Buying another investment property

[Anudeep Pradhan]

Hello,

I am looking to invest in a property (I own an investment property already in LA County) in Big Bear,CA (San Bernardino County) and was looking for some guidance here:

- I plan to buy the property and make it a short term rental (AirBnB), however, I am new to the AirBnb world and if the money is not good on it, I would like to make it a regular rental property.

- Are there any such things as rent rolls for AirBnb’s?

- Any good companies that can manage a property- market it on AirBnb, etc.? I simply take the check each month :)

- Also, looking for good financing options- No hard money loans though.

Thank you,

Andy 

[January Johnson]

Quote from @Anudeep Pradhan:

Hello,

I am looking to invest in a property (I own an investment property already in LA County) in Big Bear,CA (San Bernardino County) and was looking for some guidance here:

- I plan to buy the property and make it a short term rental (AirBnB), however, I am new to the AirBnb world and if the money is not good on it, I would like to make it a regular rental property.

- Are there any such things as rent rolls for AirBnb’s?

- Any good companies that can manage a property- market it on AirBnb, etc.? I simply take the check each month :)

- Also, looking for good financing options- No hard money loans though.

Thank you,

Andy 

If the property is already a short term rental, you can ask the owner (through your agent/their agent) for rental HISTORY as well as COST TO OWN, and--if they are a good, knowledgable realtor--rental PROJECTIONS.  Or you can go on Airbnb and find the neighborhood you want to buy in and check out the hosts' calendars and daily rates to see what STRs are going for nightly.  At The Short Term Shop, we call this the Enemy Method.  

I don't know what property managers charge in CA, but in FL, you will pay 25% off the top to the management company. My team is in 8 states and 14 strong STR markets. We teach our clients how to manage their own property remotely so they can keep the 25% in their pockets.

Message me if you would like more info.