All Forum Posts by: Dan Thomas

@Michael Southall

Did you purchase your place already? Ask your agent for reccomendations. Call other agents and see if they have a PM division. Alot don't but will point you in the right direction. As John mentioned you can do most on your own. There are different levels of management. I found a great connection by calling around to REAs in my market. He charges $200 a month to plow/mow and be on call 24/7 and $100 to clean each turn. I am customer facing and deal with the logistics but he takes care of the cleaning and maintenance side of things for a very reasonable price.

@Ryan Cleary

In my market a dart board is probably more accurate. I am getting 180 a night consistently and their rate is 62....

@Paul Sandhu

2? I only see one.

@Parker Larsen

I'm not out of state but I am 3.5 hours away. Last night I got a call at 10pm that the toilet wasn't working. I'm fortunate to have picked a good pm to work with. He dropped what he was doing to go fix it. I was stressing alittle as I don't want my guests to have a bad experience but I would really be stressing if my pm didn't answer his phone or decided it could wait till morning. My point is you must have a great PM and a great cleaning person. You won't run your out of state business successfully without them. Turns out in my situation at -10 pipes like to freeze.

@Patrick Bavaro

Seems long. Not being critical here, just looking to understand as I've seen r2r advertised alot and might consider something like this but the timeline doesn't make sense to me. I just did a similar build. Construction to perm....draws everytime the next phase is complete, I get the product your working with. This was a custom home, and as my primary home I was much more picky than I would have been for a rental. Start to finish 9 months. Permits and all. I can't wrap my head around being 6 mo in and not having any framing up, maybe it's a regional thing.

@Patrick Bavaro

You closed on construction financing end of July and hope to start going vertical soon? What is taking so long? Is that normal for their process? A house should be half to 3/4 complete by now.....at least in New England.

@Douglas Gratz

I addition to the advice you have already gotten I would just like to emphasize the supply chain problems that you WILL face. I just finished a new construction house and hit supply chain issues at every corner. High end houses you can't just settle for what is available you need to give the customer what they want even if that means not finishing the kitchen for 4 months while you wait for the cabinets that are on back order or you have to turn away your insulation guy because your electrician hasn't started yet because he got covid. It is completely plausible your project gets pushed back significantly and there are carrying costs that come with that. I know someone who promised their buyer a move in date of late August.....their buyer is now hoping for sometime in January. Goodluck with however you proceed.

@Christopher Lynch

Northern NH. Think year round rentals. Atv trails in the summer, snowmobiling in the winter. Hunting, fishing, hiking in the off seasons. I launched mine in Oct on a Thursday. I had that weekend booked and every weekend since through March, lots of weekday stays as well. My summer is quickly filling up too. Look for a year round attraction I find the great north woods of NH to be super popular.

@Kevin Lee

What certifications / licenses do you need in your area to be a property manager?

@Joe P.

Are you cleaning this place your self? I pay $100 per turn for a 2 bedroom cabin, probably about similar in terms of the cleaning burden. If you do clean it that's fine and you will save the $100 per turn but the time required to clean is significant. My cabin takes my cleaner 2.5 hours. 3 turns a week isn't unheard of on airbnb so your essentially adding a day of work to your work week.