All Forum Posts by: Nathan M kiefer

@Nathan M kiefer, if you're willing to share, then I will gladly accept. I can send you my email.

Is anyone willing to share a copy of their STR Rental agreement? We're pretty new to the space and have our first potential client.

Please review my listing!

We rent a four-bedroom house in Harwich, MA, as an STR. The house is on Cape Cod, a beach community that is wildly popular in July/August. We are always fully booked for around $600 per night in July/August.

The problem is:  We need more bookings in the spring and fall when demand is lower. I'm open to changing the listing, updating our pricing, adding amenities, or anything else that would lead to more spring and fall bookings.

We allow pets, so that's been a big draw for this house. The house isn't exactly walkable to the beach. When I walk to the beach, it's about a mile away. However, there are restaurants, bars, family activities (mini-golf, go-carts, etc.), and a wonderful supermarket that is close by and walkable (2-3 blocks away).

The reviews are excellent, and we are currently superhosts. We expect to lose superhost status in April because we had to cancel a booking (my mistake).

Thank you in advance for your feedback on my listing...

https://www.airbnb.com/rooms/614622614795146757

https://www.vrbo.com/2796499

Also, the VRBO/AirBnB ranking stats are concerning. I think conversion is low because most people are looking for a weekend stay in July/August, but we have a 7-night minimum stay in July/August, so they bounce off our listing page (just a guess). We get 1 or 2 inquiries per day for weekend stays in July/August that we can't accommodate.

- Dale

Looking at an offer for Affordable housing portfolio, offering 10% dividends and 65% profit splits.

Has anyone worked with Simm Capital group and had any success?

Thank you Paul

For those interested, I'll connect with you individually in the next couple of weeks. 

That is one of my biggest issues for sure. There was a time in which I was looking for something we could pay cash for. Won't work for this one due to looking (slightly) outside of my original price range and the amount of upfront work needed. My husband was thinking we could take the mortgage interest deduction (since we don't have a mortgage on our primary residence), but now you have me wanting to run the numbers with 75% or more down. 

First I do want to say that I really appreciate everyone sharing their experiences and the wealth of knowledge I have found here. Of course, it's just added to my analysis paralysis! 

How did you get over that and pull the trigger - or know that it's best to walk away? Is there any advice you'd give me on our particular situation:

Husband and I are 50-something "millionaire next door" types with no debts and significant savings. As my husband gets closer to retirement, his dream of owning a cabin in the woods gets stronger. We've enjoyed checking out different areas within ~2.5 hours from our home on the outskirts of Cincinnati and recently saw something near the Red River Gorge that I really like and can see myself going to frequently. It is priced a bit higher than what I wanted but would really lend itself to a more upscale couples retreat with some improvements. While I would rent it out as much as possible, husband would want us to block out 2-5 days/month there. 

We're both struggling with crunching the numbers. We would need to hire a management company (found one we like, they take 30% but allow owners up to 60 days/year occupancy). In addition to furnishings, t will need work (such as new countertops) to meet my vision for upscale couples retreat. We go back and forth on how much we would put down and how much to set aside to get it up and running as a STR as quickly as possible. That leads to going back and forth on whether it's worth it given the upfront investment and the data we're finding on occupancy rates, cash flow, etc. vary from losing $5K/year to making over $10K/year. Very frustrating.

(Also assuming we wouldn't do an LLC to purchase since it wouldn't fully be a business. I own my own business/LLC and am open to changing that structure for tax purposes, such as putting it under an S- or C-Corp if it would help with this situation.)

I appreciate any and all thoughts on this matter as I can't seem to get out of my own head on this!

Selling my Southwest Michigan rental portfolio of 12 properties (21 units) located in the Kalamazoo/Battle Creek and surrounding areas. Monthly gross rents are currently $20k. Price is 2.2M.

We have 3 rentals, and Turbotax says we made about $27k off the 3 combined last year, so I ended up having to pay the IRS $8k. Currently the tenants pay us directly to our bank accounts. 

Would we owe less if we set up an LLC (s corp?) and had the renters pay the LLC? Open to any ideas.

We live in Texas but all the rentals are in Washington state, if that matters.