All Forum Posts by: Sarah Kensinger

Definitely reach out to a real estate attorney or sign up for a course that can teach you how to rental arbitrage. They usually provide legal addendums or contracts for the students.

I know of some up in the Galveston, TX area, but I'm not sure if they would go down to your area. If you're interested DM me and I can pass that info along.

There's many STR hosts in the NE! The people I know don't use BP that much. It can be a challenge with STR regulations, but people can do very well in that area if they're willing to give it a try!

Your rental arbitrage is pretty well right on, although I'd expect to furnish a property for around $15,000-$18,000. Particularly if it's a 2/2.... more bedrooms that number would go up. If you feel like arbitrage is a strategy that can help you get a leg up into the real estate world, it can definitely do that if you utilize it correctly!

If the condo is really only 336 Sq feet, I'm wondering if it would rent well as a STR. A tiny house is one thing, but a condo is another.

I posted the following on another thread a couple weeks ago.....

If the property is on VRBO you MAY be able to move over reviews, I don't think you can on Airbnb. I have not done this before but several people in our STR mastermind have successfully moved reviews over to a new listing. Some people have not had this work, so it all depends. The old listing has to be disabled and you can't pick and choose which reviews, so pretty much what changes over you have to be ok with them. I believe you would need to call in to customer service and have someone move the reviews over, sometimes you have to call more than once.

I'll throw this out there...since you are the new owner and the property/STR has changed hands, it might be better to just start from scratch. You'll probably do things differently than the previous owner/PM, which is more the fine! But the reviews should be an accurate representation of the property now.

As for tools make sure you have pricing software and automate as much as possible! 

The booking habits of vacationers has changed a bit this year and its mainly last-minute bookings that are only 4-6 weeks out. The Orlando/Davenport area seems to be majorly slowing down this summer, but people have found that if they change their listings a bit and some of their polices it seems to be helping. 

If you can I would definitely try to get one of the 1100 STR permits available in the San Deigo area. Your listing would make a great STR so long as it's in the right area! You should be able to do STR or MTR for your property. Aso don't forgot to call hospital HR in the area, connecting with insurance companies that need to place clients in temp housing, and of course make a listing on Furnish Finder.

I don't know anyone that uses Mashvisor and from the sounds of it I think the numbers are off. If you're interested in rental arbitrage, I would highly suggest learning from someone who knows how to work the numbers correctly and the best way to do that strategy. Check out Michael and Elizabeth Chang

The second comment this morning about needing experience for a DSCR loan, I've actually never heard of that before. Here are two options that should be of use to you....Host Financial and The Lender.

I would love to see this come together! Unfortunately, I don't really have any advice except to network network, network! Grow your circle of people that you can build relationships with and possibly work together in the future.