooo incredibly helpful! We can’t thank you enough. We will definitely be using the unit for ourselves for at least 2 months of the year if not more. Would it make more sense to purchase a 4 bedroom 4 bath house at Windsor hills @530k than a 3/2 condo at 300k?

If either unit can make good profit that’s great but what’s more important for us is that it at least covers its own costs. We spend a lot of time in the Orlando area but don’t want to be completely upside down on our purchase. We absolutely love the area but feel a little confused since it is an investment. We know that we love the safety and security at Windsor hills but put storey lake in to consideration since we love how new storey lake is. 

Our budget definitely wouldn’t accommodate for a bigger home in either area. We just want a place that’s safe, clean, close to the parks and that will pay for it self and then some if possible. 

@Michael Baum- is there anything that you think would make a 3/2 condo in Windsor hills stand out for rental?