All Forum Posts by: Melissa Lee

thanks @Josh Mitchell. Yeah, I decided to finance the fees. Its still cash flow positive and since its a refi can only claim them over the life of the loan ;)

Should I finance $16k of fees or just pay it?... It only adds about $200/ month to my P&I, but I could just pay it. Thoughts? 

thats a bummer! I just lost out on a lot because of the same reason. #shady best of luck on your next endevour 

My HOA is looking to take out a loan to do upgrades to the a building in SF. It wont be a huge loan, like $100k or so. I've called my broker I worked with and he's iffy on who would lend on this. Thoughts?

Thanks Everyone!  

It was a short term rental, i.e airbnb. I am no loner short term renting. 

You can A) hire a company to manage everything. From booking, greeting/ letting people in, arranging cleaning, maintenance, etc. They will even book chefs or yoga instructors if needed. They take 20% of the booking. You make sure that your day rate covers the 20% and tack on a cleaning fee. They also manage across sites; airbnb, vrbo, homeaway etc. Or B) you can use a co-host as stated above, which I believe is strictly airbnb (dont quote me on that). It all pretty much shakes out the same in terms of cost...  

I prefer management companies because its a one stop shop. They not only handle the bookings and ins and outs of the daily rental, but booking extra amenities, as well as handling the maintenance of the place. Whether an emergency plumber is needed or noticing that a window is cracked, they take the initiative to fix it. The company I worked with in HI would also give me a heads up if something would probably need to be or should be replaced in the next few months, which was nice. You can set a monetary limit as to which things they can just go ahead and repair and anything over they need your approval on before moving forward.

Im not sure what co-hosts do other than handle the process of a booking and emergancies. I looked them up a while back, but didn't go that way. 

You can always call management companies and ask what they take care of and what they charge. And everything is negotiable. 

Hope that helps.

Management company charges 15%- 20%, depending on what they take care of (booking, arranging entry, arranging cleaning/ linens, etc). I add it into fees... 

pm me info

@Account Closed i would if i remembered the name 🤷🏻♀️ ... it was a block away from the beach, closer to kapiolani park. 

a management company takes the same percentage as a co-host so why would it make the margins better? 

Side note: Oahu is coming down on VRs so I'd look for options that are zoned correctly. I was looking at one in Waikiki that had proper zoning, which is rare. It didn't work out for me, but if you'd like I can PM you my agents info. She also has a property management company that can help manage if you need.