All Forum Posts by: Ryan Moyer
Ryan Moyer has started 11 posts and replied 904 times.
Post: STR Stylist looking for feedback and to connect with STR investors

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
There's a certification for this?
Post: Should an LLC or owners name be listed on a short-term lease contract?

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
I am the furthest thing from a lawyer, so this is a total guess, but if the home is under your personal name I don't think the LLC is really going to do much of anything to protect you anyway, so I don't think it really matters which you put on the rental agreement.
Post: STR analysis - Mammoth Lakes

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
FWIW I've been to Mammoth on a Fly fishing trip so there's another warm season activity. Definitely still a great summer destination too there.
We were actually there mid-May and people were still skiing. So I guess that's one benefit, that the shoulder season is a little shorter there as most ski areas are dead Mid-April through May.
Like others have said though, the numbers have to work and those don't look great. I agree with @Michael Baum that I wouldn't count on a noteworthy rate decrease any time soon. The fed knows they screwed up badly by caving to pressure and quitting rate increases too quickly in 2018 and they're not going to make that mistake again. If anything I expect them to overcorrect to the opposite and keep rates much higher and much longer than people are anticipating. Barring a total economic collapse, of course.
Post: Are Gatlinburg, TN current prices already spelling negative cashflows for New buyers?

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Quote from @Amit Sharma:
Quote from @Avery Carl:
Paying a PM 20% will almost always put your cash flow in the negative. There is a time and place for property management in this asset class but if you're in scale mode, the time for the PM is not now. Your projections for a 2 bedroom are also pretty low. I have a studio that grossed quite a bit more than that last year. A smaller property like this will also have more like 80% occupancy. 63% is very low for the size and area.
It's unlikely you'd need to spend 50k to get up and running. Especially if the property comes furnished. You may just need to make a few small replacements and get your linens and a few other things.
On an investment property under the jumbo limit why not do a 15% down investment loan? A lot of people don't realize that the minimum down payment for a SFR investment is 15% and not 20%.
Thank you @Avery Carl. That helps alleviate the cash down pressure quite a bit.
If I am not going to be staying near the property then I guess go for a smaller property management setup instead of a full incorporated company?
Will the cleaning fee be included in the payment to the prop mgmt company whether medium or large entity? (say roughy at 15% for Medium and 20% for large?). Looks like for me there is no way to self manage, so I am prepping for that hit on my cashflow.
Would you advise to go the route of buy land and build? Does that have a tax advantage? Haven't come across that in my research ( which includes your wonderful videos).
Thank you in advance. Looking forward to the group zoom call with STS.
Almost everyone here self-manages and almost none of us live local to the properties. My closest property is a 5 hours drive away. My furthest a 5 hour flight.
If you use one of Avery/Luke's realtors they will teach you how to self manage remotely for free.
Post: Townhomes in Kissimmee near Disney - thoughts?

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Disney rentals are about two things.
1) Theming
2) Proximity to Disney
You'd better have one of those two things, or you're going to struggle and have to jump into the great lowball pricing wars of 2022-2023. With proper theming, or a great location you can still do well. It's hard to stand out location wise since STRs are limited to certain areas, but my main point is I wouldn't buy in one of the further out communities without theming.
Obviously it's all speculative, but my guess is appreciation is pretty maxed out in the near future. We saw a huge increase with the post-covid travel rush and honestly probably still have further to fall before everything balances back out, and they build more of these places as fast as they can throw some sticks together.
Post: Build to flip cabin in gatlinburg

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Quote from @Todd Goedeke:
@Mack Lengel no investor in their right minds would buy a cabin at $500/ sq ft. There is no way of making money , or very low ConC return ,as a STVR at that price.
People are doing it every day.
Post: Expensive cleaners!! is there such a thing?

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
I would say two things.
1) Overpaying for good cleaners is worth it if they're good, even if you have to charge a higher cleaning fee.
2) That price doesn't seem like overpaying in the current market. I think that's a reasonable market rate.
Post: My experience with Vacasa - Buyout scenario

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Quote from @Collin Hays:
I own what I would term a "boutique" PM, meaning that for most, it isn't the right fit. Yet I get solicitation letters from VACASA a couple of times per year wanting to purchase us. I've never responded, but I've always thought "I would never subject my homeowner clients to that."
How many properties do you manage?
Post: My experience with Vacasa - Buyout scenario

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Quote from @Drew Sygit:
@Sean Wilson sounds like MANY businesses trying to scale!
They spend too many resources for growth and not enough on systems and process:(
Nailed it.
They spend their money to hire salesmen and on marketing to market their company to potential future clients, not on people to actually manage the properties they have or advertising their client's properties to prospective guests.
Post: LGBTQ the platform Mister BNB feedback?

- Property Manager
- Orlando Kissimmee, Davenport
- Posts 919
- Votes 1,333
Quote from @Richard F.:
I would just consider if this could lead to a Fair Housing issue. Remember, it is not your intent that matters, it is about the perception of your intent by potential applicants. I am not familiar with the site you mention...
I'm not a lawyer and I could totally be wrong, but I don't believe STRs (rentals with an average of less than 7 days per guest) are subject to fair housing laws.
I believe that's why STR FB ads are allowed to target based on demographics while FB typically restricts demographic targeting of housing ads for long term rentals.