All Forum Posts by: William Kim

Hey @Alexander Schloe

Just wanted to follow up on this thread to see if you found anything that worked for you? We're also in the process of figuring this out and need to figure out who will be on the loan, title and how that affects the partnership/LLC.

Thanks in advance!

William

@Jason Kudo thanks so much for the i detailed feedback on your experience in the area. We are open to Joshua Tree and the surrounding areas, but are wondering what a typical $500+k home will look like esp in this market. How are the STR regulations in those markets compared to PS? Indio seems to be a little more favorable at least compared to PS.

@John D. Thanks John! What I meant by the % is the expense ratio from monthly revenues. I know it’s harder to predict than LTRs, but wondering if there is a typical range in this market.

Hi BP Community!  

It's been a while and hope everyone is staying safe and healthy during this time.  

My wife and I are contemplating getting into STRs and are looking at the Palm Springs/Indio, CA markets.  Perhaps even Joshua Tree.  With the hot real estate market, we're wondering what your experience has been like in purchasing SFHs and still making the numbers work.  I understand that what works for some may not work for others, but just want to get a general state of the market out there.  

We also understand that STRs are not like LTRs and require more work, which we are more than willing to do.  As long as we get the systems and processes in place, things will be a lot more automated and "less involved" down the road.  How have you been handling bookings (AirBnB, VRBO, both/other)?  Also what apps do you find most helpful?

Also what range of expenses are we typically looking at in these markets? 30-60% depending on how you furnish/decorate and what amenities you offer?  

Would appreciate any feedback at all and thank you in advance!

William

@Mark Miles Thanks.  What areas in the south are you invested in?  A concern we have with that is the fact that we wouldn't be close to our investments (at least to start off with until we get systems in place).  And just like you mentioned, we like NH (especially in the regions close to ski resorts and lakes) as those attract visitors/tourists almost year-round, though I've read April/May and November may be the slower months..

@John Underwood Thanks.  I'll reach out to those resources to get a better understanding of what's going on locally for STRs. 

@Luke Carl Thanks.  I'll certainly do that.  At what point do you think it's worth paying for AirDNA's subscription?  I assume you're invested in the south?  What areas are you in?  

Hello BP community! 

My wife and I live north of Boston and have been looking into investing in short term rentals in New Hampshire.  We're interested in the North Conway or Bartlett areas or perhaps Franconia.  Does anyone have any experience in these areas or suggest other areas to look into? 

It does seem the market is fairly saturated and unsure how regulated STR is in those jurisdictions.

Any help/guidance would be appreciated!  

Thanks,

William

@Clint Harris Great post Clint, and thanks for sharing your experience.  

I'm wondering if STR is at a point where it's difficult to enter into a market due to the saturation of STRs/competition. Did you realize or encounter this even just a year or two ago? Also, you mentioned that the local regulation requires that you live within a certain distance to be able to own an STR. Is that true for most regulations? We live in Massachusetts, which isn't necessarily a "beach destination" for many. As a result, I'm wondering what it takes to own STRs out of state.

@Ake S.  Hi Ake, I wanted to follow up on this to see how your rental property in Dallas is going with MI.  Any hiccups along the way?  If so, how have they worked with you in rectifying?  I'm hearing a lot of good things about MI (haven't taken the step yet to invest with them), but wanted to see how they respond with issues/problems with the property.  Thanks!