All Forum Posts by: John Mausteller

It sounds like paying her an hourly rate if she has to go over there or address some issue that it takes someone local to do.  I would say hourly or a flat fee - she does not even have to be a co host to do that, you could just communicate it to her.  Being a co host then she will be getting all the messages and inquiries as well which seems not needed if she is not going to be doing any of the responding. 

I have not used Evolve personally but have noticed that properties that do use them in my area (Outer Banks of North Carolina) have less bookings, and a lower nightly rate that homes that are managed by the owner or a local 'co host'.  I also agree with what you said about the renter preferring a custom experience with a local host or home owner versus going through a big rental company.  It is nice that they only charge 10% but it seems they are not on top of getting the property booked out.  When everyone else around here that is self managing has their property fully booked, and the evolve properties still have vacancies , even with the lower rates... 

Hi Madison -

I don't have any STRs there but I have a few elsewhere and I use to live in Charleston! 

 I have properties in the Outer Banks and in Western NC mountains. I self manage them on airbnb and it has been great. Both of them rent very well short term and at the beach everywhere there are short term rentals and always have been so there is not really areas that 'restrict' them or much talk about it since so much of the Outer Banks was built as a short term rental destination. 

Foremost is what I use. 

There is a great episode on bigger pockets regarding this that I found very helpful - episode 595. It talks a great deal about this and buying under your name and switching to an LLC at closing.

Hey Michael -  I own investment properties on the Outer Banks and we have had good success with homes that are a little further from the beach (i.e. you have to drive to the public parking / beach access) and they have rented out great.  They are priced less per night than homes that are within a short walk... most of these homes you could walk to the beach also (the outer banks is a skinny island most places) but there is a 5 lane road that cuts the island in half so you would have to cross that, which makes driving easier especially when lugging beach supplies.    There are homes of all sizes in these areas, we have had smaller ones (2-3 bedrooms) but they have rented out great, even in the 'off' season. 

Have you tried any non traditional lenders that would lend based on the rental income that the short term rental will bring in?  Some type of bridge loan, higher interest, but it would speed up the process and get the tiny house built and up and running quicker and then refinance into a more traditional mortgage... 

Hello -

I am also a realtor and I own a few rental properties that are all STRs and rented through Airbnb.   I think running the numbers, figuring out all your expenses, and coming up with a conservative estimate on what the home will bring in annually is a great starting point.  I also think walking the home, and the town can give you an idea if it will be a good short term rental area.   Most of my investments have either been locally where I live (Outer Banks of North Carolina) and it is a tourist destination so I knew STRs would go well here.   My other investments have been where I wanted to vacation - and it has been a good strategy for me.  I also believe in your gut feeling, this gets better as you get more investments under your belt but I believe you can feel if an investment is right or not.  As I said, running numbers are a great place to start but I have also seen people talk themselves out of great investments because the believed they could not make the numbers work, and then end up regretting the decision.  Be conservative with your numbers, but also trust your gut.   

I would call the cities and towns you are thinking of, and also check out listings on Airbnb and VRBO there.  If there are restrictions, many towns require the permit number be listed on the website where the home is rented through.  Also, if you see lots of rentals available in the area, it will at-least let you know they are allowed in some capacity.  The best bet is to call the towns or cities though and ask - you will most likely get the most accurate answer.