All Forum Posts by: Yu Liu

Do you have 180K in cash to spend or are you looking for properties under $180K?

Do you plan on using financing and if so how much? typical investment properties require 20-30% down depending on the lender. 2nd homes require 10% down payment so that could help.

For homes under $180K, you're looking in mainly suburbs, the midwest, or rougher areas or things that might need some rehab so it depends on what you want but you can definitely find something for that price and lower. There's a lot of ways to do it. 

But yes, first target your ideal market and build a team there

From my experience, no as long as you have a reasonable reason (sounds like you do). Life happens things change, and people move, no one will hunt you down for it. 

Note I'm not a lawyer or lender so do your own due diligence. 

Main thing is utilities (include wifi, garbage, etc). Then add in toiletries and a small percentage for replacing towels and sheets or anything minor that might need replenishing. 

With a conventional loan, you can put 5% down, monthly payment will be higher. Good luck!

I like PL a lot but depending on how occupied you want it, you want to adjust it up and down from the base price. Also some of the peak days, you might find that it doesn't price as high. Best bet is to find the peak dates and see what others charge, if a good number of them charge double what pricelabs recommends and they still get occupied, do that!

referrals from local fb str groups, turno, thumbtack, task rabbit

Hi Maria, you are not alone as this is a very common concern. We've all had it in the beginning but honestly, it's one of those things where you have to just let go and trust the team that you select. I always like to have one or two back up cleaners that I trust as well. I ask them to send me pictures after every clean and that has usually mitigated most issues. Cleaners are your #1 team member!

Do not expect it to be perfect! Even the best cleaners will make a mistake or two, handle it with grace because we are all human at the end of the day. With all that said, managing it remotely is one of the best things you can do because now you have the freedom to do whatever and still enjoy the cash flow of STRs. Good luck and feel free to reach out if you have any questions. 

I'm in Ontario, CA sometimes. Would love to connect and network!

I have a friend that invests in the Inland Empire markets and it does pretty well according to her if you wanted me to connect you two!

Being in the STR space, it has been really good crafting descriptions and auto messages that can be used to create a listing on airbnb, your own website and guest communication messages

I dont have too much data on how the killearn houses do but generally west pensacola/near the universities are fine. I kind of need to know more about your situation and your thoughts. Feel free to message me as I invest in STRs in the area