All Forum Posts by: Marc Rice

@Becky Haag

Yes it can work in most markets but there's strategies that work and some that don't. Smaller units tend to work better in higher volume travel cities where larger houses do well in vacation destinations. Overall there's a STR opportunity in any market I believe.

@Karene Burnett

Airdna is good to run comps on but I’ve found it under estimated results. Looking at similar properties is a great way to see performance also to compare vacancies.

There's several YouTube sources on how to estimate monthly costs as well from Airbnb Automated and STR University.

@Kenneth Freire

If you’re a studio or 1bd I recommend it, if it’s a 2bd it could beat market rent. If you’re in a vacation destination the bigger houses can also do well.

@Andrew McElroy

Any market that you know and have a core 4 of agent, property manager, contractor, and lender. I recommend the Midwest and Columbus, Oh greatly.

@Bethany Petrova

I usually recommend doing smaller studio - 1bd units but were seeing success with 2bds too. The bigger you get the higher the cleaning budget, higher risk of parties, and bigger upfront cost.

@Argi Avetisyan

You may want to get a bridge loan or hard money loan for the remained $200k. You’ll also want to see if the owner is ok with taking 2nd position lien. It would be tough to get a second lender to come in at 2nd position for that size. Just call a bunch of lenders and keep persistent!

@Dan Amaro

Nice! Columbus growth has caused a lot of growth throughout Ohio. Rising tide lifts all boats!

@Lauren Hay-Lavitt

Check out Columbus, Ohio! It’s a great market here with lots of appreciation and cash flow. Turnkey singles start around $80-100k where turnkey doubles around $120-150k.

@Michael Temple

Very creative, I’m guessing if there’s a vacancy he’s responsible for that master lease payment still. I’d imagine it would be hard to really scale this dealing with so many individuals and houses, I could see it being more efficient with an apartment.

@Jack Morey

I’d recommend find a local agent who also owns rentals there to get a good footing. There are many bad spots but definitely some up and coming areas as well. West side has seen the most growth.