All Forum Posts by: Richard Davis

I'm trying to get started asap with rental arbitrage in the area around Atlanta, GA. I've found some great properties, and I'm interested in partnering with a manager on them. The manager doesn't have to be in Atlanta personally, as I know some STR managers work remotely. If you yourself would be interested or have had a good experience with an STR manager in the past -- or have any recommendations -- I'd be grateful for the lead!

@Account Closed

That’s encouraging. Did you do anything in particular to help guests navigate the restroom issues?

I had thought of putting something at the very top of my listing like:

“There only TWO bathrooms for six bedrooms in this home. In timing your bath or shower, please be considerate of other guests’ needs.”

I even wondered if posting a sign-up sheet with reservable 20 minute blocks by the door of each restroom might be worth doing.

@Account Closed

That’s encouraging. I stayed in a 4/1 AirBnb myself and had no trouble at all.

Rentalizer is a free-ish tool on AirDna.co which predicts the short-term rental income that could be a received from a given property. I think it works by analyzing the historical incomes foe other short term rentals (gleaned from AirBnb and VRbo) in that same area.

Thank you, @John Underwood, @Paul Sandhu, @Michael Baum, @Erik J Courson, @Scott K.,  @Glenna Wood, and @Sebastian Giraldo.

How many bathrooms do you think are optimal for a given number of bedrooms in an STR intended to be advertised primarily through VRBO and AirBnb? I recently spoke to a STR manager who cautioned me against a 6/2, saying that having just two bedrooms for 12 guests would lead to bad reviews and plumbing problems. But Rentalizer seems to PREFER 6/2's over 6/4's in some cases. I've seen Rentalizer's revenue prediction for the same property jump from $101k to $181k when I changed the data from 6/4 to 6/2 (yes, HIGHER revenue for fewer bathrooms).

Puzzled! Perplexed! Flummoxed! Do renters not like bathrooms?

Atlanta has some new laws that require any STR host to apply for a "short term rental license." Does anyone know HOW to apply for this license or whether this can already be done?

I have seen news articles saying the new law will be 'implemented' in March 1st, 2022. That's a little ways off. But if the law is already on the books, I'd rather go ahead and become fully compliant now, as soon as I start my first STR in Atlanta.

@Reagen Natho Thank you!

@Reagen Natho How does one navigate to the forum you mentioned (Short term rentals under real estate strategies) here on BP?

This is the least helpful discussion I have ever read on BP. XD

Can I buy a property (Property 1) with cash, refinance it the next day through the Fannie Mae delayed finance exception, turn around on day three and buy another property (Property 2) with the cash I get out through this refinance, and then - on day four - refinance Property 2 with the Fannie Mae delayed finance exception as well?

My question is about whether I can tap the delayed finance exception twice in sequence.

I'm wondering if this approach is forbidden by the following clause from this description in the chart titled "Delayed FInance Exception":

"The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property."

Does a refinance loan through the Fannie Mae delayed finance option count as mortgage financing? If so, then my read is that no, you cannot double-dip with this program. They won't refinance #2 purchased with money obtained from refinancing property #1.

Thanks for considering.