All Forum Posts by: Sarah Kensinger
Sarah Kensinger has started 6 posts and replied 2203 times.
Post: Turning primary residence to short term rental - Military move abroad
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Definitely find a CPA that knows and does STR properties! Not all CPA know the tax benefits you can receive.
Post: start or buy a STR management company
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Exactly what @Andrew Steffens said. And if you start one be ready to hang in there through the long-haul. It's not exactly easy to start any business and someone should be in the right mindset before they do!
Post: Ocean City STR investor
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Quote from @Bob Lett:
Quote from @Sarah Kensinger:
Quote from @Heather Carrow:
@Lauren Kormylo How is the market in Rehoboth for STR's? I have one in Bethany and the off-season is so tough compared to Ocean City. Ocean City does so much to drive tourism year-round and I have found that Bethany does not do this as much. Summer is great in both markets though!
@Sarah Kensingerundefined I like this idea. Would you be willing to share a bit about how you found hosts to allow you to co-host for them?
@Michael Baum I do have equity built up due to appreciation so that Is an option. & I did a DSCR for 2 of my properties in the past. I enjoyed the process, but rates are very high right now.
@Robin Simon one is a second home loan with a great rate and the other is a hard money DSCR loan also with a great 30 year fixed rate (thanks to the covid rates).
@Account Closed agreed it is a scary time. I am seeing listings sit longer in this market and competition is lower. I think that if you can get a deal that makes sense and then refi down the Road when rates lower it could put you in a good position when everyone else wants to start buying again.
Your opinion on refinancing reminded me of what a realtor recently told me...you marry the house and date the interest rate. I thought that was a pretty good analogy to remember!
Just curious, how did you find some cohost clients through bigger pockets?
Post: STR Rented to Brother Personal Use or not
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Should be days rented unless your brother has part ownership.
Post: Self traveler insurance
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
I'm a little confused about this question since I've never heard of a host "self-insuring". Could you give a little more detail?
Post: Curious if my home would be a good STR - wine country
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Reach out to @Aj Wong. He may know the area and if a property your size would do well or not. Sometimes it's really hard to know and it does seem like the smaller properties do better in situations like yours.
Post: New to STR market analysis
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Airdna is not a wildly off data point, they are the best across the board in STR data software. If you're really interested in knowing the different points of Airdna and how to use the software correctly, feel free to reach out! We don't pay a large amount of money to Airdna for nothing, that's for sure!
Post: These are the penalties/violations for unlicensed STR in Austin, TX
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Great post for Austin STR hosts! Thanks for sharing!
Post: Short term rental
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
If your property is in section 8 housing, it would not be worth the time, effort, or cost to change over to a STR. Also, it takes time to set up a property as a STR, more time than most people realize! So, you may just want to find another tenant that can move in asap.
Post: Airbnb guest problem: unauthorized guests and possibly a party
- Real Estate Consultant
- Ohio
- Posts 2,235
- Votes 1,298
Would suggest getting a Minut sensor in the property asap so you don't have to worry about a situation like this again!