All Forum Posts by: Chris Armstrong

I am not bashing you by any means but the exit strategy or end game should have been decided well before purchase. 

@Ross Simsundefined

@Troy Gandee @Russ Scheider  

Thanks gentlemen, I will certainly attend the happy hour if I am not traveling for work. I do appreciate the responses. I have been getting to a few more of the REIA meetings and have met a few folks there who are doing things, I just need to become more active in these meet ups.

I am looking to spend some time in the field with people who are actually doing deals and making things happen. I am putting this out there, if you need a hand with literally anything from working on the house to picking up supplies for your contractors or whatever it is I am your guy. I want to surround myself with folks who are doing stuff. Whatever area of real estate you are in, I would be interested in talking with you about how I might help you, for no cost to you.

A little about myself,

I am employed as a chemist in Charleston and I own 2 Investment properties that are rentals (Short Term) and I am looking for the next deal. I will be getting my license as an agent in the next 6 months and I seriously want to become immersed in real estate. I want to learn more about scaling up a rental business and I would be pretty interested in seeing/helping in a flip. 

If you would like to see the properties that I have and how I do short term rental (sort of like a resume) just message me.

@Troy Gandee Thanks for letting me know, I will keep a look out for that in December. 

@Brandon Barnes Sounds like it could be a great meet and greet opportunity as well as informational. How would I find out more about that?

So just to make clear, if it isnt a guru pitch than thats a beautiful thing, however, in my area there is a guy who is selling a class for $150 on the secrets to airbnb. The pitch is that he guarantees that you will make 4x the rent just by registering your airbnb. Thats why i come at these type things with such skepticism @Megan Krekorian.  @Account Closed 

Just looking out for the little guy who is excited about investing and doesn't know much. 

@Account Closed

The number one question you have to ask to determine if you will have success is: Do you live in an area that travelers want to come to? Is tourism a big part of the economy? 

What I am getting at is LOCATION LOCATION LOCATION. If you like in BFE then your airbnb will more than likely stay empty.  

A realtor is not going to help at all except for if you need a property to buy or sell. Mine told me it was a waste of time and that I would lose big time if i tried Airbnb. Well, now we clear more than 4K per month per unit when traditional rents are 1100. Sounds like my realtor didn't know what they were talking about. 

PULL THE TRIGGER.

Honestly, if you have even 1 shred of common sense, the willingness to try something different and take a risk, a little bit of tech savvy, and a PROPERTY IN A GOOD LOCATION then you can succeed using airbnb. I don't understand why anyone would go to a meeting about something you can do for yourself. 

I have heard the pitches from folks who say they have "found the secret" and the truth is the only secret that they have found is the secret password to your wallet by playing on others' wanting more for less. Its kind of sad. However, the old adage " a fool and his money will soon be parted" does hold true because here in america we are full of fools who will part with their money to attend these conferences. 

Just putting a feeler out to the folks in the area, when/where is the next meetup for the charleston sc area. 

I have had lots of things going on that have diverted my attention from really networking and I need to hit the ground again and start moving. 

Keep me posted, looking forwards to hearing from you all.! 

Best

@Christina Kovacs the "hide a key" is what we use. We manage properties in our neighborhood so its easy for us to control entry. Works like a champ.

IF you have a property management company doing the turn overs then it will more likely be more expensive to set your minimum stay to one night, however, if you do the cleaning yourself then set the minimum stay to one night and set a cleaning fee of 50-75$ (assuming about 1200sqft). That cleaning fees could in theory be equivalent to $1-1.5K if you rented multiple one night stays per month, but its a lot of work. In my opinion if you are willing to do the hard work then you will make the good money. Prop management charges really high rates for that stuff (25-50% in my area). @Christina Kovacs