All Forum Posts by: Erik Kuhi

@Peter Hendriks

I have 2 vacation rentals in Kissimmee that I'm looking to sell. I live in NJ and just don't have the time anymore to give them the attention they need to succeed. It's definitely not as easy as it was a couple years ago. There was a lot of competition when I bought my 1st property in that area in 2018 but a bunch of new STR communities have popped up over the last few years leading to a much more competitive market. It's still a great area to invest. Just be ready to put in the work. You need to stand out in the crowd to be successful.

Watch your expenses. Insurance has gone up quite a bit, property taxes and HOA fees as well. Calculate your deal conservatively. Be prepared to put extra effort into design and setup and market your butt off. Once you get rolling make sure you take great care of your guests. Respond to messages as quickly as possible. Your reviews need to be as positive as possible. There will be your occasional hotel snob that doesn't understand STR and complain that you weren't at their every beck and call but if you're responsive and fair your positive reviews will stand out.

Hope that helps! Unfortunately I don’t know Floridays specifically but hopefully my info will help give you general idea of the current state of the area near Disney.

Good luck!

Erik

I have a rental property with a lot of equity that I was looking at opening a HELOC against. The loan officer I worked with to buy the property offered me a HELOC but said for this product I would need to make a full withdrawal at opening but that I'd be able to put the funds right back in to pay it off. Then I could use it like a normal HELOC. Does that sound legitimate or is that a way to turn a quick commission?

@Pam Lynn are you looking for Stessa? I know this might be a little late but hope it’s the answer to your question. Stessa has been very helpful for me over the years. If you use it try to stay on top of managing it. I let it go for a while and it took a lot of work to clean up things that weren’t categorized correctly.

@David Rosenhaus

I have to echo much of what I’ve been seeing in previous comments.

Learn learn learn and network network network!

You're off to a good start with this post. So many great comments and advice. I know you're in a tough position because NJ is a tough place to get started. I live not to far from you and look for deals all the time. I have yet to find anything that makes sense which is why I began my REI adventure in FL. I honestly think taking your time to meet other investors learn from them and save up money will be your best bet. It's a sellers market right now but it will come back around. Be ready to pounce once it does. Once COVID restrictions loosen a little more the meet ups should start back up. There is 1 in Belmar and 1 in Asbury Park that I recommend attending when you can. I personally can't wait for them to start back up. They've been doing virtual events which might be good for you as well but I prefer in person meet ups myself.

Best of luck!

Erik

@Miguel Bautista

I live in NJ and have 1 accidental rental property here that is just breaking even. I have 2 properties in FL that make a little cash flow per month. I occasionally look in NJ but haven’t found anything that appeared to be a good investment. There are a lot of multifamily properties all over jersey though and people renting them so it must be working for somebody. I imagine the timing right now probably isn’t too great to be buying. I hear a lot of people are leaving NJ and NYC which I think can bring down prices in the next year or so if that trend is true and continues.

My best suggestion is to take your time. Do your research and try to find what part of Jersey you’re interested in. If there is any way I can assist please feel free to message me.

Thanks,

Erik

@Jerry W. , Thats how I've been doing it currently. I've enjoyed using OwnerRez up until I added AirBnb. I honestly thought I'd just add AIrBnB in and have 1 calendar to manage both platforms automatically. When I requested the best way to go about it the answer wasn't really what I was expecting. Long story short is it would cost me more money which is the opposite of what I'm currently trying to do. SmartBnB shows it being $18 a month for the first 2 properties. With OwnerRez I'm paying $44 a month. I also received an email stating there is a price increase on the way. I really need to reduce costs for a little while so this is not a good time to receive an email about a price increase.

Hi All,

I’m wondering if I can get some suggestions on different Vacation Rental Management Apps. I’m currently using OwnerRez but looking to see if there is a better option. I was only listing on VRBO until about a month ago. I asked for support on adding AirBnB to the platform and was told for AirBnB I just needed to follow some simple instructions but for VRBO which was already working I’d need to add a credit card payment processor. That service would cause an additional monthly fee and shortly after that I received an email that the OwnerRez subscription was also increasing. I’m sure they have good reason to raise their prices but now is not a good time for us to have any type of expense increase. That being said I can use some suggestions on other options to see if I can find a better match.

I recently heard of SmartBnB on the Real Estate Rookie podcast. $18 a month for the first 2 properties and their website states it works great with AirBnB and VRBO which is exactly what I need. Can someone share their experiences with SmartBnB?

If anyone can make recommendations on other platforms that will be great as well.

Thank you in advance!

Erik

@Henry Lazerow

I personally would appreciate it having a shoulder tattoo myself. I don’t judge people by appearance on that level. Its more your actions and ability to find and work on deals. Treat people well and prove your skill set and a tattoo will be irrelevant. I can’t imagine how a tattoo could make you a bad agent. I would think a tattoo might lead me to believe you might be more creative since you have artwork on large portions of your body.

Of course I can only speak for myself and my views. I can only hope more people have begun to be less concerned with appearance and more concerned with actions.

@Patrick Froehlich

I got in at 42. It’s about taking action. The sooner the better but any age is better than never. I looked at real estate for many years but didn’t take the proper action until I was in my 40s. I’m not crushing it yet but I know I’m heading in the right direction.

Jump in! Enjoy the adventure!!! Even if don’t make millions you’ll be better than if you never tried.

@John Moore I have a short term rental in Kissimmee. Because it's a STR my property managers are very active and I've been very happy with them. They are 1st for Orlando. I believe they handle traditional rentals as well. For lending I also had a great experience with SunTrust Bank. The team I worked with were in North Carolina so everything was done remotely and went very smoothly from beginning to end.

Best of luck!

Erik