All Forum Posts by: Sarah Kensinger

You have so many comments here I hesitate to add to the mix. But if you would like some help running numbers or just chatting about underwriting feel free to reach out to me! I may send you a DM and explain further since if I say more this post might be removed. But it's not a hard process to underwrite a property and estimate rehab costs to the price of the STR.

I would love to hear what you're doing? Sounds interesting! 

You need to connect with @KiKi Wood! She's been doing STR in the Indianapolis area for a couple of years.

Bill Faeth has a STR in Gulf Shores that he talks about frequently on Instagram. It's one of the top producers there.

If you want to do more of a shorter stay to enjoy more revenue, I'd suggest MTR through insurance agencies looking to place people temporarily while their damaged home is being fixed. This would be a great way to make the 30+ day stay work and enjoy increased income on the property. This type of a MTR stay does bring in more than Furnish Finder as well! 

Also, if you renting to the average joe that you have no idea who they are, what they do, etc. You NEED to have an LLC on the property! Anyone that invests should be diving into asset protection and utilizing the strategies we have to protect our properties. For some reason this topic as well as STR safety is a taboo subject on BP, and after a year on here I have yet to figure out why. A great place to start learning about asset protection is Anderson Advisors and Clint Coons YouTube channel.

Also include what value could be added to the property that maybe you haven't done yet. Most investors what to add value to a property like this to boost income, and of course increase the value of the property. 

I'm sure you know it's a very seasonal area but if you're willing to do extended monthly stays during the off season that may help you cash flow better. It is beautiful there but from our research if you go further south towards McCall the area is better known nationwide.

Dynamic pricing software like Pricelabs or Wheelhouse and taking the time to look a data from those sites as well as Airdna to see what is happening with pricing and bookings. Of course, it's also a huge help if you know the driving force of the market, and how to tap into longer stays during the off season.

Check into the area around Sugar Mountain in NC. I don't know much about the area, but it seems to be an up-and-coming ski area where you may find some cash flowing deals.