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31 December 2024 | 14 replies
Think about the person booking, what are they looking for?
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29 December 2024 | 7 replies
What people want in this area of the business (STR) is humans.Look at the top STR coaches and they all say that the more you humanize your listing with personal videos and messages, the more you go up in revenue.
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26 December 2024 | 0 replies
Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lenderHow did you add value to the deal?
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28 December 2024 | 23 replies
I work a lot, probably more than the average W2, but we also travel a lot, at least 6 trips every year.So that's what's driving me, numbers on a screen are nice, but they are not fulfilling on a personal level.
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27 December 2024 | 22 replies
It was inspiring to hear what others have planned for their business and personal lives.
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28 December 2024 | 6 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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27 December 2024 | 3 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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27 December 2024 | 2 replies
This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.
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29 December 2024 | 8 replies
Also I'm fully funding the deal with personal CASH.
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25 December 2024 | 2 replies
I have not been able to find any in person networking events in my area doing a basic internet search.