Short Term Rental (STR) startup out of state questions

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Short Term Rental (STR) startup out of state questions

Charles Jones
Member since 2021 · 4 posts · 0 votes

We are about to close on a duplex that's been used as an STR. We live in a different state and want to manage it ourselves, but are nervous on the startup process. I have read many great posts about using yourporter & turnoverbnb as well as ownerrez. My concerns are what challenges you have faced in first starting up, especially if you were not near the property? I really do believe once we get over the first few months, it'll be a piece of cake. Oh and this is our first investment property too! so super excited and super nervous. Thanks everyone

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Collin HaysBusiness Member
Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
5y

When I set up a new property, I go out and spend a week or two and get it fixed up. There’s always things that need attention.  I like to spend a night or two at a new place to evaluate it.  Where furniture needs to be, what needs repair, risk management issues (very important).  I’ll gather up furniture, antiques, decor etc., and have it shipped to a storage facility awaiting my arrival.  I buy most of it on eBay.  You’ll also want to meet and shake hands with contractors and housekeepers that will be helping you.  

Probably your biggest ongoing headache is going to be housekeeping turnover.  

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  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    5y

    When I set up a new property, I go out and spend a week or two and get it fixed up. There’s always things that need attention.  I like to spend a night or two at a new place to evaluate it.  Where furniture needs to be, what needs repair, risk management issues (very important).  I’ll gather up furniture, antiques, decor etc., and have it shipped to a storage facility awaiting my arrival.  I buy most of it on eBay.  You’ll also want to meet and shake hands with contractors and housekeepers that will be helping you.  

    Probably your biggest ongoing headache is going to be housekeeping turnover.  

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    2Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y

    There are some meth heads or opioid addicts squatting the house.  You can't evict them and the police will be of no help.  I'd grab that mofo by the collar and throw him out the door and kick them to the curb one by one.  Then I'd tell them to not come back.

    You probably don't have the muscle or combat skills to do this like I do.  I guess you are screwed.

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  • Ethan McCarty
    Investor · West Union, OH · Member since 2018 · 40 posts · 23 votes
    5y

    I am the same as Collin and prefer to be at the property after closing. However, if that wasn't an option I would ask my realtor for a recommendation for a cleaner and handyman and pay them to get the property set up. 

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y

    For these 2 properties you just need Vrbo and Airbnb software and a great cleaner to handle turnovers. 

    As others have mentioned I would want to checkout the property and make sure everything is in good working order to be a 5 star STR.

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  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    5y

    I manage 100+ STRs. It's not an easy feat, let alone being out of state. The software you mentioned all works great, but its the people that you'll really need. You need great cleaners, handymen, on site project managers, and a guest communication person to field everything. You can try to act as a PM and guest comm from afar but its tough without seeing the physical product sometimes. If its just a duplex it shouldn't be too hard though, but you'll need a great cleaner and handyman.

    [email protected]614-363-2787
    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
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  • Charles Jones
    OP
    Member since 2021 · 4 posts · 0 votes
    5y

    Thank You all for your outstanding information! i'm super excited to try this!

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