All Forum Posts by: Tyler Sherman
Tyler Sherman has started 10 posts and replied 26 times.
Post: A few questions as I'm considering transitioning LTRs into STRs

- Posts 26
- Votes 13
Quote from @Karl McGarvey:
For you #1 - Use Pricelabs! They have market data for only $10 that provides an incredible amount of market insight. I use it on every deal that I represent clients on down here in the Houston/Galveston area
Hey Karl -- thanks for the suggestion. I just purchased a dashboard for one of the properties on Pricelabs. I tried to do my own comparative analysis to filter down the properties that are most like my own. I noticed that the comp sets are broken down by Airbnb and VRBO. If I were to put my STRs on both platforms, is it sensible to combine the two figures, i.e., the estimated revenue from the VRBO + Airbnb to understand what my revenue could look like?
I find it a bit of a product gap that they don't attempt to give you a total revenue figure. Airdna's free calculator tool did give me a sense at a high level. I just wasn't able to see the data broken down like pricelab has it for each platform.
Thanks for your help!
Post: A few questions as I'm considering transitioning LTRs into STRs

- Posts 26
- Votes 13
1) Would anyone in the Charlotte area be willing to share their STR revenue and occupancy last year? Ideally for a 3 bed 2 bath home. I've reviewed some resources and Airbnb, but it would be hugely helpful to see some anecdotal numbers.
2) Is there an ideal time of the year to be opening your doors to STRs in Charlotte?
3) What is the climate on STR regulation in the area? Based on what I've reviewed, it looks like there were some attempts to regulate over the last couple of years, but it had fizzled out. I've also read the state legislature has a bill attempting to block regulation on STRs completely. As it stands, I believe there's no current regulation in place other than an occupancy tax.
I'm considering opening up my property to short-term and medium-term as well. It would be nice to meet some connections who are doing the same. An ideal scenario for me would be to build a network that can pass on opportunities if, for example, our homes are full.
Looking forward to hearing from you!
Post: Purchasing tenant occupied prop

- Posts 26
- Votes 13
Quote from @Wendy Man:
Not sure what you are planning to do with the property. Can consider requiring tenant to sign your lease (including language that terminates and supercedes all prior leases) as condition to close. Or can require seller to deliver property vacant. Also can get tenant to confirm in writing rent and security deposit amounts.
Post: Purchasing tenant occupied prop

- Posts 26
- Votes 13
Hi, tenant has been occupying property for over ten years and the seller cannot produce the lease only the renewal documentation. Not sure if lost or what.
What should I do in this situation?
Hello! I am looking into taking a pre-licensing course online in pursuit of the North Carolina Provisional brokerage license. Do you have any recommendations for good services that do this? The NC real estate commission website has 40 options and I'm curious if anyone may have had experience (good or bad) with one already. Thanks!
Post: Recommendations - Roofers in Charlotte Area

- Posts 26
- Votes 13
How did they work out? Any other suggestions for this area?