All Forum Posts by: Ryan Foster

@Lyndon C. I am managing myself and have also started to look for Co-host opportunities. for other owners. As a Co-host I manage the listing, pricing and guest experience for 20% of fees. The listing goes under my Superhost account with higher ranking. Benefits to the owner.

IMO, this would be the best way to do STR out of state.

@Mike Jornlin I self manage using airbnb and vrbo in AZ. I have learned a lot over the last 5 years about how to STR. Adding another of my own properties in June, but also branching out into co-hosting other's properties to help owners who don't want to manage. It can be very profitable if done right.

@Lyndon C. I did check with my lender.  Going from 20 to 25% DP is significant to the rate (.5 to 1).  I'd rather not inject that much cash.  I'll sit on it and if need to refi later I can.    Are you doing STRs with those homes here in Phx?

@Adrian Reyes I have had good success with the Nest thermostats.  You can get alerts on your phone at certain temp changes and also completely lockout the end-user by setting a PIN.  

https://nest.com/support/article/How-can-I-lock-Nest-so-that-it-can-only-be-adjusted-within-a-certain-temperature-range

@Luke Carl  Thanks for the clarification.  I will ask about the 15%.

Agree on the second home.  With an investment (which I am paying higher interest for) I would think I can do whatever type of lease I want.

@Luke Carl  Yes thank you.  I am putting 20% into this one now.  Looking for a way to make lower cost entry into more homes but for now it will have to be conventional.

@Ken Latchers Thank you.  I did look it up - https://therealdeal.com/2019/04/19/fannie-mae-issues-ruling-on-renting-newly-purchased-second-homes-on-airbnb/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+trdnews_miami+%28The+Real+Deal+South+Florida+-+Latest+News%29#new_tab/

Thank you for this Jon!

Thank you everyone for your feedback.  I have been reading through many of the forum posts here.  The BP forum resource is by far the best I have found.  So thank you again for sharing.    

I am moving forward with a conventional 30y fixed at 5.85% with 20% down.  Set to close on June 28th.  Will need to furnish and get the unit online.  First renter booked for July 11th.

In addition, to a up a book of properties, I am starting to solicit for Co-hosting opportunities with other STR owners. The way I understand it, in Arizona at least, you can co-host other STR properties (under 30 days) without a Broker's license.

I am already a verified superhost and I will split 20/80 with the owner to do the management.

Has anyone else done this?  Thoughts?

@Jeff Cantrell Yes you need 1 prime account for each STR. ($119/year)

With Highspeed internet at $50/mo - cost of device @ $229 - puts me at $80/mo for media services for 1st year then to $60 in the following years.  Much cheaper than cable and better options - IMO.

Yes. The device only allows the user to watch/record LOCAL TV stations in the area.  

Nothing to do with cable or other streaming - they can watch that stuff on demand anyway.

True- you can only watch local channels 2 TVs simultaneously. However, I have never gotten a complaint from a guest. Seems it is rare. And I have one STR with 5 TVs.

I used to do 1 antenna per TV and switched without issue.  Much easier to manage with one antenna to place in the house.  I also have remote management ability to it from my phone.

I do internet only ($50/mo) and provide Amazon Prime Services (Fire sticks on each TV).   For local channels and multiple TVs in the house check this out.  It has worked brilliantly as you only need 1 HD antenna and it gives all the TVs the ability to access local channels with DVR!   Tenants love it!

https://www.amazon.com/Fire-TV-Recast-over-the-air-DVR-500GB-75-hours/dp/B01J6A6H74