All Forum Posts by: Thomas Duhn

Quote from @John Underwood:

It sounds like Analysis Paralysis.

You have double checked the Airdna data which is great.

Are you using a spreadsheet to make sure you have everything accounted for?

Mortgage, insurance, property taxes, all utilities including internet and cable/satellite TV?

Lawncare and/or snow removal?

Reserves for repairs and replacement?

Reserves for slow months?

If you have all this go see the property, have it inspected and make an offer if the property has appeal as a STR and its in a good location.

You can always back out during the contingency period.

Yes, I made a spreadsheet detailing all the expenses (except a property manager). There are no lawncare expenses (HOA) and no snow due to geography. I "ball parked" the utilities, phone and internet but have at least accounted for some or a portion of them. I have minimal reserves but the way this is projected (by AirDNA) I should be able to recoup these with minimal time. We plan to see it next month. We love the area just have not seen the home. Thanks for the reply!

Quote from @Theresa Harris:

Go and look at it with your realtor.  Could be the location or something that isn't apparent from the listing.

 Thanks for the input. We have been to the area (not the individual property) and it is in a gated, well maintained community, with private security and 2 golf courses. We plan to see the property next month.

I have been running deals for practice. In running an STR deal, I found a huge return. I am analyzing the deals based on monthly cost and using AirDNA to determine a recommended daily rental rate. Similarly, AirDNA claims a 60+% occupancy. Looking online, it looks like the projected rate and occupancy is about right for that area. Using that model, local data and math, I am coming out with returns (ConC and AROI) in the double digits of percent after fees and all bills. This leads me to think I am missing something. Why wouldn't I pull the trigger on this? Being a complete newb, it makes me wonder how I found it and someone else didn't? Why wouldn't someone else pull the trigger on this? (and yes this is an area that allows STR and has similar properties that stay fully booked) Love the group and the feedback.