Airbnb Opportunity in San Diego (Feedback Needed)

[David Lowe]

The opportunity: 
7 bed house in North Park, San Diego. 1 shared bathroom per 2 bedrooms. Large communal kitchen, living room, outdoor lounge area. I want to create a coliving community. 

The questions: 
1). What could I charge per room per night bearing in mind each bedroom shares a bathroom with another bedroom? 
2). There is an opportunity to turn 1 bedroom with its own bathroom into a communal area/extra bathroom for the community. You lose a bedroom but you gain a bathroom in case one of the bathrooms is occupied within the shared arrangement. Keep it as a bedroom or turn it into a lounge? 
3). Who would you market this to?
4). What channels would you use to market this?  

[David Lowe]

@Michael Baum Yes effectively an arbitrage play. Rough rule of thumb in San Diego is $1k per room. So $7k is obviously high but in line. I appreciate your honest feedback. I am definitely in two minds now. 

[David Lowe]

@Emily Di I do believe my upvote was your 1st. Well deserved! Excellent breakdown of units and yield. Thank you. Marketing was definitely a concern. I think if I owned it, vacancies would be ok. But with a $7k

guillotine hanging above me, vacancies could kill me. If I invested $10k in to furnish for STR, that would also be at risk.

[Wendy Schultz]

Originally posted by @David Lowe:

@Wendy Schultz Yes. It's in the balance but at the moment, you can let out your place short term. If that changes, you just need to pay for a certificate to be able to do it. An outright ban will almost certainly never happen because the city figures it is better to make money of hosts than them do it illegally and lose everything. 

 It sounds like they have wisened up. We pay for permits and pay in room and sales taxes in Wisconsin and Florida so that's nothing new. It's small thinking on a municipality's part to outright ban them. There's lots of revenues to be made for them if they are smart and not overly cumbersome. 

[David Lowe]

@Lia Martinez Sorry for the delay in replying. I noticed that BiggerPockets had removed the post because I hyperlinked to my company (the very last word of a long post!). Ridiculous. Here it is again (with the hyperlink removed haha): 

Nice work on getting to 3 and being part of the coliving movement. Loved your detailed explanations of each of the 3 and your ideas. This is greatly appreciated. The big question mark off the bat was the 1 bathroom per 2 bedrooms. That immediately reduces the rate you can command because as you rightly said, nomads are going to expect a private bathroom if they are paying a premium. I also heard from a Boomers group that they need a private bathroom because they need to go more frequently. So a shared scenario is an issue for those 2 demographics. Coliving is a tricky space to be in because you are ultimately fighting the greed of landlords trying to milk the Airbnb cash cow. That said, it will bring community to the US and truly change how we live. That is why I am sticking with it. If you want to connect, please DM me or find me on LinkedIn. Would be more than happy to share what I've learned on my coliving journey so far with Qwerky.