All Forum Posts by: William Shropshire
William Shropshire has started 3 posts and replied 9 times.
Post: STR Market. Starting to return?
- Atlanta, GA
- Posts 9
- Votes 2
Hey, guys. Just doing some research on general vacationing here in America. As well as some preliminary research into buying my own property one day.
Wanted to see how the market is holding up for STR investors? I'm sure it was hard first part of 2020, but has it started picking back up for you?
Thanks for the insight.
Post: Setup LLC within the same state as condo or my home state?
- Atlanta, GA
- Posts 9
- Votes 2
From what I've been researching, moving property into a LLC is a pain in the butt and costly. Particularly if you have a mortgage.
Wouldn't it be cheaper/easier to just get some good property/liability insurance when starting out with rentals?
Post: AIRDNA - Best Places To Invest
- Atlanta, GA
- Posts 9
- Votes 2
Originally posted by @John D.:
Also I see Joshua Tree and Yucca Valley near the top of that list. Both of those markets are likely to see a major change in their rental ordinance, or a drastic change in the enforcement of the existing ordinance, or both. There are too many 1 bedroom homes being listed as accommodating 16+ people, and the locals are pissed.
Oh wow. Yeah I can understand being upset.
Post: STR Data Analytic Sites
- Atlanta, GA
- Posts 9
- Votes 2
Originally posted by @Ken Latchers:
You can't go by airDNA or any other site. When you are new, you can make far less than the predicted amount. Especially until you get on all the booking sites with great pictures and a lot of reviews and great service and working through how to price things at different points of the year and other things. You might be shocked how much less you make as a brand new person except in a few markets
Originally posted by @William Shropshire:
Originally posted by @Michael Baum:
Hi @William Shropshire. I agree with @Paul Sandhu on doing your own research. I find AirDNA specifically is a bit skewed depending on the location. The more rentals, the more accurate the rates.
Our area doesn't have a ton of STR's thus the AirDNA results are way out of whack.
So what you need to do is once you figure out where you want to be, start searching AirBNB and VRBO/HomeAway. Look at property's that are similar to yours and get an average nightly rate and check occupancy based on their calendars.
Don't forget to look for a great cleaner and handy person.
Thanks, I've been doing it manually like you said. Was just interested if anyone used any of these paid services.
Oh, I get it. I don't plan to jump into a property and necessarily hitting my occupancy goals right off bat. We already have about 8 months in reserves to pay for monthly expenses. Not including our monthly salaries during those months.
Post: AIRDNA - Best Places To Invest
- Atlanta, GA
- Posts 9
- Votes 2
Thanks everyone! Yeah I'm in the process of doing all the regulation research now. The forum has been a huge help in just the 2 days I've been using it.
Post: AIRDNA - Best Places To Invest
- Atlanta, GA
- Posts 9
- Votes 2
We have the money, now my wife and I are trying to decide on our first rental spot. We live in Atlanta and still considering doing a traditional rental for our first property here (or maybe Nashville), but leaning towards the vacation rental due to higher potential revenue.
Came across this on AIRDNA. Just wanted to know people's thoughts on some of these ratings.
https://www.airdna.co/blog/best-places-buy-vacation-rental-property
For our STR we are leaning towards somewhere in Florida (Kissimmee), Hawaii (Maui), Vegas
Post: STR Data Analytic Sites
- Atlanta, GA
- Posts 9
- Votes 2
Originally posted by @Michael Baum:
Hi @William Shropshire. I agree with @Paul Sandhu on doing your own research. I find AirDNA specifically is a bit skewed depending on the location. The more rentals, the more accurate the rates.
Our area doesn't have a ton of STR's thus the AirDNA results are way out of whack.
So what you need to do is once you figure out where you want to be, start searching AirBNB and VRBO/HomeAway. Look at property's that are similar to yours and get an average nightly rate and check occupancy based on their calendars.
Don't forget to look for a great cleaner and handy person.
Thanks, I've been doing it manually like you said. Was just interested if anyone used any of these paid services.
Post: Pros and Cons of VRBO Investing in Maui
- Atlanta, GA
- Posts 9
- Votes 2
Great info here. Also looking at Maui or Oahu for a STR property.
Post: STR Data Analytic Sites
- Atlanta, GA
- Posts 9
- Votes 2
Hi everyone -
New to the site/forums. My wife and I are considering purchasing a rental (leaning towards STR). Was just wondering if anyone have any experience with these data analytic websites like AirDNA or Mashvisor