All Forum Posts by: Ande Andrea

Hey everybody!


So I am currently getting my feet wet with airbnbing 2 properties this summer in 2 separate cities/states.
This is my first time doing rentals of this nature; and I have fall back plans in place for 6-12 months leases and just regular renting if I am not booked enough or it becomes too much of a hassle for me. 

But when you bought your first rental properties and rather its airbnb or annual renting, did you feel fully confident you were going to be able to have it booked or rented at least in a timely fashion?
Any steps I can take to further increase my confidence?

I just have a concern about this and would really really love for these properties to break even for me, or at least bring in an income; and not be an expense to me. Thanks!!

Ok thank you guys!

What I would do if airbnb didn't work out is I would just rent it out at 6 month-1 yr leases and I would maybe break even at that point so it just won't be cash flow for me for 24 months. 

If I was to airbnb it by this summer then I could have at a minimum $2-300 on it a month and if I was booked regularly most of every month I could make a 1k profit monthly; I will have to figure out the primary residency thing tho...

I have been looking at a condo near downtown Denver right now thats in an amazing location, and with current market trends will do very well in the years to come as far as equity gains are concerned.

My issue is after reading thru all of the documents/bylaws and rules of regulations from the condo owner, I am a bit wary because of the HOA being very very strict. My main concerns are, the HOA cost is $175 per MONTH; and there is a "working capital" fee upon condo possession that is another $2000.
Who knows if I ever get that back. It goes into a "segregated fund" by the board. 

Is this HOA fee too high?? I was planning on using this property as an airbnb location as it is PERFECT for it, but the $175 per month fee has me wary... I am doing a 24 month lease option on this property and will be paying it at least 80% in cash if not all by that time frame ($160k); so...I was wanting to get it started as a rental property so I'm not out of pocket the entire 1k a month ill be paying on it as well until lease option ends. So it could at least balance out at zero for me. Other than the equity ownership ill have by lease end and then positive cash flow by that time.

I'm just not sure the route I should take... is this high for an HOA? This is my first condo purchase so I could use some advice when it comes to renting these things. thanks! 

Hey guys!

So one of my business partners is on this equestrian kick and wanting to build out a couple pre-fab cabin designs on a property he owns outside of Yellowstone and 2 hrs. From Jackson hole. It has a well/spring on the land and is about 20 acres.

Does anyone have any insight on how to sell this kind of property? Or if an equestrian niche is even a viable option? 

Any advice is welcome thank you!! 

Hey guys,

I am new to the forum but have a question I am buying a house in Washington on a lease term that by the end of (about 30-40 months) i will be paying the house in full cash (500k remaining); I have been finding some really great land purchase opportunities in Northern Cali. (Mendocino to Humboldt along the coast); I was thinking of during the time I am in the lease I should focus on building 1-2 houses on some land I can buy rather easily in full; then pay for a house to be built (I have developer and contractor connections) on the land for maybe 150k or so; and use the equity acquired from that or market value of the house to take out a HELOC to finish paying for my house in Washington; instead of me personally doing it all in cash. Then I own 2 homes out of that.

I am super new to doing real estate leveraged type of deals but would it work that way??? I am typically a cash buyer so I am just trying to see how I can end up getting 2 properties out of this instead of one; even if it doesn't pay for my 500k remaining in full; at least it could take 350k off.. 

Thoughts?  

Hey guys,

New to Bigger Pockets but been into RE investing since 2015; researched it long before that. I have a house I am buying on a lease option in Portland OR (suburb area; great area);  I have it at about a 35 month term, and will be paying for it mainly in cash upon the end of my contract, if all goes well financially. But during this term I was planning on testing out how I like Airbnbing some of the rooms out; since I will only be in the house part time and it will be a way to make some decent money on the property before I officially own. 
My lease option contracts simply states I can't have people in the home for longer than 2 weeks so that should be no problem. The upstairs of the house is completely finished at about 2800 sq ft.; 4 bd/2 bth; I was only planning on airbnbing out 1 bedroom for now to see how I like it.

I was planning a day rate of $120 or around there for the room; a great deal; or maybe more since they will have the upper part of the home to themselves. If I can have it airbnbed at least 15-17 days per month that will take care of rent I need to cover for being part time in Denver. Anyhow, my main question is this...

I plan on finishing building out the basement home section and that will end up having 3-4 more bedrooms plus a fitness center and theater room. So In total the home will have 7 bedroom and 4 baths; with 2 decks and 2 separate entrances.

Instead of doing an annual lease on the basement rental i was planning on just airbnbing out 3-4 of the bedrooms total for a higher income for me. What are peoples thoughts on this? I would have a minimum stay of 4 days for guests and max stay of 13 days. ; I would also hire a house sitter and house cleaner when I am away. 

Thoughts on this strategy?