All Forum Posts by: John Majoris
John Majoris has started 8 posts and replied 117 times.
Post: Hot Tubs - Do you drain between guests???
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
For the hosts that have hot tubs, how often do you drain them? I've read a few older posts here where host's drain their hot tubs between every stay. I just drained and re-filled our 400 gallon personal hot tub, and it was a 2 day event.
Is there a particular manufacturer that makes a good STR Hot Tub? I'm mostly concerned about a guest inadvertently down cycling it and putting it into economy mode which turns the heat down low, (which I fat-fingered by mistake on our hot tub when we first got it...)
Maybe a Hot Tub that you can lock the screen so the ham fisted and kids among us can't screw up the settings???
Or is that something that never happens in real life?
Thanks!
John
Post: First Rental Property Investment In The Books...
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Thanks Russ
Post: First Rental Property Investment In The Books...
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @Russell Grevler:
@John Majoris, western Catskills. The properties are in Denver/Roxbury, Margaretville, Stamford and Jefferson.
Hi Russ,
Was are the main attractions up there? Skiing? Hunting?
Post: AirBnb business contract
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Hi Marc,
I know you're busy, but it might be a good idea to just jump in and learn the STR business...
John
Post: Airbnb Property Manager
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @William Leahy:
Load the home with smart home tech. Hire a rockstar housekeeper and a handyman. Manage the rental operation on your cell phone.
This!
Post: Airbnb Property Manager
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @Anna Phillips:
Hi there! My husband and I are in the process of setting up our first airbnb property in Saratoga Springs, NY! Looking for a reliable property manager if anyone knows of anyone in the area. Also wondering about payment. I know typically property managers receive between 8-12% of the monthly rental income and I'm wondering if that is the same rule of thumb for airbnbs.
Hi Anna,
Congrats! Good for you guys.
I agree with Luke and John. Bigger Pockets has a ton of info on STR remote self managing, and it's all about setting up the process. All that you need is a smart phone and a few apps.
Find a good cleaner, they are a godsend to you business. Add a good handyman, and you're 95% there.
The ease of the above, combined with an approx 25% property management fee, should make your decision pretty easy.
As an aside Luke's wife @Avery Carl just released an excellent book on STR's through bigger pockets. She goes into details on exactly what to do. The two of them have created a mini empire with STR's, so you know their advice is rock solid.
Good luck, and let us know how you do!
John
Post: First Rental Property Investment In The Books...
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @Russell Grevler:
Hi Marija - I bought my first property in the Western Catskills about 3 years ago. Since then I've acquired another, started a prop management company and am now managing 4 others in the area. All are STR.
Hi Russ,
Where in the Catskills are you?
Post: How to approach AirBnB owner to buy their adjacent lot?
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
I would contact them over the Airbnb app and let them know that you are interested.
If I didn't hear from them I would ask the neighbors to let them know.
If I still didn't hear from them I would send them a letter.
Good luck!
Post: Agent said not to worry about cash flow and consider tax benef
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @Nathan Yarnell:
So I recently was sent 2 possible duplexes to purchase from an agent I trust. I ran the numbers using the basis Brandon lined out, and the properties comes out to a negative monthly cash flow by about $175 per property . I told the agent I had to pass, and gave her the reasons why. I got a follow up email that was considerate and agreed with my assessment but also stating that people get to caught up on “monthly cash flow, and should consider the yearly tax benefits.” Being that this would be my first investment, am I being too picky? I’m not looking for a crazy cash flow, $150/$200 a door, I just don’t want to be negative. Thanks for any input!
I'd take a BIG pass on loosing money. Appreciation, mortgage pay down, and tax benefits are icing on the cake.
I'd find a new agent too...
Post: STR Crystal Clear Criteria - Smoky Mountains
- Investor
- Clinton, NJ
- Posts 118
- Votes 70
Originally posted by @Collin Hays:
Originally posted by @Avery Carl:
@Collin Hays is that on Circle rd? I think I remember that being for sale. That's awesome!
Avery, it is 289 Roaring Fork Road. It sits about 8 feet above the river, and you can hear it throughout the cabin. We were heartbroken when it burned. The place was historic. Dolly Parton's brother added the loft in the 1970s. The cabin had a reputation of being haunted, with all sorts of wild and crazy stories - some of which while we owned it. We had a grandfather clock in the dining room from the mid 1700s. Lots of really cool antiques.
We rebuilt a cabin there with yellow pine logs from British Columbia. There's no sheetrock in the place. It's a lovely cabin, but nothing can replace the old "Cabin On Roaring Fork."
Hi Collin,
How does the revenue compare?