All Forum Posts by: Calvin Berstler

I looked already and wanted to re ask the question… new year new data!

Hello Estrella, during my offseason in the Colorado area, I heavily rely on furnished finder for my property at a reduced rate so that I can fill the slow months but make enough to get to get by. For example, my Bnb will normally make $3.5K+ a month on a typical month, but during the months of Nov-Jan, I will typically list it for $2500 a month but have full vacancy. 

Good luck!

Hello, I was wondering if anyone could share from recent *experience* how accurate a Pricelabs, Airdna, or other market analysis software has been for them for estimated annual income? I KNOW there are a lot of factors to consider, but I just wanted to hear any examples anyone could share from their own personal experience when making a STR investment decision in an area (ie. Pricelabs Market Dashboard in a certain area predicted a 2bd/2ba in a certain area could make $35K/year with 65% occupancy, was that spot on for you or deviated plus or minus $10K).

Although thoughts from people with no experience is appreciated, I was hoping to hear from individuals with actual personal experience making a STR/MTR investment.

Thank you!

Hello Everyone!

I wanted to know if anyone has experience with having a gym on one of their investment properties? If so, how your experience has been so far and if you could share any lessons learned?

Do you have your guests sign an additional liability waiver before using the gym equipment in case of injury and if so, how do you have them sign it once booked? (ie Docusign link, in person, etc)

For all of you that think gyms are extra liability and should be avoided, I just want to hear about any actual experience someone has had in the area.  Any insight is appreciated for those who have experience in this area. Thank you!

Quote from @Kevin Boyd:

How is a simple gym with a few dumbbells etc. such a big liability? Is it more of a liability than steak knives, a staircase, a swimming pool, a fire pit? Seems like people are a lot more scared of liability than they should be. Like, how can you own a business or even a STR if you are afraid of someone dropping a dumbbell on their toe and hiring an attorney? I've owned several businesses, dozens of properties, hundreds of employees and not a hint of any frivolous lawsuits. I guess I just choose not to be afraid of the boogie man. And if the boogie man were to tear his ugly head, I have insurance.

Hey Kevin, I know it’s been a few years, but what did you decide to do with the gym idea? I agree with you completely on the liability fear everyone seems to have. Thanks!

Quote from @Richard F.:

Aloha,

Just be sure to discuss with your Insurance Agent about this additional risk you are willing to take...

Thanks Richard,
I definitely already did that and this will be covered in my umbrella policy of my homeowners insurance, but I was trying to find out if anyone has done an additional waiver on top of their insurance policy.

Hello Everyone!

I am in the final stages of finishing my basement of my current primary residence for the purpose of a separate entry STR on Airbnb. I currently have my own home gym that I will be allowing my guests to use (free weights, rower, assault bike, bands, etc) and I wanted to know if anyone else has done this and what your experience has been so far and if you could share any lessons learned?

Do you have your guests sign an additional liability waiver before using the gym equipment in case of injury and if so, how do you have them sign it once booked? (ie Docusign link, in person, etc)

For all of you that think gyms are extra liability and should be avoided, I am willing to take that risk as it will definitely differentiate my listing in my current market. Also, the gym will be in my garage so this is not a space that I want put an extra bed or anything like that (everything is secured of course, so no worries of theft in that regard).

Any insight is appreciated for those who have experience in this area. Thank you!