All Forum Posts by: Angelleena Arevalo

@John Carbone, It appears they have just created their AirBnb account this month which would mean only 1 week active. Zero reviews and not much on their profile. I inquired about their reason for an extended visit and his response was "for a trip". All of which are red flags. Thank You for the tips, I'll be sure to keep an eye out for these things when I am vetting guests!

Hello,

I have officially listed my first Airbnb and received a long-term stay request. My initial thought was positive as we are transitioning from summer to fall and bookings are slowing down. After giving this idea more thought, I began to spiral into the 'what-ifs'. What if: they don't leave on time? begin to squat? ruin the home? etc. 

To counter these potential risks, should I create a lease/rental agreement? and to what extent can I screen the renter(s)?

Any/all advise is welcomed. Thanks!

-Leena

Hi All!

My name is Angelleena and I'm Active Duty Military. In July 2017 I purchased a single family home for $265,000 (conventional loan) and its market value now averages $450,000. Since then, I have purchased a townhome in FL for $260,000 (VA loan) and its market value now averages $285,000. The FL home is my primary residence.

The WA home has been rented out to the same tenant for the last 2 1/2 years. My mortgage is $1,620, HOAs are $35, their rent is $1,895, property management takes 10%, leaving me to cash flow $85. These tenants have not had a rent increase since moving in. The BiggerPockets Rent Estimator estimates rent for a 3 B / 2.5 Ba at $2,620. Based off other comps in the area, I would be comfortable increasing rent to $2,500, to which I can then expect to cash flow $210 after subtracting my mortgage, HOAs and property management fees.

What advice would you all give to someone who is torn between holding or selling? And to someone who wants to scale? I would like to create passive income to become financially free and get my time back. I am at 8 out of 20 years in the military and I would love to pursue real estate full time.

Thanks! 

- Leena