All Forum Posts by: John Mausteller

Quote from @Kyle Tusing:

Quote from @John Mausteller:

Quote from @Susan S Morris:

Hey Brandon! Nice to meet you. I am the Broker/Owner of Open Gate Realty Group in Midlothian.

I have had just the opposite outcome. Possibly it's the type of houses that those folks bought. My investments are beach boxes, no more than 1200 sqft., no pool, no hot tubs, all located between the byways. The first one I bought in May of 2017 is completely paid off all by Airbnb. By managing them myself through Airbnb, I don't have the 17-23% fees that beach management companies charge.

Hope this helps!

 Brandon, I second what Susan says... beach boxes can be the way to go! Especially if you set them up right and they are walkable to the beach like Susans!

 So would you say beach boxes are easier/have more cash flow than say a bigger beach property with all the bells and whistles? It's probably a year or two out for me however a long-term goal of mine is to have a beach property. 

Hey Kyle!

With the smaller houses between the highways, you can get in at a lower price point that the larger ones,and they tend to rent more in the shoulder seasons due to the smaller size , when just a couple or two, or small family are looking and they don’t need a huge 8+ bedroom home.  That is one way you can maximize rental income with these smaller homes.  Then in the summer they rent incredibly well also especially with the walkability to the beach.  

I agree with many of the above posts.  I pay for Airdna and use it alot - but it is just averaging all the comps it is pulling from. I find its best use is to scroll through the comps it is pulling and use actual properties that are similar to yours (size, style, amenities, decor, etc etc) and see what they are doing yearly.   If your property is so unique that none of the comps compare, that is when you will have to do some more homework in surrounding markets and try to find something very similar.   I think AirDNA is a great tool but not perfect. 

I agree with many above - get multiple opinions.  One of our investment properties is a walk out basement - and has had some leaks in the past caused by improper drainage.  regrading the area where the leaks are improved the drainage and caused the leaks to stop.  Make sure water can easily drain away from the area versus flow towards the house and have nowhere to go but down and eventually into your basement. 

I usually start with Airbnb and VRBO - looking at properties in the area you are analyzing, specifically similar sized homes to what you are considering purchasing, and similarly set up homes (decor, style, hot tub, pool, etc etc). I look at how many rentals in my size, etc are in the area as well. I then use AirDNA and I pay for the area - so that I can see all the comps they are pulling up and individually look at each comp, and how it compares to the home I am considering purchasing for an STR. In this day and age, the homes that perform the best, are the ones that the owners put intention and thought into when setting it up. Make it unique so that people WANT to stay at your rental. I know there are numerous sites like Airdna - so you could use a multitude of them. Hope that helps!

Hey Jon!  Welcome, I live on the Outer Banks of North Carolina and own three single family homes and one quadplex a little outside of Asheville NC - about two hours from Charlotte!  Would love to talk multi family with you, we just bought the quadplex last year and it is our first venture into multi family! 

Who does the grass belong too?  A neighbor or is it common land?   I would definitely list it in the description and I agree with minimal interaction and most airbnb guests prefer that as well.   Depending on whos land it is, I wonder if you could put something non permanent down such as stepping stones or even wood walkways that you can easily remove.  

Airdna for short term or Zillow or websites like that can estimate monthly rent if looking for long term.  I think being close to a college you could get some weekend stays from parents visiting kids at school, etc. 

Welcome to BP Vince.  Multi Family can be a great investment - we just bought our first quadplex after purchasing several single family homes.  I like the various opportunities multi family provides.  Are you looking just in south florida?   Congrats on getting started in your R.E. investment journey and planning for the future! 

Looks good! Great photos!  

To echo what others have said - where I live and sell real estate, on the Outer Banks of North Carolina, almost every home is on a septic tank.  There is more maintenance, with pumping every few years, and you should only flush toilet paper and human waste down the toilets.  Otherwise, it is much the same as public sewer.