All Forum Posts by: David VanWert

Sure would love too, we have one current property and hopefully adding 1-2 more in the next few months 

@Jay Levy All very good points and insight. Thank you. 

@Luke Carl good advise, just trying to grab a few ducks to fill those mid-week spots and if I can make it easy to grab them, why not! Oh and looking for that next property too I've already talked to @averycarl and looks like your area is next on the list! 

@John Underwood That sounds like our exact situation wit ha similar ADR. Would you be willing to share that lease template?What are you using for your site template? I'm sure it wouldn't be terribly hard to throw a site together to allow people to book direct. 

Thanks @Allan Smith very helpful. Do you have a short term lease template you use that you would be willing to share? 

Does anyone ever book "off platform" from VRBO and AirBnB? We have a STR in a ski town and are apart of a Facebook group for that ski mountain and have been asked quite a few times about booking direct. It would save the AirBnB fees for the guests. Does anyone else do this? if so do you request a deposit and/or have an agreement that you have them sign? Any feedback would be appreciated. Thanks!

Hi All,

Looking at potential properties in the Palm Springs area for our next STR. Looking for a referral for a realtor in Palm Springs, could just do a Google search for a realtor (I'm sure there's a ton) but wanted to check here first. Does anyone have any references? Looking for someone that has STR rental experience in the area, especially if they own their own STR's would be a huge bonus.

Any recommendations would be appreciated. TIA!!

Hi All,

Looking at potential properties in the Palm Springs area for our next STR. Looking for a referral for a realtor in Palm Springs, could just do a Google search for a realtor (I'm sure there's a ton) but wanted to check here first. Does anyone have any references? Looking for someone that has STR rental experience in the area, especially if they own their own STR's would be a huge bonus.

Any recommendations would be appreciated. TIA!!

The biggest thing that I would look into is annual gross per bedroom. We have a place in Mammoth that will gross around 20-25K per bedroom. Take that projected gross and subtract that from you debt service and expenses and you will know if you can make it work. As mentioned above your utilities look off, I also wouldn't worry about the cleaning too much as that along with TOT should be considered mostly a pass through. Also not sure if Big Bear has HOA's or not so may need to figure for that as well.

@Nathan Gesner that’s kind of what I was thinking.  I am involved in numerous syndications so am very familiar with the structure.  Since there is only two of us was trying to simplify things a bit.  I do think the idea of a fee at acquisition is a good idea since we will be doing all the work. And maybe it is something simple like 10-15% management fee.  Any templates you are aware of to draft something like this? Thanks!

Just recently launched our first STR 3-4 months ago and so far so good. I have been approached by an LP investor that would like to partner with us to scale to additional 10-15 STR's in various cities.

In short, we would split initial rehab/furnishing costs and down payments and both be equal equity partners. We would provide all of the day to day communication with guests, marketing, hire the team in each city etc... 

What would be a fair profit split?  60/40 as we will be managing? More? 50/50? Other thoughts or advice?

Looking for a bit of advice for others whom have developed similar partnerships with others. 

Also any agreement templates we can start out with to tailor to our needs? Would love to have a template to start wit tho have an attorney review. 

TIA!