I wasn’t sure what “ready” meant. Almost as if it were open to negotiation as to whether furniture was included—but the smart tv was being sold no matter what.
if only I had better timing. I would be interested in that, with exception of all cash. I ain’t got that. I highly doubt you’ll still have it for sale in a year but if so, I’d be interested.
I think he manages it with the help of a cleaner. No clue what his debt service looks like but I’m guessing his IRR is insane
TBH, I'm worried about it deteriorating a lot faster than a stick-home. I thought a long time about selling the tiny home and building a stick-home, but would rather build my own place and make it badass. I got a few more.
Give me 51% ownership and we can have a conversation. Gonna model it after the Pervert Club in Mex City.
We have our first "long term" guest right now. 45 days. I had a long term stay discount set up on AirBNB that was way to high that I forgot about, but let it go through since it's still more revenue for the month compared to previous years except peak covid. It'd be nice to have longer stays and less turnover to deal with.
just a fyi on long stays - depending on how you have the insurance policy set up, some companies put a restriction on stays over 30 days. If there was a claim, they could deny it because of the length of stay. The likelihood of that happening is pretty small but wanted to bring it to your attention just in case.
In this particular case I researched the heck out of the family and think it's safe. I hope. I'm used to 2-3-7 night type of visits, though, so its a bit nerve-racking
You want 6, 7, 8 and 9. Here is a 4 Property Airbnb Package on Higgins Lake in Michigan. I'm helping the listing agent try to sell and market this property. https://portal.onehome.com/en-US/share/1205759z64606
Have sold all of mine except one (duplex in Nola). Paying almost $20,000/month in mortgages was stressful. Always covered it, never missed a payment, but just seeing that activity in/out of my account was anxiety inducing.
Plan is pretty much a property a year unless we find something that is worth more than 1 a year. Want 15-20, ultimately. We're finally cash flowing enough to use it to pay for a new house without throwing any personal money in and that's rad as fuck.
I'm glad I did it, learned a ton, and will definitely get back into the game at some point in the next 3-5 years. Probably with a mgmt company tho, I'm done dealing with renters myself. Will probably trend towards higher end places if I can make it happen, at least that'd be my preference. Def easier with partners.
Had my first bad experience with our SFH rental this year. It cash flows and has been otherwise good, but this year we got a crap tenant. A grandma on the lease ended up with a bunch of other people there. Not supposed to have pets but had so many pit bulls they got animal control called. We fined, they refused to pay, we had to evict. They didn't necessarily intentionally destroy the house, but 6-7 large dogs and 4-5 people in 3 bedrooms did anyways, so we needed new floors, new paint everywhere, new blinds, busted appliances etc. about $6K in repairs for something that cash flows about $300-400 a month at the original rent. Good times.
Unfortunately, gotta sell my duplex in Nola. Who wants to buy it off-market and save me the buyer's commission? It made $15k for the Super Bowl. Prolly more than $20k for mardi gras. Just sayin
Selling this spot because the house I'm currently building is running way over budget. Shocked! Conversation pits be expensive. And big windows are expensive. https://www.zillow.com/homedetails/539-S-Miro-St-New-Orleans-LA-70119/148959718_zpid/ Near the hospitals, just below MidCity. Walking distance to Superdome and Smoothie King. It's about 1.5 miles to the French Quarter, I'll walk if the weather's nice but usually uber. It has a valid New Orleans commercial STR permit, which the city stopped giving out to curb the rise of Airbnbs. The permits travel with the property and is grandfathered in to new owners. My management company is really, really good (you're required to have an STR mgmt company in New Orleans, although I'm sure many ignore this). https://www.airbnb.com/rooms/1023947791868538338 https://www.airbnb.com/rooms/1020895494206758389
I'm going to go stay in it one more time after I'm under contract, but before closing. Let's make a TMB bachelor party out of it. NPR you're not invited
It's not really a cash cow. It pays the mortgage and builds equity. But it's also just fun as hell to have a place in Nola every time I go.