All Forum Posts by: Aaron Bihl

Hey Josh,  I posted about the 2-3 meeetups i've attended or know about.  I'll find the post and tag you in it.

They unfortunately share a yard (and driveway).  I would like to separate them eventually but haven't yet.  I also have friends who have a similar situation and their back house has alley access and that works out really nice.

@Katie Fiola Jones  if buying the property I would want to make sure that it would also make sense as a long term rental,  I would also be sure to look into the regulations for the city its in.  I know in my city permits are required for STRs and they are not transferable and many of the units that have been grandfathered in wouldn't meet the requirements on the new ordinance.  Just something to think about.

 For sure, I’ll reach out 

I have a similar property in San Antonio and it’s working pretty well.  The front is a 3/1 short term rental and the back is a1/1 casita.  The casita is long term rented (including utilities since its one meter).  The long term rental nearly pays the mortgage and everything on top of that from the short term rental is just bonus. 

I think it’s a set up that can work well.

Hey Alexia, 

I don't know much about the memphis market, but I would want to make sure that the property I was buying would make sense as a long term rental.  I would want it to be profitable a long term rental in case the short term rental didn't work out, or regulation changes prohibited it from being an airbnb, etc.

But in general, I think if you are willing to put in the work with a short term rental there are good returns!

Is this a new model with loftium? Last I saw they offered down payments for owners willing to STR a unit/room in their house?

Eric, 

I currently manage mine in the city I live in, but don't see if being much different as long as you have a team in place.  I have a handyman and cleaners that take care of things, as long as you have reliable folks I don't think it would be an issue.

I have 3 of everything, and a few extra comforters as well.

Are you planning to manage yourself? 

If so...a few things I’ve learned

-everything matters, there are so many details and touches that you would normally look over but in Airbnb it matters.  I’ve had guests tell me that the house was very clean but they found dust in one corner, and that was the difference in a 5 star rating and a 4 star. 

-First impressions are huge.  It seems like my guests within the first 5-10 minutes decide if it’s going to be a favorable experience. 

-Be cautious with accepting first timers.  A lot of times they are decent but they don’t have expectations for what an Airbnb stay should be.