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Subject Expert
$4,500 net for 2 1am calls? I’d take that trade off.
If that’s what bothers you, then hire a property manager. They’ll take 20% to 25% of your gross, but then you won’t have those 1am calls 🙄
Subject Expert
I only get 1 or 2 calls a year from my LTR tenants. And it’s usually something small.
I had a condo I was doing short term with, but switched to mid term for less overhead and management. I get 1 or 2 calls every other tenant asking about something, but it’s usually just “where’s the X?” (X might be the key for the pool / gym, mailbox, closest grocery store, etc…) that can be answered quickly. Mid term is definitely less headaches than short term, but long term is easily the most passive.
You should never base anything in reality off of “instagram promises.”
I switched one unit to mid-term rentals for traveling nurses and it’s been the perfect balance. Less churn, fewer headaches, still good income. Might be worth exploring hybrid strategies.
$4,500 profit?
I just started doing str this year but I don't like having other people in my vacation house. I'm not sure any amount of money is worth it because it turns a fun place stressful
Same. You also can't furnish the house theway you would if it was just you living there, because the furniture will take a beating, and you can't leave clothes/toiletries there either.
I’m surprised that no one has started a REIT or private fund focusing on professionally managed STRs. Like the way Black Rock has a portfolio of LTR, why not add STR to that portfolio.
Subject Expert
There’s several out there