Had my first small issue last night. Guests check in. I get a call that the Internet is out. I know it was on when they got there because I don’t turn the Ring doorbell off until guests arrive. Get tech support online and have the guests son as well. Turns out that the grandma doesn’t like Alexa so she unplugged it. But she actually unplugged the Ethernet from the router. When they plugged it back in they plugged it into the wrong port.
I don't think I could get the full $250K, but close to it. And this: I'd do 7-8%% if there's no pre-payment penalty and on a 10+ year term. Think I could pay it off in 2-3 years with the revenue it's bringing in. 15 year term would be ideal, could go higher interest on a longer term.
your local bank won’t help you with this? My local bank doesn’t have a prepayment penalty and since it is a “commercial loan”, I just give them a call when I’m buying a property with the address and purchase price. Sign paperwork at the end. Very easy to work with.
The property is in Mexico and I don't think any bank is going to finance a loan whereby the foreclosure would have to occur in a foreign country.
I wish 7% - 8% was still considered high interest. Shit, wolfpck and me are about to close on a house in Atlanta and the interest rate is going to be 7.5%. I know almost all our hard money loans we have acquired have been more like 10%-12% range and that was before the more recent interest rate hikes. And for that reason, I'm out.
I’ve been in the long term rental game for a bit but just getting into short term. I listed my property just to kind of gauge where opportunities would be and without having even many pictures up I got 2 people trying to rent it already. Trying to make it somewhere that families would want to go and also kids looking to party
Quite possibly will! I’m doing some additional work up there before I’ll have that done. putting in more flooring in the hallway and bedrooms, going to clear out the garage (it’s almost 1000 square feet), epoxy the garage floor, turn it into a hang out spot with a pool table, bubble hockey, pop a shot basketball, etc. Once I’m done with that I’m going to get pictures taken and relist it for real
Lol at 7-8% unsecured in the context of what you’re trying to do. Sure maybe SoFi may do 8% but you wouldn’t be asking if they’d actually do it. Give someone a second priority lien against your currently encumbered assets (second in line behind mortgage) in the US and you’re lucky if you get 12% or less, and more likely greater than 15%. And anyone that’d do such a mezzanine-type loan is def going to impose something functionally equivalent to a prepayment penalty.
I'm still technically a resident of WA as far as financial institutions are concerned. Now trying to go the sell my body route for an angel investor
Just went and walked this property. There's a third tiny house being built that's about halfway done. Three income-producing properties for $250K Russellin4885 I'll give you 13.5%
If you really want to do it, I’m sure my brother and I would possibly help if there’s a solid business plan behind it!
If tmb can successfully help dump lose his v-card surely we can get together and buy some Airbnb properties right?
Jesus christ you want me to repaint the exterior too?? AirBnB I'm staying at in a week. Yes there is a 100 dollar cleaning fee.
Guys, you have my word that the TMB Collective Mexican Airbnb for Wealth and Prosperity of Playa San Agustinillo tm will not have such unreasonable cleaning procedures for guests checking out.
I did not. I'm leaving at 3am to catch a flight and this was booked through a corporate account so.... they're going to get a solid B- effort from me.
We have no checkout instructions. Zero. And guess what? Most people aren’t giant dicks and leave the place ok enough for our cleaners to turn it over just fine. It’s probably 1 out of 20 that are bad, and even then it’s not that big of a deal. You just count it as the cost of doing business. Our cleaning fee is $200 for a 3 story, 5 bedroom with a decent backyard in the mountains. We’re $100 cheaper than our biggest ‘competitor’ in the neighborhood (and we’re a bigger property). About half of these rentals need to go out of business.
Has anyone used the pay access on airDNA or similar sites for market research? If so worth it or what have been best routes on demand/expected revenue in your neighborhoods?
My personal opinion, but I don't think airDNA provides a lot more value than you can glean just from perusing Airbnb and looking at a bunch of listings. And the numbers they provided for 2 of my WA properties were much lower than I actually bring in.
Whenever my place doesn’t book, or if I just don’t want the headache of hosting, I block out my calendar using my channel manager software. AirBNB and VRBO have no idea why the home isn’t available. They just block it out on their calendars. By doing this, I show 100% occupancy and when it’s available, I show up in results as a “rare find.” AirDNA (and other occupancy based tools) see the blocked dates and have no real choice but to think the property is booked. AirDNA thinks my home makes a zillion dollars a year because of this. It over inflates other cabins in our area too because it can’t account for owner stays. So don’t live and die by its numbers. That being said it’s the best available imo, and it’s informative in terms of seasonality and general trends. I also used it to research what my base rates should be along with seasonal adjustments. vacasa’s estimates were actually spot on. I didn’t hire them but going through the process was really beneficial.
I like Airdna as a baseline because, depending on your location, blocked dates on Airbnb can be due to the owner using the property if you just look at a few. Airdna is nice to have in aggregate but also yeah it’s way lower than our actual occupancy or monthly income.
I'm helping the GF with her Airbnb; anyone here used Vacasa? They seem like they're about as helpful as a bag of floppy wieners. I am urging her to end her contract with them and just manage it herself.
Ppl have complained about it ITT being unwilling to advertise a North GA Cabin as Blue Ridge and miss out on market
Just had guests smoke weed and cigars in our house and whatever they were smoking out of must have broken because there's apparently weed all over. And half drank booze. One, who wastes perfectly good weed and booze. Two, go outside to smoke you fuckin disgusting animals.
We use Airbnb and vrbo both. I tied their calendars together so if someone rents our place on one in blocks it out on the other. The vrbo team created my account over there by copying my Airbnb listing. I noticed that in June I had two same day turns. On Airbnb I have it set for shoulder days before and after a listing. I called vrbo since theirs didn’t seem to be working. Their response? Our software doesn’t do that. Seems a pretty basic feature to overlook.
I listed my rental before I finished doing everything (should be completed soon) and have had 8 bookings already within 3 weeks. Once I update the garage, epoxy the floor, and turn that into a game room I’m sure I’ll get even more. Currently jacked up about this!
I think I found another property I'd like to buy, but the seller is trying to set the record in the area with his price, and it's just kind of absurd to me. It's a residential property (cabin) and he's valuing it largely on pandemic revenue when everyone ran to the mountains. I'm going to try to wait him out and hope a newbie sucker doesn't take the bait.. But is anyone seeing purchase prices actually come down yet?
Airbnbs in Nashville making 4 star hotels look like an absolute bargain by comparison. Cheaper, no introduction paragraph as to my reasons for wanting to stay and no instructions for cleaning on top of a cleaning fee? Sign me up. I usually prefer to stay in an Airbnb but sometimes it just isn't worth it.
Believe I'm going to Nashville with 12 guys. We used to do hotels, but AirBnBs just work better. If I was solo with just my wife we'd probably do a hotel depending on location desires. Nice Atlanta hotels are ~$350. There seem to be a ton of carriage houses/ADUs in cool neighborhoods for like $150 or so with a low cleaning fee. We stayed in a place like this when we moved and need a few nights. https://www.airbnb.com/rooms/435073..._impression_id=p3_1679489952_EEKbY/+VajLV29N7