All Forum Posts by: Timothy Eyrich
Timothy Eyrich has started 3 posts and replied 6 times.
Post: Oven or Dishwasher in STR?
- Posts 6
- Votes 3
Quote from @Denise Supplee:
Hi @Timothy Eyrich, nice to meet you here on BP. That sounds like an awesome project! At a beach STR, most guests aren't doing heavy cooking, so a 2-burner cooktop paired with a dishwasher is often the better combo. Guests love convenience, and cleanup is a big part of that. Unless you're targeting long-term stays or serious home chefs, the cooktop plus dishwasher should work great.
Thanks! I agree I’m thinking a large countertop oven / air fryer combo may work. I can keep it stored above the fridge. I feel like they could cook frozen pizza etc in that. But most people I assume will try out the local restaurants since they are staying 3-7 days typically.
Post: Oven or Dishwasher in STR?
- Posts 6
- Votes 3
Quote from @John Underwood:
Quote from @Timothy Eyrich:
I'm converting my garage to a 2 bed 1 bath STR at the beach. It will have all appliances except an oven. There's only space for a compact drop in cook top with 2 burners. It will have a dishwasher. Should I sacrifice the dishwasher for a full range or will the cooktop + dishwasher be better?
People wash dishes in the sink as long as they are aware. They couldn't bake something though.
What about a large countertop oven? They could do a pizza, wings or almost anything else at smaller scale
Post: Oven or Dishwasher in STR?
- Posts 6
- Votes 3
I'm converting my garage to a 2 bed 1 bath STR at the beach. It will have all appliances except an oven. There's only space for a compact drop in cook top with 2 burners. It will have a dishwasher. Should I sacrifice the dishwasher for a full range or will the cooktop + dishwasher be better?
@Dylan Brown thanks so much for the thorough explanation. I haven't started constructing on the ADU but the house with the carport was purchased in 2024. So for the time would you say that it would be based on house purchase in 2024 or ADU construction and service entrance which will be in 2025-2026?
Hi I'm new to this and hoping someone can help me understand this scenario. I have a carport underneath my beach house. I'm enclosing it to create an ADU - 1 bed, 1 bath, living room and kitchen. It will have its own entrance and will be used as an Airbnb for stays 7 days or less. It's going to be completely new construction and new furniture etc inside. I'll manage it myself and do all the cleaning, renting etc. Would this qualify as a property for bonus depreciation? Thanks!
Post: STR purchase negotiating help
- Posts 6
- Votes 3
Looking for some advice on negotiating the purchase of a STR in coastal NC. It's a second row triplex listed for $1.4MM. It's been on the market a year originally listed at $1.6MM.
I originally wanted to offer $1.25MM with 15% down and seller financing at 6% 30 yrs amortization with 5 yr balloon. My real estate agent talked us up to $1.3MM, same down payment and 6% rate. It was outright rejected and then a week later the sellers countered with $1.35MM and 6.5% seller financing.
2023 rental income was about $90,000 but for 2024 summer only 4 weeks are currently booked for $25,000. Expenses are about $20k annually for utilities, cleaning, etc.
Looking for any advice as to how to proceed with this. As we get closer to summer, if more weeks aren’t booked I’d want to offer less than my original offer. Is that a bad idea and likely to annoy the sellers? Any other tips for how to negotiate this in our favor?
Thanks in advance!