All Forum Posts by: Yael Lederman

There are many companies that will virtually stage homes and can do so with design parameters you give them. You can try to have them virtually staged in the same way you'll be furnishing the property once its ready. These companies can take photos with existing furniture, clear out the furniture virtually and plug in new virtual furniture – it's pretty neat! That said, I would make sure to be really clear in your description that the photos have virtual staging so folks don't get confused / feel misled. 

Try to aim for the conversation to feel more like a conversation and less like a sales pitch. Do some research before getting on the phone so you have context and can use that context to form more of a warm connection with the person. I would also get some friends to help you practice!

Focus on building relationships with investor-friendly realtors and wholesalers in your target markets if you want a more hands off acquisition strategy. You'll get great deals sent to you rather than having to spend your time digging for them. You may pay a bit more for deals this way but if you factor in the cost of your time it may be worthwhile.

Make sure to quantify what a "successful appointment" means to you. Many VAs will hit their min dials and even set appointments but the quality of those appointments will be low. Also, don't be afraid to have them listen in on your cold calls. That way, you can set the example of what a call should be like.

I agree with the advice to take action! That said, if you want to wait I would focus on spending your time building a great local team. Your team is make/break for flips so building those relationships will pay off when you're ready to start flipping.

You can use UpWork to find folks with all sorts of rates all over the world

I agree with Clay about the multi-year leases. That said, I would consider thinking about arbitrage as a way to learn and not as the primary investment in and of itself. Doing arbitrage is a low-risk way of figuring out how to manage a STR, learning the demand in an area, etc. So I wouldn't get too discouraged if you don't find a home run property for arbitrage right away. It may still be worthwhile.

This is a great list! One thing I'll add is if you're looking at a new market, trying arbitrage first to test demand for a year or two can be a good strategy. You can figure out demand and other variables without taking on too much long term risk. 

I like to think of arbitrage as a way to test things. If you're looking to expand into a new market, a new type of property, etc. you can always start with arbitrage for a year or two and see how it goes. Once you have historical numbers, you can feel more confident in your analysis for a longer term investment. 

Lots of great STR-friendly markets here in FL! I would recommend using AirDNA and looking at market data – ADRs, occupancy rates, etc. That will give you a better sense of what to expect market by market.