All Forum Posts by: Leslie Anne Morris

I'm wondering if you could qualify for a DSCR loan considering you have experience operating a STR. It is worth exploring. The rates will be higher but the criteria will be more focused on what you are buying. I think the only stipulation is that you won't be able to live in it. It would need to be for investment purposes.

This is really tough because you need to have cash in hand and most lenders will want it to be actual cash and not borrowed funds. With that being said, you could look at unconventional methods such as borrowing from retirement funds or partnering with another investor. I recently wrote a blog post about it and will be posting it here on my blog on the Bigger Pockets site later this evening or tomorrow. 

We try not to bend over backwards for every single request.  However, we do offer a military discount on our direct booking site.  I find that when I give in to certain requests like this up front, they ask for more later.  With that being said, if you really want the booking then feel free to do what feels good for you.  

I have analyzed rental arbitrage and the numbers didn't work out for me, that coupled with the negatives I decided to not move forward. The negatives for me were - possibility of having your entire business basically gone overnight since you have zero ownership and the lack of real estate tax benefits (no more depreciation). Although, in theory you could find some deals that work out. My CPA said making money and paying tax on it is better than not making money! I would look at one again if I couldn't buy my own STR, like if for some reason the numbers didn't work out. On Instagram, you may choose to follow TJ Tajani - he is heavily involved in arbitrage deals.

This is a tough one and heavily debated always!  Some say to snooze the listing on one platform to book on another, but then you'll tank in the algorithm (especially if it's Airbnb).  I am with the mindset that says let what happens happen.  Your property may do better on one or the other depending on the type of property and also the type of traveler.  Not the answer you are looking for, but makes the most sense honestly.  My properties typically book better on Airbnb, but I have a couple I manage for others that are performing really well on VRBO...its all a game!

 Hi John, no we modified the rental agreement template provided via Ownerrez our property management software.  

You might post this in the forum that addresses MTR rentals. We are very limited here in Tennessee with STR. 28 nights max but majority are 14 or less.

If it’s your first and you have capacity that might be fun for you! Here in the Smoky Mountains we set those up for our clients or refer it to professionals to do. Cost is all over the board depending on size and quality of furniture. There are various ways to do it, depends on what works for you. Maybe ask your agent if they know of a service in your area. 

I started having guests sign off platform when I started taking direct bookings and processing my own payments. Airbnb still process payments for those bookings but I feel like the wording in my contract is better. It also helps to ensure guests understand the rules since they are being put in front of their eyes again. As my business started to grow larger this was the next step to help with liability. 

What does your contract say with the property manager? It should indicate the action they need to take. I’ve heard that Airbnb allows multiple listings with the same address. Some folks book one property slightly differently, such as only renting half and then their second listing renting the whole property. With that being said, it is possible for you to go ahead and list it.