All Forum Posts by: Jeff Costa

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $215,000

Buy and hold 2-story duplex in great neighborhood in Rochester, NY.

I put alot of weight in current property tax when doing my pro-forma, as it can easily blow up OPEX and kill a deal. I don't think much about for the future, as I expect it will always go up, not down.

@Nathan GesnerMillionaire in a nutshell: "Big hat, no cattle."

@Matthew Cervoni I put together a checklist for interviewing property managers that you can copy and reuse. Its available here: https://docs.google.com/docume...

Thanks @Jeffrey Albaum. Looks like AirDNA can get me the topline estimates, but nothing below the line as you stated. This feels like a gap in the market for a SaaS company to fill...

Is there an equivalent software product to DealCheck for short-term rentals? The tool seems to focus on LTRs, BRRRRR, flips, and wholesalers. I would like to be able to quickly evaluate an STR in the same way DealCheck enables you to "thumbnail" an LTR deal.

Any ideas on a substitute tool?

I have never seen a working example of making an beachfront STR work as an LTR. I'm sure there are some, but whenever I run numbers to convert a beach STR to LTR, the HOA fees and much higher mortgages blow up the OPEX, resulting in negative cash flow.

Does anyone have a good punch list they use during tenant turnover? A set of items you do to ensure the property is rent ready? This list assumes an annual LTR rental lease expiration. I started a list below, but would appreciate anything you could add to it. I will publish the final result as a shareable Google Doc.

1) All exterior locks replaced by PMC
2) Garage door remotes working properly
3) Exterior doors - make sure they open/close properly and don’t stick
4) Furnace - purchase filters and replace existing filter
5) Smoke Detectors - replace batteries and test
6) Towel bars - securely screwed into wall
7) Toilet paper holder - securely screwed in
8) Toilets - flushing and not leaking
9) Sink - ensure they aren’t clogged and faucets aren’t leaking
10) Replace 
11) Have HVAC system serviced
12) Replace dryer lint trap
13) Ensure Co2 alarms have new batteries and are working

 @Zeona McIntyre May I also please obtain the furnishing list? I did not see the book released as yet, so asking here. Thanks in advance!