All Forum Posts by: Sarah Kensinger
Sarah Kensinger has started 6 posts and replied 2203 times.
Post: Why are you investing in STR as a new investor in real estate?
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Our reasons my seem to detail or deep compared to the others listed, but here are the reasons we started our co-hosting company....
~No longer trading time for money (once we hit our business goals).
~Our passion is traveling and seeing new places!
~Giving people what we experience when we travel.... time to relax and recharge in a hectic lifestyle.
~Add value to others.
~Challenge of the STR industry.... it's never boring!
~High cashflow.
Post: Creative Income Strategies
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Aaron Deja:
@Brooklyn McCarty @Michael Baum @Sarah Kensinger. Thank you all for your feedback! Yes, we are able to do short-term rentals in this market. Do any of you operate in Nashville and surrounding markets?
We are open to expending to the Nashville market but if you would prefer someone who is already there, I can get you a couple names.
Post: Rental Abritage in Orlando
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Melanie Hernandez:
@Sarah Kensinger for my first investment I won’t be purchasing the property. I will be subleasing. A condo 3B/2B at $2,200/Month. Fully furnished. 15 minutes from Disney.
Post: HELOC vs Refi to finance a STR?
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Adam Bartling:
Quote from @Sarah Kensinger:
I'm almost thinking you have to do a refi because banks won't give a HELOC on "investment" properties.
Are you needing a lender who can do a "HELOC" on investment properties? We have 2 wholesale lenders who can. Or at least did 2 months ago. It has been fun this past 2 years with rapid changes in products.
@john robart - HELOC it!!!
No, we already have a HELOC at our disposal. Good to know there are lenders who can possibly do investment properties though!
Post: AirBnb Management Liability/Insurance
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Yoon Chong:
Quote from @Sarah Kensinger:
Quote from @Jeffrey Reyes:
I'm not an expert but based on my personal knowledge. I would open a separate LLC or fill out some type of paperwork stating that you are working with Airbnb now. Your current LLC falls more into the Real Category while Airbnb deals more with Hospitality. Two different professions.
Also as a Host, you are protected in 3 different ways:
1. Airbnb $1 million host guarantee
2. Renter's Policy Insurance
3. Homeowner's Insurance ( Update your insurance; inform your insurance that you are doing Short Term Rentals.
The OP is not working for Airbnb but a homeowner who would like to list their property on the Airbnb listing website but wants someone else to do the work. Also be aware that you cannot count on Airbnb Cover, you have to jump through so many hoops to get your money for guest damages. Many times, they won't pay out for a variety of reasons. There shouldn't be renters' insurance, just STR homeowners' insurance and if you want protection for guest damages Safely, Waivo, etc.
I'm not the homeowner but potentially the co-host/property manager. Protection from Safely ir Waivo would be something that the homeowner purchases correct, not the property manager?
Post: Owner of Home
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Sounds like you have more of a larger and even a luxury home. Look up Dr. Rachel, she specializes in luxury MTR, and I have a feeling she has some info on her sites/social media that could help you out.
Post: Rental Abritage in Orlando
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Go do a deep dive into Michael and Elizabeth Chang, Robuilt, and other well-known people, who utilized the rental arbitrage strategy to build up cash to purchase their own properties. They offer so much valuable information! Unfortunately, unlike this form you'll find better information on rental arbitrage through their sites/social media.
Post: Melefante6 STR Course
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Trenton Thompson:
Hey Sarah,
Thanks for sharing your experience and insights. It's interesting to hear how Michael Elefante's content on Instagram inspired you to start your own short-term rental co-hosting company. It seems like he has a good grasp of the design aspect and highlights some valuable points.
You mentioned that you didn't take his course and eventually unfollowed him because you weren't keen on the videos about his earnings. That's understandable, as some people prefer a more down-to-earth approach rather than constant emphasis on income.
I appreciate your perspective on joining a course or mastermind. It's great to hear that you found a mentorship group that aligned with your business goals and personality. By any chance, could you share what group it is or if it's accepting new members? It's true that being part of a group like that can make a significant difference in your journey, offering guidance and assistance when needed.
Thank you again for sharing your experiences and providing valuable insights into the benefits of joining a mentorship group. I'll take your perspective into account as I continue to explore my options in the short-term rental industry.
Post: AirBnb Management Liability/Insurance
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Jeffrey Reyes:
I'm not an expert but based on my personal knowledge. I would open a separate LLC or fill out some type of paperwork stating that you are working with Airbnb now. Your current LLC falls more into the Real Category while Airbnb deals more with Hospitality. Two different professions.
Also as a Host, you are protected in 3 different ways:
1. Airbnb $1 million host guarantee
2. Renter's Policy Insurance
3. Homeowner's Insurance ( Update your insurance; inform your insurance that you are doing Short Term Rentals.
The OP is not working for Airbnb but a homeowner who would like to list their property on the Airbnb listing website but wants someone else to do the work. Also be aware that you cannot count on Airbnb Cover, you have to jump through so many hoops to get your money for guest damages. Many times, they won't pay out for a variety of reasons. There shouldn't be renters' insurance, just STR homeowners' insurance and if you want protection for guest damages Safely, Waivo, etc.
Post: MTR Property Management
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
We're just now getting into MTR so unfortunately we wouldn't meet what you're looking for. Right now, I don't know of anyone in your area but if I hear of someone, I'll pass the info to you.