Outfitting an Airbnb; economics vs. convenience

[Pat Jackson]

I'm considering partnering with someone to try and Airbnb.  I'm inspired to try running an Airbnb long distance.  https://www.biggerpockets.com/renewsblog/biggerpoc...

 This situation is appealing, as my partner would provide a newly remodeled 3 bed, 1 bath.  I would provide all the furnishings, (he already has the big appliances; washer, dryer, range, fridge), small appliances, linens, beds, couches, chairs, etc.  I would slowly manage more and more of the bookings, clients, etc as we built systems.  I get to learn about Airbnb from afar, he get's to see if it works locally.

Although I'd be keen to hear if BP members think this is a great or horrible idea, I'm more interested in how to most economically and conveniently stock an Airbnb.  I live in Reno, the house is in Missouri.  It's not unfeasible for me to travel to Missouri for a long weekend, hit up thrift stores, garage sales (though it's not really garage sale season), and craigslist to get used items.  However these items don't always come with receipts, one can't claim depreciation (at least I don't think I can), I can't maximize airline points buying items through airline portals 

https://www.biggerpockets.com/renewsblog/biggerpoc...

 I'd have to rent a truck of Toro, and buy an airline ticket.  

Combine these downfalls with my time, and I'm curious if I'm not better off pulling up various Airbnb checklists like this one https://bnbnomad.com/airbnb-kitchen-checklist/, and buying it all online between Black Friday and Cyber Monday.  They online sales events seem to all be about the same thing these days anyway.

I realize this second option will result in less cool stuff.  Nothing will really be chic, vintage, or otherwise awesome.  However I won't buy bottom of the barrel stuff, and I think (based mainly off my own airbnb stays where I just used the unit to sleep in) online purchase will suffice.  I'll end up spending more on the stuff, but factoring in travel and my time, will I really spend more?

Anyone have any experience in any of this?

[Julie McCoy]

Lots of us manage STRs long-distance.  I have four, the closest one is 200 miles away, the other three are 2000 miles away.  

You're overthinking this. Time is money. The faster you can get it listed, the faster you'll start making money. It's worth spending more money up front to get things done quickly. And it'll take you a lot longer than a long weekend to nicely furnish an STR off Craigslist and thrift stores.

Character pieces are great and I definitely recommend picking up some things that will help set your property apart and give it more appeal, but unless you want to spend a lot more time than it sounds like you do, that shouldn't be your focus.  Instead, find a local furniture store that carries some interesting things AND DELIVERS (e.g. not IKEA - you can look at vintage or secondhand furniture stores for some of the more interesting things, but check out the regular local furniture stores too).

The benefit of buying from a local furniture store, as well, is that you can build relationships so when you're in a situation like I was a couple of months ago where I had to replace a bed, you can do something like this: I called up my sales rep, told her what I needed, she texted me photos of the beds she had in stock, I picked one, paid for it over the phone, arranged delivery, got it delivered and assembled.  All from 2000 miles away.

I NEVER list a property without spending time at it first.  Others will do it sight unseen, so it's not to say mine is the only way, but I like knowing exactly what's in there, exactly what the condition of things are, figuring out all the quirks and answers to random questions guests may have.  I've spent anywhere from two weeks to 24 hours setting them up.  And the enduring lesson is: it always takes more time than you think.  So I've learned to be VERY organized when creating lists and knowing what my priorities are, and shopping at as few places as possible.  If I hadn't done that, I never would've been able to set up the one cabin in 24 hours.  

Bottom line: while write-offs and good prices are excellent things, don't lose the forest for the trees here.  Most important thing is to get it going ASAP, and if it costs you a few extra bucks along the way, just think about how much you're gaining by those extra nights being rented.  (also, so much of the things you'll want/need you want to buy new and I highly recommend taking advantage of the upcoming sales for your linens, kitchen supplies, etc.)

Good luck!