All Forum Posts by: Sarah Kensinger

Lately I have been running numbers on properties similar to what you're looking out. Unless there is a way to add value to the property and double it's worth, I would say it's something to walk away from. The numbers would be to tight and not worth it.

Unless you're using Airdna for your projected revenue you don't need cleaning fees. And when you do add them in, I would highly suggest checking out the OTA and see what the comparable fee is in the location you would be possibly purchasing a STR.

To be honest it's next to impossible to find nicely cash-flowing properties right now, you have to do lots of looking and have patience. I have found that the higher the purchase price the harder it can be to cash-flow, but of course that is not across the board, just general. And it all depends on the amount of cash-flow an investor is looking for.

We use an analyzer to underwrite a property using projections from Airdna (subscription model), with all the expenses you already have written out. 

I hope that helps, feel free to DM if you have any questions on underwriting a property.  

Unfortunately, that is the life of a cleaner, some days it's easy work and others is downright awful! Try communicating with the cleaners about your expectations and the fact that you don't pay less when the property is really clean after a stay. If they're pretty set on charging more for dirty guests, I would get another cleaner. 

You might have more interest for this property if you moved it to the classified forum....

The best way is to call the city and get someone on the phone. This may take several phone calls and getting transferred to many people, but someone should know the answer.

I've heard Charlotte is a wonderful area for MTR! Do some checking around on furnish finder and see if you can find some people locally that are doing MTR. And of course if the property is open, you could also offer it STR depending on if you have a large event going on in the area.

It's definitely important to analyze a property correctly to make sure you'll cover expenses and make a profit. Airdna is a great resource and Tony Robinson created a STR analyzer with a video to show how to underwrite a property. Here is the link....STR Deal Analyzer How-To

If you have any questions or need any more help, feel free to reach out!

I think you pretty much have the idea, although with STR you would look at the occupancy over the vacancy rate. Besides the usual utilities, don't forget you would need to purchase supplies for the property as well.

@christopher price is in Seattle and he may be able to help you navigate some of the STR info you'll need of the area.

I'm just 1.5 hours from Cleveland but we haven't done much in that area. It's rather seasonal which is why we have been hesitant to get into that market, but I know several have done very well! The best way to get into arbitrage it to start making phone calls to landlords, but make sure you have "your ducks in a row" and you're ready to answer any and all questions. It could be a great way to get into STR since for the most part the numbers just flat don't work purchasing a property, unless you can get seller's financing. If you haven't checked out Michael and Elizabeth Chang they would be a great resource, among a couple others who are very successful at rental arbitrage which enabled them to purchase they own properties.