All Forum Posts by: Luke Carl

I as always agree with @John Underwood

This says Sevierville, TN has 5,279 active listings. It's closer to double that. Airdna is top dog STR scraper if you're a numbers junkie though. It has its purpose.

I wouldn’t touch this property. You’ll end up losing money every month unless you pay cash. But why would you pay cash on this thing when you could finance 20 $100k properties. 

Let’s say each of those properties cash flows $500 per month which really isn’t all that hard to find. That’s 10k per month passive cash flow after the mortgages are paid. 

Stay away from Nashville it tapped out 7 years ago. 

@John Underwood nailed it. All single family homes are subject to appraisal and income does not effect appraisal. 

This would only pertain to multi-family with a cap rate. Short term renting multi-family is the same as owning a hotel and you'll likely get shut down sooner than later. We may see this model grow in the future but we're not there. 

Hello! Automating your cleaning crew is greatly dependent on your cleaning crew. There are several ways to handle this.... 

turnoverbnb.com first property free. 

Cut and Paste your Airbnb URL and VRBO URL directly to your cleaner. This is the easiest way to do it if they're savvy enough to know how to work ical. 

Channel managers (igms, smartbnb, etc) generally have links for your cleaners. I don't use the cleaner function on mine (igms) because it provides my cleaners with the guests names and phone numbers and that's just a bad day waiting to happen. 

If your cleaner is totally behind the times and doesn't have internet, you can screen shot them the calendars every couple of days but this leaves room for error. 

When interviewing cleaners ask how they prefer to handle the calendar. Maybe also ask if they're open to adapting to your system. Nothing wrong with evolving as you get bigger and grow! 

Thanks! 

Depends on if it looks like it needs paint. If you get flat paint there will be more blemishes but you can do touch ups. 

Hey! Congrats! 

I didn’t read the whole thing because TLDR but I would never ask a tenant to do any maintenance on my units even if they’re the best handyman in town. 

It gives them too much control, next thing you know they’re asking for discounts on rent or “hey I fixed my kitchen sink can I be a few days late.” 

No thanks. 

@Theresa Harris is right on. Most of my stuff is low income and they all take advantage of the grace period in the lease which in my case is the 5th. With low income I know if they don’t pay by the 5th I’ve got a problem because they can’t afford the late fee. The $1500-2000 tenants on the other hand pay early every month.

Why pay your PM if you’re going to do work? Either let them do it or do it yourself. You’re micro managing your manager. Stop that. 

I’ve got 16 doors in 3 different markets - all self managed, a family, a day job, and I’ve run 24 full marathons. 

STR is much easier from a distance if you choose a vacation heavy market. It's nice to have one of your employees inside the property 2-3 times a week.

@Sheila Bee lots of moving parts here. First of all... toilets don’t leak because the shower is on so there’s a red flag. 

Why are you so involved if you’re using a PM? Why not call 1-800-Local-Plumber and get the job done yourself you’ll have better luck. 

Nope. Buy now! If you’re that worried about it you can do a 6 month lease and then a 1 year