All Forum Posts by: Jon Martin

When buying new furnishings, use Wayfair to filter for what you need but do not buy anything there. Check the "No Assembly" filter because you will either pay the difference in your own time, or money to somebody else to assemble it. Plus delays in getting listed. 

Once you have some items that look good, right Click on the photo and scroll down/select "Search Image on Google" (in Chrome browser) and it will find the photo from the retailer that Wayfair drop ships from. I've found the exact same items for well over 50% off. 

Go with a butcher block island for a dinner table and buy some metal legs from Etsy. Restaurant supply companies for chairs. Instead of 2 nightstands and a dresser, go with a 3-drawer chest on each side of the bed that will function as both. 

Hi agree with @John Underwood Even if our insurance allows it you are still exposed. 

Like mentioned above, there are plenty of safe alternatives that work for younger kids- putting green, cage basketball, soft ax throw etc 

If you are treating your STR as a business, I have a hard time understanding why more people don't allow this. Collect fees and if there are damages you can go through insurance. Unless it is also a property that you have for regular person use.

At least for dogs. Cats make me nervous, I worry about them scratching everything up and then I would need to replace a bunch of stuff in a tight window. 

 No . .. Good thing the OP is in Oregon! ;)

 Nice- sounds like it! What was your average before?

A few things that come to mind for me:

-I wouldn't put the cleaning fee as a monthly line item at $400. That should be a pass through cost where the guest pays roughly what the cleaner asks. That said you should account $100/month for random fixes, plus another $100-200 for CAPEX.

-I'd expect utilities to be more unless it's somewhere with perfect weather year round and cheap rates. Sounds cheap for power/gas, water and trash 

-Agreed that your insurance will be much more than what you are accustomed to. Also not clear if property tax is included in your mortgage?

-Depending on the property you might need lawn care, exterminator and other misc stuff that is easy to forget about 

-Consumables: TP, PT, bar soap, shampoo/conditioner, laundry pods, garbage bags, coffee, coffee mixers etc add up. I estimate $80/month for a 2/1 with Costco grade stuff. I keep the bulk of it locked up but leave a bit extra that is accessible so that guests don't run out. I could be a bit scroogier without pissing guests off, but don't be that host that only leaves 1 roll of TP and 1 spare garbage bag. 

-$10K renovation still seems light even if it's DIY, at least to the extent where it will make a significant difference in the appeal of your listing photos and command a higher ADR. IMO, although I could be wrong depending on the property and market 

Overall I think the numbers look decent-to-good, especially at that entry price. If the location is good and you feel good about the property and market then  it sounds like a good entry level property. If it's doing well in a saturated market then it could probably do better with a facelift and good management, all of which are under your control. 

I did with my first property. I wasn't sure what I was doing and needed some pointers. Think I spent around $1K. It was worth it because the place looks great. 

Now that I've done that, I initially didn't see the need for my next property because I understood the basic concepts. However the property I ended up with has an odd black/brown countertop pattern with an 80s style oak cabinet stain, along with brown floors and a beige backsplash, so it's brown on brown on brown. It's tough to figure out what I can do with the backsplash or peninsula to make it pop in the photos and look appealing without painting the cabinets. Therefore I'm calling on the same designer to see if she has any ideas on how to make it work, or if she also agrees that painting the cabinets is the only route. 

Therefore I don't think you need a designer to do everything for you, but you may want someone to give you input, especially if you are trying to make some elements work without having to replace them. 

So does this cover the base of a Router and/or Modem, or does this connect to your Router/Modem? 

Not while in Europe, but I manage remotely from several time zones away. It makes zero difference so long as you have systems in place and boots on the ground that you can call on in a pinch

Only issue is that your guests may hit you up with issues while you are sleeping because of the time change. 

@Owen Rosen if you have a contact who does that sort of thing please PM me. Thank you