All Forum Posts by: Alexander Knowles

@Ben Callis Loris is pretty rural, and a good 25 mins from North Myrtle Beach. You would definitely need to check flooding in the area as we the flooding is getting worse in that area due to all the new developments going up. A successful (home-run) AirBnB play may be a stretch due to the proximity to the beach, but don’t let that discourage you! Happy to be a resource for you.  

@Nicholas Brosnan - putting the plug in for Myrtle Beach, SC too. The whole coastline is growing with a lot of potential for STRs in this area. I'd recommend making sure you have a set criterion on what type of STR you are looking to acquire, your targeted clientele and a plan for management and you will be in good stead for success.

Similar to above - know your long term goals and go from there. Getting an FHA loan, living in one unit and renting out the others is a great way to get started in multifamily and reduce your living expenses.

@Tom Chen - although there are not as many well-known turnkey providers here in SC, there are a good amount of single-family homes that only need minor repairs/cosmetic upgrades and are move-in ready. A good realtor and property management company will be able to help you out. Happy to be a resource for you if you are looking into this area!

@Jonathan Stone / @Collin Hays- thanks for the input. Do you have a separate advertising website (just like a one-pager) or anything else apart from being directly on the AirBnB/VRBO app? Do you offer any incentives to give a good review?

@Daniel Johnson - good idea on the pets. From a personal perspective, we only look at pet-friendly STRs when we travel. Is there an extra fee you charge for pets and is there a sweet spot to capture extra revenue? 

@Josh Deeden Haha. We relocated to the Myrtle Beach area in South Carolina - wife got a job which was part of the equation but we are stoked with the decision so far. Cultural fit is certainly a thing and I don't blame you for thinking about it, but to be honest there are so many other people moving into here we hardly "feel" it. We do miss the mountains and hills where we were but there are locations nearby and looking forward to getting into beach/ocean activities. 

Hey all - 

Looking for feedback and "must-haves" for those in the short-term rental game. I am looking to acquire primarily single-family properties as well as provide more value and insights to investors seeking the same strategy (I am an agent fulltime). What are some key features that have made your property more desirable? How do you consistently generate bookings on Airbnb/VRBO? Approximately how much do you invest in furnishing the property in order for it to be highly desirable?

The article outlines that consumers desire these features:

• Reachable by car 
• Entire properties 
• Longer stays 
• High-end features
• Clean and Safe 
• Short Lead Times 

Would love some insights from the short-term Pros out there! 

** Inspired by the article posted in the latest BP Wealth Magazine - credit to Nicholas Barron for the article**

@Josh Deeden would definitely consider your daily/weekly activities and what you really enjoy doing outside of work as moving to a cheaper place to live does have its negatives in regards to amenities and outside activities. In a larger metropolitan area like San Antonio, there will be deals as long as you stick to the grind of looking for them and committing to making offers. We just relocated to the south-east and putting in a plug to look into areas here. I know Knoxville/Nashville are seeing some growth as well as Atlanta, and areas in South and North Carolina! Sometimes you just need to commit to a place and figure the rest out on the fly!

Hey, @Matthew Veli happy to help answer any questions you have and help point you in the right direction.. The best way to go would be to try and self-manage as much as you can as property managers here will cut into a significant cut of your cashflow. @Daniel Denning has some great insights into managing from afar. There is a vast selection from the 'condotels' to single-family homes to choose from depending on what direction you want to go. Location is also key, as Myrtle Beach is expanding rapidly and spans from Pawleys Island all the way up to Cherry Grove Beach (just south of NC state line)

@Christy Tulipana - depending on your market, you have quite a vast selection. Anything from 'condotels' to SFU. 'Condotels'/Condos are more a more passive cashflow where management companies will charge anywhere up to 40% of your rental income, but you don't need to lift a finger. I personally like SFU options as a STR. People are driving more, wanting to bring kids and pets with them and wanting to cram the family or close friends in - SFU are more attractive and you can charge a higher premium to split amongst the number of beds that it can sleep. The catch is trying to find them that will cashflow but also are not restricted by HOAs!