All Forum Posts by: Joey Morea

@Benjamin Greene

Trade the lease car in and buy or lease another car but put it in your name. I am in the car business it’s a pretty easy thing to do. I once had to do that for my wife traded the car in took it out of her name and put it into mine on the new one. Between now and end of the year is the best time of year to get a deal on a car anyways. You might even be able to lower your car payment.

@Dan Edwards

Do keep in mind Airbnb will not let you keep the previous reviews or Superhost status you will have to gain that yourself on your listing. VRBO/HA will let you transfer reviews if seller gives permission. You will won’t both of those at very minimum to maximize your exposure.

Yes I always look at gross rent not including cleaning.

10% down I think is a bit risky on a lifestyle asset as you sound like you want it to be for you and your family. I am a fan of at least 20 to avoid mortgage insurance and give you a better equity position and better cash flow position.

@Dan Edwards

The cleaning fee is added on to the booking as a pass through so I would not include that number into your numbers the way you calculated it. What kinda of yearly gross can a 325-350k place in big bear bring? I would make sure you know those numbers and research that a good amount.

@Thomas Zamora

Remote lock is the way to go 6 per month per lock. Connect it to the Vera hub and get the York yrd216 deadbolt or the Remote lock CG 7i if you need a lever lock. Integrate it into your Vrbo and Airbnb and when you get a booking it automatically makes a code for the time of their stay and if you want it to will email the guest the code with the check in instructions. Or you can set custom codes. Get alerts when the first time they check in or when the cleaners open the door for cleaning after check ins. I manage two STR out of state and having this info is so helpful. I personally think you open yourself to a big liability risk if you are using the same code or giving guest physical keys where they can make a copy.

Keyless entry if you need a deadbolt style get the York yrd216 zwave and pair it with a Vera hub. Or get the remote lock CG 7i if you need a lever lock that can handle tough conditions like a beach or something. Download the remote lock and integrate it into Vrbo and Airbnb to automatically send codes when guest book so they are only valid during thier stay.

Thermostats get the ecobee way more settings easier to use and you can adjust the the temp range so it will only turn on every 1.5 temp vs .5 to save power and life of unit.

Camera system if just retrofitting a ring flood light can should work well.

TVs get the TCL roku tv. Cheap and easy to use. I have 8 of them.

Coffee maker I wouldn’t get anything complicated keep that simple and everything else.

Make a YouTube video on how to operate everything and send it to them with your check in instructions that way you avoid any extras questions.

Tvs are so cheap now I would get one for every room. I recommend the tcl with built in Roku. They are like 250 a pop for a 4K smart 50 inch tv crazy! I have 8 of them. I get guest comments that they love the tvs since they can stream whatever they want. The other plus if you stick with same brand tv the remote can be interchangeable so you don’t have to worry as much about not being able to use it as they can just use a remote from another room till they find it. And replacement remotes for the TCL are like 7 a piece.

@Ken Latchers

Why are you always negative to people's ideas but never actually share where you like to invest? Maybe he is looking for a lifestyle asset that he can use at times while also having the income of a STR. I know that is why I prefer STR. Also the benifits that come with not worrying about evictions and other things that you have to worry about with a LTR.

40k gross on a 250 investment is pretty good even at 30k with expenses that's still over 10% with the Benifits that you have access to your property whenever you like. Also a STR will tend to appreciate more since it will be in a vacation destination.

@Phil Wrigley

I think you could find something in that range but would plan to spend some money on updating it and theming it up some if you want to maximize the rental. Something in that price point is probably going to be a bit beat up or need some renovating. Make sure you are looking at resort community’s that cater and are zoned for short term rentals in Osceola county.

@Phil Wrigley

What price point are you looking at? Are you looking to self manage or use a PM?

whatever you get get a glass company to make custom glass toppers for every table night stand dresser etc. this will keep you furniture in much better shape.