All Forum Posts by: Wes Mccullar

Good morning BP

My wife and I invest in STR In vacation markets and we are looking for a great Accountant in the Charlotte NC area that has specific experience with STR investing.

If there are any folks on BP please chime in so we can connect..

I don’t check this as often as I should lately but please feel free to text me at 919-714-1489 and I will call you right back.

Thank you

 yes, i checked but most of the posts were dated and a little older. also i just realized after i posted this that Guesty is a PMS and not a channel manager.

Merry Christmas & Happy Holidays to everyone!! I hope all of you are having a great holiday season.

I’m starting this thread to help my wife gain clarity and resolution on some issues she’s having with pricing, and hoping we can get great feedback from all of you to help us remedy the problems.

Currently we have been using Guesty as our Channel manager. My wife has been managing our STR's for almost a year now with pretty good success. However we consistently have issues with pricelabs not properly pushing over the pricing she has set for our properties over to Guesty which then results in the nightly rates not always updating on Airbnb or VRBO. It's sort of an intermittent problem so it's been difficult to truly identify the real issue.

So I was curious if the issue has anything to do with Guesty and if any others have experienced similar problems.

Also, now that we are entering into a new year (our first FULL year as hosts) we are considering a change of channel managers and wanted to see what the BP community recommendations are?

Thank you all for your continued guidance.

Good morning BP!

My wife and I just recently moved to Charlotte and are looking to expand our AirBnb Business in 2023. Currently we own 2 properties that are doing well, and my wife has begun co-hosting other peoples properties and she is doing amazing at it (Superhost & 100% 5 star reviews since March 22). yes, I'm bragging on my wife a little :). Just very proud of her since she didn't have much belief in herself when we started this. 

Now we are looking to begin the Arbitrage method to add more listings to her co-hosting portfolio. Can any of you who have experience with this in the Charlotte market let us know your thoughts and feedback, as well as recommend which apartment's complexes allow the arbitrage method?

Thank you all in advance for your insightful feedback, and we hope you all have a wonderful Holiday with your families!

Hello all!

My wife and I begun our RE investing journey about a year ago leveraging 2 HELOCS on our primary resilience to purchase STR's. We are cash flowing pretty nicely now and we're wondering if right now is now a good time to start paying the HELOCS off, or should we stack cash and increase capital right now for more future investing?

Thanks in advance for any guidance

Hello BP

My wife and I are looking for a local Tax Professional in the Virginia Beach area who specializes in STR or Real Estate in general. If any of you know someone please let us know.

Thanks

How far apart do 2 markets need to be In order to qualify for the 10% down loan in both? Example, if you have a property you purchased in Destin for 10% down can you buy another in let’s say Santa Rosa, Rosemary beach, or Grayson utilizing the same option?

Thanks

Merry Christmas BP!!

My wife and I just recently closed on our first STR in Destin Florida and are now in the process of getting all of our systems set up. One of the main systems we need feedback on the most is setting up our accounting.

What all do you all use or recommend as the best method or software to track income, Expenses, and P&L for your vacation rentals?

Thanks

@Cole Simpson

There are plenty of lenders who will do 10% down on a jumbo. I’ve got 3 I’m working with currently. Just have to search around deep enough, but they’re out there.

@Dan H.

Hey Dan

we plan to manage ourselves from out of state so we didn't factor in PM expense.

for expenses i have:

electric - $500

water - $100

cable/internet - $150

Pest - $75

Supplies - $50

i didn't factor in any cap ex because the roof was just replaced last year and the pool is brand new as well. the house looks to be in excellent condition.

For vacancy we used a 70% occupancy rate and i estimated a $600 average nightly rate.