All Forum Posts by: KiKi Wood

It is whatever you're most comfortable with! We manage STRs for a lot of out of state investors that have the same worries, but it is just the way you set up your systems and teams!

I would make sure you have a strong cleaning team, and maybe find someone that lives near by, that would be willing to do emergency maintenance for you. If you're looking for systems to automate the process more, I recommend Guesty for hosts, so you can automate messaging and such. Also, dynamic pricing (we use PriceLabs) is a great tool to use so you're not having to tweak the price on your own as much. Best of luck!

Hi @Clayton Sneider! STRs are super exciting. Just make sure your numbers are solid, and get systems in place to make managing it so much easier. When looking at how the numbers are, look at competition in the area, how much they are charging per night, what their fees area, and how often they are booked. The free way to do that is to look on a map in that area on Airbnb, and act like you're going to book on of the competition's homes, to see how much they charge and such. Obviously don't actually book, but it should give you a good idea! 

Make sure you know the restrictions in the area, and have a solid cleaning team (if you choose to do that). Best of luck! :)

I can really go either way. We use it, and pay to have access to all of Indiana. We use it, but only to get an idea of what rentals are in the area. We try not to depend on it TOO much. 

Is there something in your agent's listing contract that explains what happens if you bring a buyer? If that is allowed, I would have your agent list the property, offer it to be furnished or unfurnished, and you can market it through BP or other sites. But make sure your agent is ok with this and there is something in the contract outlined about it. 

Wow @Noah Laker! That's awesome. What systems do you have in place that you feel sets up apart from other managers, and helps you manage all the properties well? 

Hi @Christopher Ochoa! I have a lender that works closely with investors, and I would love to connect you with him! I'm a local Realtor in Indy, and all my investor clients work with him. I'll message you his info! :) He will also have this info, so he can help you learn more!

 We use Minut for indoor monitoring, and exterior Ring cameras for exterior monitoring! We do a camera at every entrance to the home. :) 

We have also (thankfully) never had to deal with the customer service, but haven't really had problems! Hope this helps. 

We personally have one arbitrage unit, and it is in our personal name, maybe if you had a handful I would put them in an LLC, but I don't think it's necessary now.

We switched from NoiseAware to Minut, and we love it! It has been a lot easier to take care of, and honestly, they are more discreet. With NoiseAware, we were having repetitive problems with them randomly going off. But, nothing like that yet with Minut! 

We haven't personally seen this in Indianapolis, IN (knock on wood!)! But, it is something to definitely keep in mind.