All Forum Posts by: Andrew Bosco

1. Use these links to see what the demand looks like for both criteria and then pivot from there. Consider MTR is more hospitality than LTR. 
2. Furnished Finder - General MTR Data
   1. Furnished Finder Traveler Search - manual way to see the competition
   2. Furnished Finder Budget Tool - Good overview of market. Similar to A, but with stipend input
3. Rabbu (good for STR)
4. AirDNA - another good STR outlook
5. Rentometer - area rent LTR
6. Zillow (area specific)- Housing Data Demand - LTR/General Demand
7. Price labs - set filters to 30 day stays / include utilities. Good idea of MTR comps
8. Hello Landing - used by digital nomads
9. Local news on economic growth. Contact Hospitals/Government Bases/Companies directly

Section 8/HUD (LTR)

I just became a preferred partner with ALE. That said, I feel like it would make sense for ALE to have state-state partners who are well connected with PMs and task force their requests to the state/regional specialists. The way ALE runs their business model is you have to reach out to them (usually) to see if your place is a good fit or upload in their database. Then, they contact you. I feel like it should be the reverse and ALE should post where their needs/claim details (besides personal info) to be shared. That way, regional folks can chase down or broker a potential deal to get a spot filled. 

What do you think? 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $625,000
Cash invested: $20,000

#2 Househack! Property was on the market for 100 days. 2, 2 car garages and it was a FSBO listed as a single family. Purchased with a 10K seller credit at closing. Turned out - it was an illegal 2 family with an ADU (so 3 units!). AFTER rezoning - the property has since been changed to a two family with an ADU. A solid potential 5 year house hack. Escrowed mortgage is around $5400 a month. Tenants pay a total of $4,200 a month. My wife and I live cheaply every month and in a stellar school zone!

What made you interested in investing in this type of deal?

Location, Location, Location

How did you find this deal and how did you negotiate it?

MLS and 10K seller credit at closing. Inspection etc.

How did you finance this deal?

5% Freddie Mac

How did you add value to the deal?

Updating the kitchen/2 bathrooms in my unit. Appraised at sale at 680K!

What was the outcome?

High after sale appraisal. long term buy and hold house hack.

Lessons learned? Challenges?

Contractor work always costs more than you think.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Candor Realty!

Fees are a tricky thing. I try to just stick with cleaning fee, non-refundable pet deposit (or I just bring up the price on the rent without mentioning this as to not add more fees than necessary) and a security deposit. If you add to many fees, then you turn into AirBNB and price gauge on fees :)

 I hand this out for free for all to use. Enjoy @Cat Bauer :)

Candor/Simplified Rental Lists

1. Furnished Finder - General MTR Data
   1. Furnished Finder Traveler Search - manual way to see the competition
   2. Furnished Finder Budget Tool - Good overview of market. Similar to A, but with stipend input
2. Rabbu (good for STR)
3. AirDNA - another good STR outlook
4. Rentometer - area rent LTR
5. Zillow (area specific)- Housing Data Demand - LTR/General Demand
6. Price labs - set filters to 30 day stays / include utilities. Good idea of MTR comps
7. Hello Landing - used by digital nomads
8. Local news on economic growth. Contact Hospitals/Government Bases/Companies directly
9. Section 8/HUD (LTR)

Start in your immediate area. consider your own house. consider out of state, etc. Go to meet-ups, learn from others and then read up. Get with an agent who knows STR and even MTR comps. It's a lifelong journey of wealth :) Reach out with any questions.

Hey all! 

Just figured I'd share some tips that I found useful when setting up a leads list. 

Background: We all want more leads. I thought I would try at building my own leads list. 

Set-up: Hired 2 VAs (knowing personally from traveling overseas. We trained up on sales calls). Gave VAs a script. Pulled 2-3 lists, collated info, and skip traced. Leads basically determine who picks up the phone and I follow-up.

Cost: $380 per week VAs. Call tools: $200 per month. List cost pull total: 30K results. $800. 

Results: 5 decent leads for every 1000 calls. After 5 months - 6 buyer client transactions for off market multis. 3 direct to seller sales off market. 1 listing. 

Tips: Do WEEKLY Check-ins with VAs. Listen to calls. Go over scripts / how I'd handle. Be open minded. 

Systematize: Prepare for scalability. I expanded my search TOO far from my home base. I learned that a 1.5 hour drive works for me. 

Patience: it took 3-4 months of losing money to find out I was making silly mistakes and costing myself leads/money. 

Growth: Be open minded. 

Listen: Be an active listener on calls!

Partner: Work with others. It is a team sport! Better to do 100 deals for less money, than 3-5 deals for max money (imo). More deals means more experience and touchpoints (at my early stage).

 I work with my brokerage, Candor Realty and their internal PM company: Simplified Management and Simplified Rentals. Feel free to reach out and we can help you get the place rented via MTR or LTR!

I would get some quotes on cost of splitting utilities. There are many variables in terms of affordability pending the set-up. 

Check local laws for snow removal. I'm in NH and I offer to plow for one property but not another due to the space being less for plow making sure.