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Any advice for a first time co-host looking to get their first deal?
Hey everyone! My name's Hunter, and I'm excited to get started being a property manager/co-host/host for short-term rentals in the Orlando area to start. My goal is to branch out and remote-manage a suite of properties as my full-time job.
As I'm just get started, does anyone have any tips or recommendations on where to start looking for potential properties to team up with? Thanks in advance!
Can you be more specific? I don't understand what it means to be a full time, remote manager/co host.
I can say that managing remotely is a challenge for many, I don't really know what value a person could bring trying to perform management services remotely for a third party.
Hey Corby, thanks for the response!
Co-hosting allows me to work with existing property owners to bring them more cash-flow for a percentage cut. Since I don't currently have the capital to purchase or arbitrage a property of my own, this allows me to start building that capital to eventually move into arbitraging properties of my own.
My goal is to work with those existing property owners to remove them entirely from the day-to-day operations of their STR, making their property a passive revenue source. As for the value-add, I would manage all guest communications, pricing, listing, and other daily responsibilities, while also having a on-site team for all properties. Those on-site teams would be primarily made up of cleaners and handymen, who in remote locations would also serve as my eyes on the property for any potential issues.