All Forum Posts by: Bob Willis

 search airbnb arbitrage in the search feature at the top - tons of hits

If they leave and it sits empty for two months you are out $5400. Once rented, if you increase the rent by $200/month, it will take 27 months to make up for that. Is that worth it to you? But maybe it won't sit empty at all. But maybe the new tenants won't take good care of the property... So you can roll the dice and see if they will pay more by giving them notice. Also, not sure it is an eviction. You are just cancelling the month to month. But I don't know NY tenant laws.

Can you go someplace like HotPad (they are owned by Zillow) to see what rooms are going for? I think you can do that same type search on Zillow looking for a room to rent.

Do you have an abandonment clause in your lease? If not, you should. 

@Joe Villeneuve has a model he uses (at least that is my interpretation). He may have some valuable input on this.

I recently used HotPad - they are part of zillow I believe.

Do you have anything in the lease regarding abandonment of the property? If not, you should (not be snarky) so that if a tenant leaves, the lease is broke, you take possession.

Financing depends on your financial situation, you don't share enough for a valid response. If you live in it two years you don't have to pay taxes on the gain. Might want to think about that.

 @John Underwood - when you say high standard, are you doing this yourself or PMing it out? If the latter, how do you monitor?

I pay 18% for my PM on my STR. Are you bundling other things into your 30-35% number?