All Forum Posts by: January Johnson

I work for The Short Term Shop, and we are in 20 STR-friendly markets around the country. I recommend that you go to our website and look at our market-specific podcasts. There are 10 episodes covering everything you need to know for all of them. PM me if you have specific questions. I sell the Emerald and Forgotten Coast (FL Panhandle). Good luck to you!

LOTS of people in beach markets like mine report the Schlage Encode has issues with the humidity/moisture.  I don't use them - I'm just reporting.

 STAY AWAY FROM THE LENDER AT ALL COSTS!  I am NOT KIDDING.  I have never had a good experience with them as an agent, and just recently had them bait and switch a buyer (I had the seller) AT THE CLOSING TABLE.  She thought her rate was 6.75 but it was 8.75 when she sat down to sign.  I helped her find another lender at the last minute (literally), and they closed her in 14 days.

PM me if you'd like that lender's contact info.

STAY AWAY FROM "THE LENDER" though. My whole team has horror stories to tell (and we are 50+ agents in 20 STR-friendly markets) - The Short Term Shop.

March is going to be one of your biggest months. Don't count it out!

Hi there - I work for The Short Term Shop, so I can answer a lot of questions for you.

Our high season begins in March.  March and April bring families and college students for spring break.  Our slower months are definitely Nov - Feb.

How big is the house you are building and where is it located?  North of 98 won't do well for STRs.  Properties with more than 4 bedrooms won't rent as well in the off season.  Do you have a pool?

There are MANY factors to consider here.  I'd be happy to speak with you further if you'd like to PM me.

STR is a strategy and an investment (furnishings, learning to self-manage, hiring cleaners, etc.)--not a backup plan. Also, if you're near a golf course and don't rent it out on weekends, you might not have enough renters to make it worth your spend.

Realtors don't just show houses on weekends, either, so I don't think this is a sound strategy.  Either go all in on the flip and sell or all in on the STR, but don't try to mix them.  You will only frustrate yourself. Plus, you'll have to do something with all the furnishings after the sale as well.

99% of what I sell are turnkey STRs.  It's helpful to post rental history if it's good.  In my market, buyers are looking for about 12% or more in gross rental income relative to purchase price, so if you have a $500K property that's only doing $40K/yr under the current management, don't post rental history (though most buyers will ask for it, so be prepared to explain why it's performing the way it is).

Also, network with agents who specialize in STRs. My team is in 20 STR-friendly markets, and we have access to tens of thousands of STR buyers and owners.

Coffee pods, powdered creamers, a variety of sugars/substitutes

Plus all the expected tp, paper towels, dishwasher and laundry pods, basic spices, etc.

Be sure and read @Avery Carl's book, Short Term Rental, Long Term Wealth, published by BP.  Start there and join the Facebook group by the same name.  Lots of free resources for learning about STRs!  I'm also happy to answer any questions you might have.  I own 4 on the Emerald Coast of Florida.  Good luck to you!

IMPORTANT:
--Guest communications, including setting up your automated messages

--Price adjustments (key into seasonal pricing and important events in your area)

--Listing description and noting amenities

--Guest reviews

--Learning from experienced hosts with great reviews (you can do this on many social media sites, including the Facebook group, Short Term Rental, Long Term Wealth)

UNIMPORTANT:
--Watching your Ring Doorbell camera

--Obsessing about minute details that other hosts are freaking out about

--Being a control freak about ANYTHING related to this business.  You just cannot control it all.