All Forum Posts by: Andrew Steffens

100% agree with @John Underwood. Find a local Realtor with documented STR experience and let them represent you. They'll not only keep you in legal areas but also should also have knowledge about where your best ROI will be. Primarily I am property management company owner but began offering this exact service in FL as a lot of people were contacting me to manage their illegal or not well located properties because they went it alone or hired the wrong Realtor.

I have a PM company and did not get a PMS until I was close to 10 properties.  You can use do fairly well on Airbnb/VRBO alone and sync calendars, use Pricelabs for pricing, Schlage app for locks (I recommend Schlage), quickbooks for accounting, and spreadsheets for anything else.

Is the fall a good period there for the leaf peepers?

I like going around my bday (Feb 1) because its slow and I can rent a massive cabin cheap :)

 One will I believe.  The question is can they stay fair/impartial/neutral etc.

Im agreeing with the other posts about PMS.  I manage about 65 units in Tampa and use Streamline as a PMS.  Streamline connects not only with QBO which I could use but I also have a more convenient tool called checkbook to direct deposit owner funds.

Maybe you can find a local South Bend STR group on FB and get the scoop straight from hosts :)

Let me know when yields are at 15%+ :)

Im still seeing the numbers on my PMS.  Everyone once in a while there is no number available.  Maybe you just got 2 in a row - I do not think this is systemic.

Thanks for sharing and sorry to hear some of that.

1 - If the first property was achieving $10k a month and it is not down to $5k or less abruptly it is either inept management or a major change in your market.  Id speak to reputable local managers to see what they think it should currently gross.

2 - The duplex - Unfortunate.  If the PM does not have cash you could file suit, he may not pay to defend and you could get a default judgment and try to hire a collections company.

3 - New property - glad to hear youre at least break even.  See if there is anything you can do to increase revenue.  An example in my market (Tampa) could be something like adding a pool heater.

If you do decide to sell #1 I would market it is as turnkey/furnished.  A lot of people moving to Texas and a lot of investors buying preferably turnkey properties for the tax benefits.  If someone wants to buy it without furniture you could probably find someone wanting to take it off your hands cheap.

Good luck!

There is a classified section where you can advertise your services as well.