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All Forum Posts by: Sarah Kensinger

Sarah Kensinger has started 6 posts and replied 2203 times.

Post: Can You Airbnb/ STR Your Mortgaged Property?

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295

This shouldn't be a problem at all...people do "airbnb house hacking" all the time.

Post: Is kid/family focused room setup with bunk bed more important than space?

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295

If you're marketing to families, you could put a twin bunk in the room with a pull-out couch. Or if there's enough room even two sets of twin bunks. Lots of STR have bunk rooms and there are many options available that would be safe. Although I would change the light fixture if it's a ceiling fan. Think about who you want to stay in your property and tailor the entire place for that market. It makes deciding what to have at the property easier and draws in the niche you're looking for.

Post: STR in areas like Anna Maria Island (FL), etc with Higher price points

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295

I would run the numbers and analyze the property just like normal using Airdna projections. Then I would do some investigating on what the nightly rate is of other area properties that are higher end, and adjust my projections accordingly. Regardless of where the property falls in price, every property needs to be analyzed to make sure the numbers work and the COC return is worthwhile. If you would like some help analyzing a property, feel free to reach out!

Post: STR/second home Lending/lender?

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295

I've heard the Short-Term Mortgage Shop can help with that.

Post: Youngstown & Akron market

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295

@Preston Donahue Is a realtor and investor in the Canton/Akron markets and can help guide you to the good investment areas. I highly recommend you connect with him!

Post: Anyone ever successfully get an unreasonable AirBnB review removed?

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295
Quote from @Scott K.:
Quote from @Sarah Kensinger:
Quote from @Bruce Woodruff:
Quote from @Sarah Kensinger:

Is no smoking one of your rules and do you have proof they smoked in the cabin? If a guest breaks a house rule Airbnb is more likely to remove the review. Unfortunately, a case like this is bound to happen once or twice to every listing. As hosts we have to get smarter than the system by learning how Airbnb works. Before you decided to change OTAs check your area and see what the most popular OTA is, so your bookings aren't negatively affected.


 You're kind of an ABNB apologist, or so it sounds......?

I actually did think of just copying and pasting for both threads since they were right next to each other. No, it's adding value and since most people just come to just this forum for info, I try to bring some fresh ideas from other mediums I learn from. A while back I was listening to a guy tell his Airbnb nightmare story with a guest, and he gave some key points for what to do and why Airbnb does the things they do. He also had to call 4+ times to get results and since he knew Airbnb records every phone call, he could politely insist that the person helping him relisten to those calls. Also, he knew it's an absolute no no to take communicate off the platform and unto email or texting. Automatically Airbnb sides with the guest because the host has no proof of what was said. He did win his case and was refunded the money Airbnb took and gave back to the guest. I found his story very informative and thought maybe someone on here can use the info. It really is all about what you know!


 That is very incorrect. You can use any text messages as evidence when getting reviews removed. I've done it a few times when guests try to extort me. Just take a screenshot and send it. 

That's nice to know but it's something we don't want to risk. I've heard enough people say that OTAs don't trust forms of communication that are not from their platform.

Post: STR Evaluation & Market Trends

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295
Quote from @Doug Lee:
Quote from @Sarah Kensinger:

Honestly, I won't look at possible STR property or even take on a STR co-hosting client unless the property has a 20%+ COC return. So, I feel strongly that you could do better with another property somewhere else. The STR market is still very much there...it's strong, thriving, and not going anywhere. You just need to know your market, who your serving, and have an experience that guests go home never forgetting. Bookings are coming in more last minute...6-8 weeks before arrival... and it's something a lot of people in our mastermind are seeing. So that could be why you're seeing calendars more open, although summer bookings should be about filled up.

With this property you mentioned, I would be a little wary of all the homes laid out very similar and everyone having the same idea to run a STR. It's possible you could do well but it'll pretty competitive! I'm suspicious that you would benefit from having a larger home in the same area, especially since someone has a 3 possible 4 bed that is making $90k.


That's where I was hoping the numbers ended up. To clarify, 90k was gross revenue for their 3/2 unit. I actually called the realtor/investor this morning and shared my calculations with her. The numbers went slightly down because I wasn't aware of how airbnb calculated fees exactly. I was close but they dropped by a percent or two (now 10.77% COC year 2+ - only $9k annual cash flow). This person also mentioned that many bookings are last minute like you stated. She mentioned that 48k annual revenue was for the 75th percentile, so this seems reasonable, however that's only 162 days out of the year (44%). Still a ton of opportunity left.

Either way, I honestly can't see how the numbers work for many units in the surrounding area unless it's just a bonus to them to rent out.  Financially I feel like I can do better elsewhere in the market.  Hell 6 month CD's are paying 5-6% now.

I would agree that you could definitely do better! I actually know of several people that find 30% COC return on a STR property, but they are usually rehabs. But if your patient and look there's some good deals out there!

Post: Please help with analyzing this deal

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295
Quote from @Sriram Gonu:

Taxes $2,115 subject to change

Good point on the cleaning fee

Self Manage -- have about 11 STRs now

From the rough numbers you have here it looks pretty tight to me, even though you won't need to pay a PM anything.

Post: Anyone ever successfully get an unreasonable AirBnB review removed?

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295
Quote from @Bruce Woodruff:
Quote from @Sarah Kensinger:

Is no smoking one of your rules and do you have proof they smoked in the cabin? If a guest breaks a house rule Airbnb is more likely to remove the review. Unfortunately, a case like this is bound to happen once or twice to every listing. As hosts we have to get smarter than the system by learning how Airbnb works. Before you decided to change OTAs check your area and see what the most popular OTA is, so your bookings aren't negatively affected.


 You're kind of an ABNB apologist, or so it sounds......?

I actually did think of just copying and pasting for both threads since they were right next to each other. No, it's adding value and since most people just come to just this forum for info, I try to bring some fresh ideas from other mediums I learn from. A while back I was listening to a guy tell his Airbnb nightmare story with a guest, and he gave some key points for what to do and why Airbnb does the things they do. He also had to call 4+ times to get results and since he knew Airbnb records every phone call, he could politely insist that the person helping him relisten to those calls. Also, he knew it's an absolute no no to take communicate off the platform and unto email or texting. Automatically Airbnb sides with the guest because the host has no proof of what was said. He did win his case and was refunded the money Airbnb took and gave back to the guest. I found his story very informative and thought maybe someone on here can use the info. It really is all about what you know!

Post: Airbnb RV Rental

Sarah Kensinger
Posted
  • Real Estate Consultant
  • Ohio
  • Posts 2,235
  • Votes 1,295
Quote from @Kelly Knighton:

Something to keep in mind - Not all RV parks will allow sub-leasing. The units have to be owner occupied.  Also, some RV parks have a 10-year rule which means the RV has to be 10 years or newer to be able to rent a RV site. I'm not sure how old the one you are considering renting. RVShare and Outdoorsy is RV rental sites which can give you an approximate idea of what you may be able to rent the unit for.

Thanks, but we had clearance from the RV park before I even thought of finding out more info on this forum.