All Forum Posts by: Sarah Kensinger

We haven't really had any problems managing a property, unless you count cleaner issues, etc. as part of it. 

Does the partner flat want to sell, or just doesn't want to mess with a STR?

Unless you wanted a dated grandma STR that nobody wants to rent, I would get furniture from Wayfair that is cohesive. Kitchen and decor items are great from HomeGoods, Ikea, and Tj Maxx. Lastly many people have found certain linens off amazon to work great, but I think just about every host uses a different brand.

For bedbugs we use a mattress protector that guards against them and some hosts even use a pillow protector for bedbugs. If you enjoy podcasts, Thanks for Visting did an episode on bedbugs a while back you may enjoy listening too. 

As for your other questions hopefully, others can give some great advice. I would definitely be up front with all guests and your tenant about the other home on the property and its happenings. It would also look better to guests, if your tenant keeps their side kept up nice. 

Finding a team that is willing to work and fulfil our expectations. Seems like everyone only does a half job and the good ones are too busy!

If you haven't asked your question in the mid-term rental forum, I would do so! Some great people there can help answer your question.

If you're comparing all markets to just one, especially Orlando right now, it's no wonder you don't think STR are a good idea. Making a decent profit has everything to do with the right market...each and every one is different in guest avatar, ADR, and yearly revenue...the property itself, and the host and how knowledgeable they are on the STR industry right now because that is also an ever-changing landscape!

I also heard you can by two second homes with the 10% down loan in the same area, so long as the homes are different in some way. Like one is waterfront, the other is not. One is in the country, one is in town, etc. 

The LLC must be in the state the property is located in for the owner to receive the benefits of an LLC. Otherwise, since you're not doing actual business in the state the LLC is based out of, the entity can disregard. For full asset protection a WY or DE LLC can hold the state LLC, so your info is not open to the public. But in some states like FL and TN it's better to have a land trust due to tax reasons. So, all in all talking to a knowledgeable real estate attorney for a specific situation is the best idea!