All Forum Posts by: Aaron Bihl

I haven’t really done much with commercial.  I wouldn’t use list source or propstream for anything over 4 units.  Their data isn’t great for that. 

Commercial stuff I would look into realeflow, costar, or reonomy.  I’m sure there are others too

Listsource or propstream depending on what you’re looking for 

@Will Barnard and to piggyback on that.  Legit buyers aren’t going to go around Your or care what you make in the deal. 

I’ve had people try to bring me deals and not want to provide the address which is just a waste of time 

Solid advice, I’d switch up the first part. 

Initially, I would find a legitimate buyer, build a relationship with them and start bringing them deals.

Send them the details, ask what they would pay and then get it for less. 

Over time you’ll learn how to properly comp properties, estimate repairs, and price properties rights to sell. 

I often see folks jump in and contract houses way too high, have no idea what the repair costs are, and ultimately have the house way overpriced and it’s a disservice to any investor wanting to buy the house and also the seller. 

Get a contract signed, take it to a title company and they will work out the details on what needs to be done. 

It will be easier and a better process for everyone involved. 

As someone who has owned and operated several airbnbs, has had an arbitrage before, and has long term rentals I can see how it could be great or be problematic. 

There is something to be said about having the house cleaned weekly and having access to it regularly.  This for the most part means it it kept up well, but also people that stay in airbnbs live hardddd.  They flush everything down the toilet that can be flushed down the toilet.  They put holes in walls, all kinds of stuff.  

I think if you're leasing to a reputable operator you should be fine and it will probably be a good arrangement for both of you.  I would make sure you're clear on who fixes various things and to what extent.  At the house I had as an arbitrage we paid to clean the sewer the line after it was clogged by wipes, condoms, whatever else...but then eventually found out it had serious plumbing problems.  An area of the house drained directly into the ground, and the other line was collapsed but then the owner didn't really want to fix these issues or not with any expediancy when he did.  It's really hard to rent a big nice airbnb that has a bathroom that doesnt work or every 3-4 stays the sewer line will back up into the tub.  

If they have good systems I think it should be fine, and whereas it's nice to see the house weekly, people that stay in short term rentals don't take care of things very well. 

And to everyone asking why she doesn't just manage it herself I think that's the wrong questions.  Running a hotel and having a longterm rental are two different businesses and that's not factoring in the up front costs of furnishing.

I could tell you who not to use lol.  Honestly I think property management is a difficult piece and many times the way they are incentivized doesn't really align with rental property owner's objectives.

I use excel for everything, they're great

As someone who has played around with Turo in the past, I wouldn’t recommend it.  I had cars stolen on multiple occasions, cars left in random locations, etc.   Turo also regularly changes their terms and it’s never in favor of their hosts. 

In general I would be cautious of any strategy that is dependent on some third party system. (I.e. Turo, Airbnb, etc). 

It’s difficult to deals on the mls, your best bet is learning to source your own deals or working with those who do.

@John Barr good stuff man. Now if we could just make it some sort of required reading for anyone interested in SA