All Forum Posts by: Joshua Strickland

I would if I were you. Especially look at any termination clause whether it is for non-performance or if you ever decide to go a different direction. Typically contracts are very friendly to the party that put it together.

I stick with Airbnb and VRBO, but am developing a direct booking site now. You’ll want to do this eventually.

Sync with a channel manager. There are a million of them. I currently use Smartbnb. It also automates 95% of my messaging.

You’ll want a good electronic door lock. I use Schlage encode, but there are others.

Check out pricelabs for pricing. 

@Keegan Lawyer Absolutely

I have 2 sets my cleaners alternate between. 

You can do that with 1 larger cabin or beach house in the right market. (Smokies, Florida panhandle specifically) I’m sure there are other markets also.

If I were you I’d go ahead and buy a smaller property in one of the vacation markets. Maybe a 2/2. If you manage it right it will gross north of $50k/ year. Probably more around $60k. That should get you around $15-20k net. Rinse and repeat as you save your income to reinvest.

2 answers here…

1. Convince a landlord to be their property manager for a stake of the income the property produces. You’d need a pretty compelling case as to why they should use you versus a regular property manager so know your stuff.

2. Don’t do this. Put sound personal finance principles in place, work multiple jobs, and cut expenses Dave Ramsey style until you can afford to buy it. I’m not an all cash guy, but you do need very sound finance principles before getting into real estate or it won’t work.

Airdna is ok depending on the market. Typically is low in the markets I’m in.

Verify with other str owners in the area by looking at the calendars and rates of similar properties on Airbnb and vrbo.

@Steve Nafziger I’ll take the cop out answer and say it all depends on the property, but in my experience it does seem like a property that is just off the beach can be just as profitable for far less costs. It still would need easy-ish access to the beach. If it’s only a few blocks, I’d say you’re golden but check with your local realtor first. If the realtor you’re using doesn’t know, then get a new one.

Concentrate on one market initially and once you have a proven model to build your team you can diversify. There are plenty of markets that will cash flow well. Check out the below Airdna post to see a few. My favorites are the Smokies and Florida panhandle because I also get to use them as vacation homes a few times a year. All depends on your personally strategy and what you want out of it. The best place is the one you have the most knowledge of. (More or less)

https://www.airdna.co/blog/bes...

I had this happen just before summer. Like @Luke Carl said… I disconnected everything and re-synced it all. It was a pain but I haven’t had an issue since.