All Forum Posts by: Donald Hatter

 TAR (Texas Asso. Realtors) are only for realtors. No need to delete post, can be helpful to others.

Hey @Donald Hatter, too much risk on your part IMHO.

No way I would rent a property to a arbitrager for market rate. Like @Daniel Tanasa said\ 25% above market.

You should look into doing a STR yourself if you are interested.

 Hey Donald,

The best mortgage terms you're going to get are going to be when you buy a property under your name (although DSCR loans are very close to that now). Because of this reason my first 10 deals I bough them under my name and then transferred them to the LLC. After that I am buying everything in my LLC now.

I hope this helps. Good luck!

 1. We absolutely background, credit and eviction check every prospective resident that does not book through an Airbnb-type platform ("OTA"). We use Avail.co to manage our rentals' leases, rent collection and checks. We let prospective renters know what our criteria are prior to them paying $55 to be checked. That way, they don't waste their money if they know they will fail. We have a modest security deposit collected up front along with 1st month's rent and the cleaning fee. As soon as we can, we'll prorate rent to the end of the month with the residents permission, so that now they are synced up with all of the other payments depositing near the 1st of a month. 

2. The dynamic pricing for the OTAs has been hit or miss for us. I would suggest setting "instabook" to "off", allowing one of the more flexible cancelation options, and having a minimum stay in line with your local ordinances. Offer a significant discount for 1 week and 30 day stays (after setting your daily rate to accommodate the price drop with discount). To increase views, go into your listing periodically and lower the daily rate for the week or two after you have an expected vacancy, but increase the nightly rate after those two weeks so that you are still getting your target monthly rent. This encourages guests that will best fill your units back to back without sacrificing your over all monthly rent. 

3. Definitely learn about and post to furnishedfinder.com. It's not a booking site. It's a matchmaking site where you will have to reach out to prospective residents, background check them and create leases. ALE solutions, united corporate housing and alacrity are large companies in the insurance relocation space, and it is useful to go to their site and let them know you exist. Each site works a little differently. 

Best wishes