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1 September 2023 | 12 replies
Include costs for furniture, decor, and maintenance.Insurance: You may need specialized insurance for short-term rentals, including liability coverage.Marketing and Listing Fees: Account for expenses related to listing your property on platforms like Airbnb.Guest Amenities: Think about providing amenities like toiletries, linens, and kitchen supplies.Regulations and Taxes: Research local regulations and taxes applicable to short-term rentals in your area.Consider Market Demand: Ensure there's consistent demand in your area for short-term rentals.
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13 November 2023 | 12 replies
It sounds clever to invest in OOS or in other cities but I'm telling you it's not.
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14 November 2023 | 28 replies
Here are fees from property managers you can expect (but do note that it will vary):- Property Management fee: 20-30% (depending on the market and I think I've seen higher than that)- Repair Management Fees: Fees are tacked on top of actual cost- Setup Fees (getting the unit ready)- Design Fees (hiring a designer)- On-boarding Fees- Linen Fees- Cleaning Management Fees- Any other fees (i.e. resort fees)Expenses to expect (may vary):*Some may be covered by the property manager*- Supplies & Linens, Propane tank replacements, Water filters, - Utilities (water/sewer, garbage, electricity, WiFi)- Permit fees, TOT (local and/or state), business license fees, HOA fees, and any other local fees- Maintenance (air filters, touch up painting, plumbing issues, and etc)- New Amenities/furniture to improve listing as time passes - Upholstery cleaning- Pool & Hot tub cleaning - Gardener - Security Camera subscription- Noise / Smoke / etc monitoring - OTA service fees- etcI hope this helps!
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8 September 2020 | 10 replies
The following is what I'm looking at providing within the scope of "furnished" as well as some other highlights:-Keurig-Microwave-Fully stocked kitchen-Linens -WiFi-Cable (Fios) with DVR and HBO-Flatscreen TV-Double bed-Apartment cleaning and laundry ( this would be built into the rent) I'm not open to letting the tenant into the section of the house where our washer and dryer are and putting one in the apartment isn't an option at the moment.
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23 November 2022 | 16 replies
Stock = dishware, glassware, cookware, linens, etc.
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13 October 2023 | 10 replies
I think there will be a battle over the next few years as state laws catch up with the increasingly clever ways that wholesalers get around not needing a license.
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29 December 2018 | 69 replies
I suspect the selling of the 3k information package is a pretty heavy revenue generator for them and very clever indeed... you take undercapitalized folks that want to get going and they will risk it.. just like folks that put the big guru packages of 20 to 40k on their credit cards with the hopes and dreams that there is some magic training that will create income so they don't have to work anymore ( at least W 2 work)… So I was just asking that other lady if she actually funded.. or if she put up the 3k and lost it.. one of the toughest things to do in the industry and its kind of like how gambling casinos are set up.1. take a rookie and that's who is going to be attracted to this scheme of no money down ( which of course it is not)2. set the bar so high that most rookies simply cant find a deal that actually works in todays competitive environmentand there you have it you have 3k in your pocket to do turn downs and to send out materials that are long ago paid for and there is nothing new in real estate .. there can be nothing they are sending out in their materials that is not known to the RE community and talked about daily on a site like BP... but again if someone wants to pay 3k for their materials that OK in my mind.. its just the way these companies package this stuff that goes against most of us that have been hard money lenders or are HML ers business practices.. and I get where they are coming from.. the begineer is by far the highest risk borrower.. and in todays world if you have 10% to put down most HML will fund you if you have a good deal and for nothing up front.. they will help you underwrite it since it their money.. and the rates will be substantially less. shop around and see..then lastly if someone does not have 10% in cash and good amount of reserves to go into fix and flip is highly risky its highly risky to start any business undercapitalized..
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20 November 2023 | 13 replies
I'm hoping seller financing can be a clever way to get my foot in the door!
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10 March 2020 | 19 replies
I own some fairly nice houses in some areas where most of the rentals require guests to bring their own linens, sheets and towels.