All Forum Posts by: Patrick Osterling

Hey @Francesco Ponticelli - Did you ever get any clarity on this question? I'm wondering the same thing! Thanks!

@Jonathan St.Leger I was wondering that too. That free Rentalizer tool that came with the BP membership was super helpful. Let us know if you find out what happened to it or if it moved somewhere 

Hey Trey, I get where you're coming from, and I agree with some of the other comments here. Honestly, it really comes down to finding the right bank. Talking to just 3 banks might not be giving you the full picture. When I was looking for a HELOC on an investment property, I called 30 banks before I found one that would do it. I’m sure there’s a bank out there that’ll work with you... just keep at it!

Hey @Ben Cochran

Bill Faeth from Build Short Term Rental Wealth has discussed this concept, which he calls “Return on Equity.” He has some great YouTube videos that break down the equations, strategies and how to think about repositioning equity. This is especially important if you're on the younger side, as those returns can compound significantly over the next few decades.

I'm in a small real estate mastermind group, and we all did this exercise with our own portfolios and identified underperforming properties and equity to reposition, and presented it the group for feedback. This helped us strategically reposition and continue growing our portfolios.

Thanks, Michael! We’re currently talking with a few cleaners on Turno, but wanted to reach out to the BP community for any personal recommendations.

Hey Jeff, the cleaner we had lined up had an unexpected surgery and will be unavailable for a couple of months. We do have a handyman, but since the area is more remote and finding help can be tricky, I wanted to see if anyone local has good recommendations as we expand our team.

If you know of anyone, please let me know! Thanks!

Hi all, 

We just picked up a new client in Big Sky, Montana and we’re looking for recommendations. Does anyone know a reliable cleaner or cleaning team in the area? Also, any suggestions for a handyman who’s good with general maintenance and repairs? Thanks! 

Hey Andrew, I just spoke with Vintory yesterday about a potential inventory growth program. You mentioned not having a good ROI with them? Could you share a little more around which solution you were using (email, direct mail, retargeting etc.?). Also, I agree with organic growth, we get some inbound leads and referrals and have a high conversation rate closing them, and they've been great clients so far. Thanks!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $360,000
Cash invested: $96,000

Purchased my first investment property in summer 2017 while living in SF, a new construction home intended as a long-term buy-and-hold. Initially rented to long-term tenants, it generated modest cash flow of a few hundred dollars a month with a 4.25% rate. Refinanced in 2020 to 3%, boosting cash flow to $500/month. In 2021, after completing the BiggerPockets STR course and analyzing market data, we transitioned the property to a fully furnished premium short-term rental after the tenant moved out. It now cash flows ~$3,000/month with over 100 5-star reviews across Airbnb, VRBO, and Booking.com. Our guests have ranged from newly hired UNR football coaches relocating their families to individuals traveling for medical care, couples on ski leases for Mt. Rose, and beyond. Guests also include families visiting Reno, travelers relocating, weekend visitors, traveling workforces, and Tahoe adventurers. Reno's STR demand has been unexpectedly strong and rewarding.

Patrick, not sure if you meant this or not, and don't mean to be redundant, but you could create a video tour and just sent the prospective tenant the link. And, to your point, often times the property is already rented so a showing wouldn't be feasible. I think I've only had 2 or 3 people ever ask to see the property in person. Photos, video and reviews should be sufficient.