All Forum Posts by: Thomas Hoyla

@John Underwood from what I understand at this moment Co-Hosts do not need hold a property management license because the Co-Host doesn't touch any of the revenue, it is distributed through the Airbnb platform. The motivation of an owner to use a Co-Host is to boost their occupancy from a mismanaged property, and also to be more hands off which many people find value in. The value creation is through correctly listing the property with professional photos, optimizing Airbnb software to make the experience for guests more enjoyable and optimizing rental rates during the seasonality of the market. Many opportunities for owners in certain markets to increase their cash flow or keep it the same even after paying their Co-Host fee. I'm aware of the insurance risk but their are insurance policies available for STR businesses and I will take the necessary actions to protect myself and the owner of the property.

Co-hosting seems to be a great way to earn cash and learn the business of STR for someone who doesn't have the immediate capital to invest in a property. I currently manage 1 property for a family member but want to leverage what I've accomplished in that property into more Airbnb's. Anyone have experience in this or have any advice?

Welcome to the Sunshine State!

I recommend doing Airbnb with properties in Florida because at this point in the market cycle it is very difficult to cash flow in most areas of Florida. Not every market and area are the best though, look for things like tourism, proximity to hospitals or large business generators. You'd be surprised with how well some properties do in no-name markets, you just have to look at the Airbnb listings in the area, see their rates, their calendar of bookings and check the Airbnb regulation. Also, certain pockets of Florida have a large supply of short term rentals so do your due diligence. Last, if you want to BRRR, I would suggest finding those smaller markets that are little less known/cheaper where the competition isn't as high (Areas like Titusville, Melbourne, Homosassa, Ocala, Panhandle). Very easy to overpay in this state from bidding wars so think outside the box.

@John Underwood , I am not a licensed property manager. I currently manage 1 Airbnb for a family member but want to manage more if I can. 

When starting an Airbnb management company, what type of liability do you hold? Is there insurance that you need?

I am looking to begin sourcing off-market deals. With work, I do not have time to cold call individuals all day long. I am willing to utilize a service such as PropStream to identify properties and owners to text or direct mail. I saw in a previous forum post that texting owners can be sketchy due to certain regulations. How should I go about this and are there any software's you would recommend.

Been very bullish on the Charlotte NC market, and am likely looking to move there in the next few years. If you invest in Charlotte, what areas are you most targeted on. For the most part, the safer areas near downtown are extremely expensive from a rental stand point, but suburbs such as Belmont, Mount Holly, Pineville, Mathews, and Concord have much more attractive prices. What are some strengths and weaknesses in these areas. First deal there will more than likely be financed owner occupied so I can take advantage of low down payment, but move out and rent after a year.

@Jordan Thompson

Do any investors in Concord have a Property Management reccommendation?

Trying to find rent comps, can only find SFH and large (100+ unit) apartment rents. How different would rents on a duplex/triplex/quad compare to the SFH or large apartments in the market?