All Forum Posts by: Shannon Green

@Christian Ehlers, thank you so much.  This is some of the information I've been wanting to know.  Guesty is definitely something I will look at.  I know I need something that will tie VRBO and Airbnb together.  This is great. Where my house is in South Padre Island, they require a "manager" so I've already hired a local woman for a small fee who manages 6 other properties and she has the cleaning crew already.  She and her family handle the walk through after each clean to change light bulbs, tighten a hinge here and there, etc.  The big stuff is handled by  professionals and I've got a list of everyone just from being so involved when it comes to major stuff.  Thank goodness.  She and I will work together when something bigger comes up to line up the right people. It's the booking, marketing, and pricing that I don't know anything about.  I have records of what price the past guests paid, but the information you've given me is quite helpful.  Thank you so much!

I appreciate the feedback. Gathering as much information as I can.  

I've had an STR beach home for almost 3 years now. The rents have been great. A management company has been doing everything for me, and they are charging 30% !!! I've been able to learn a lot by how they do things and because property taxes have gone up drastically, I need to start managing myself, but am considering using a platform like Evolve or any others that only take 10%, but help with marketing and bookings on multiple sites.

I'm looking for any guidance on who/what platforms people might be using out there and what they might recommend?

@Jeff Chisum Congratulations! My goal is to have 5 STR, 5 LTR and then see what happens from there. A little at a time! It will take me a while to get to this goal! LOL!

@Jeff Chisum

Dang!  You know your stuff!  I closed on the house in the beginning of March and have my first rental this weekend!  So exciting!  And, I already have bookings after it went on the market last Tuesday!  More than 50 days booked through February next year....in one week!

@Corwin Lyvers great information! I really appreciate it! One question: Is there a difference between a second home mortgage and a vacation home mortgage? Is there actually such thing as a vacation home mortgage? 

@Reagen Nathothanks for the information! My goal is to own three within the next five years. I will definitely look into the location you speak of while doing my research! Thanks so much for the tip!

@Luke Carl i’m so glad I found this group and the podcast! So much to learn and I definitely appreciate it!

@Marc RiceThanks for the tip! I will discuss with my lender tomorrow any restrictions regarding short term rentals.

@Kenneth Garrett the way you stated it is what I understand as well. Thank you @Kenneth Garrett and @John Underwood.  

I was also told by another investor that I could finance as a second home and then put it in the Llc I’ve created subsequent to close. Then I can open a bank account for this specific property to keep things organized. I’m going to do more research on all of this so I have a better understanding as I am completely green and new!

This will be my first investment property. It will be a short term rental property. When it comes to financing, is it best to finance this first deal as a second home/vacation home? Only 10% down payment necessary. Or, should I be in financing another way? Any advice is appreciated. I am a newbie!