All Forum Posts by: Akash Kakumani

@Jacob Morgenstern we definitely intend on hiring out for cleaning and building. But for the second one being able to visit will make things easier especially during contracting time. 

my first airbnb, I wasn't around and construction took a while which left me with the feeling that I should be monitoring and visiting the location more frequently. 

additionally, my main goal is covering my w2 taxes via the short term rental loophole. Having this closer by makes the requirements easier to achieve. Additionally it would be nice to write off a car and whatnot which I can't do with my first Airbnb as easily. 

but addressing the root of what you're saying, I 100% agree with you. I will ensure I watch out for the pitfalls that may likely happen with getting an airbnb closeby. All the value add I'm looking for will be zilch if I fall into the pitfalls you mentioned. Thanks for the insight! 

@Wilson Lau that would be amazing, thank you! 

I've been searching through northern Calfornia STR markets and a bunch caught my eye, but everytime I dig deeper, there's some problem like regulation or profitability. It seems like Southern California does not have this problem at all, there are many markets that just work. I want an STR nearby (I live in the bay area) so I can manage it better.

What markets are people targeting in Northern California? 

The location is more accurately 

coachella, CA 

The location box didn't have that city so I put what I saw was closest. Anyways onto my question:

There are a lot of tax incentives to having an STR if you do it yourself. This would be my very first purchase in a new market (I'm from norcal) and I'm worried about taking on the burden of managing. I found one property manager that will help me accomplish the requirements for meeting the tax needs as well and only requires 10%. But this manager is less experienced than another property manager that will take 20% and has 50 properties. The other option is I say screw it and manage it myself. Which direction do you recommend?

Also both property managers have recommended that I at minimum have a pool installed in the house since it's hot in this area. One property manager (10%) is more flexible and says that I can get away with 100-150K of rennovations (including pool which is 80K), whereas the other (20%) property manager says I would need to do 200K to get the returns I'm looking for. So - how much rennovation do you think is necessary? 

It's a 5 bedroom 3 bath with 2800 sqft. I intend on expanding the bedrooms since that's what the market seems to really like (the more bedrooms the better) based on conversations. 

Also unrelated question - is there a way to connect and speak to someone live for a full consultation on this website? I'd love to go over my spreadsheet and assumptions as I'm for lack of a better term "******** bricks" with this first property :) 

Thanks for your help!