All Forum Posts by: Bob Willis

@Daniel S. - any update on where this went?

@Chad Cherry - did you pull the trigger? If so, anything you can share?

There are some incredible deals to be found at consignment stores. We have outfitted our short term rentals almost exclusively from high-end used furniture at consignment stores. 

 Hey @Paige Bostic congrats. I think the thing is to not over-complicate it. If you were to buy a single family home there would be ongoing maintenance and upkeep to your property, a duplex or tiplex is not that much different. You need a plumber in your house, you call a plumber, you need a plumber in your unit, you call a plumber. You don't need to have all these resources in place to operate a house hack. My only advice, be very clear with your tenants on expectations and the repercussions if those expectations are not met. I once thought you needed to bend over backwards to accommodate and be nice to your tenants - Wrong I'm not saying you need to be severe, you just don't need to be professional. Cut and dry. Best of luck.

Do you rent these at LTR, or STR (i am guessing LTR)? I have never even thought or considered new build. Can you share your strategy?

There is an auto app like Airbnb, it is called Turo. I've thought about it, but have not done it.

The pool should give you more bookings and a higher daily rate. The putting green, nice to have, and will get more eyeballs, but probably not going to drive higher daily rate. Also, the pool is a long term investment, and better for resale, putting green, not so much. You see very few people adding a putting green to their personal residence (at least in my experience). If it is really a binary choice, the pool wins imo.

Is there the opportunity to purchase a different house and move it on to your lot? I know that sounds a bit weird but that is exactly what I am doing right now. My partner and I are buying two houses that would otherwise be demolished (we got them for very low $) and are moving them to two vacant lots he already owns. We are installing basements on the lots and adding fully conforming bedrooms in the new basements. We will then rent these out. We have a strong rental market in the town I live in so renting them out is not an issue. Just a thought.

So does the co-host offer more than what a PM would do for an Airbnb? That part is unclear to me. I currently pay my Airbnb property manager 14%, what would a co-host offer for that 6% higher rate that a traditional PM does not? Just curious. Also, did you facilitate any of the Airbnb purchases for the properties you co-host?