All Forum Posts by: Dan Cumberland

I'm very excited about this.  I bought the book and can't wait to dig into it— plus all the bonus material!

Great thoughts here everyone.  Thank you!

Great to know @Mark Bookhagen !

Hi everyone!

I'm shopping around for a property manager for my first managed property.  I really like everything about this company except the fee structure.  I'd like your input:

They charge 9.9%.  Thier leasing fee is 75% of one month’s rent.  The renewal fee is $149.  They keep 50% of late fees.

I'm buying a duplex that will rent for $400 and $700.

I'm fine with the 9.9%.   The late fees are fine too.  It's the leasing fee and renewal that seem high in proportion to my rents.

Any thoughts?

Thanks in advance!

Hi Ellie!

We have a couple AirBnb's on our property.  We do keyless entry, as you suggest.  It can be very hands off— though some guests want and will require attention.  We pay our cleaners a flat rate for each of our spaces.  This makes it easy for us to pass along the cleaning fees to them without having to worry about them working too slow or too fast.

As for laundry, there are lots of options.

We have extra sets of laundry so the cleaners have a set that's ready when they arrive.  We do the laundry ourselves.  If our space was arranged differently I'd have them start it before they leave.

It only takes a few minutes to move it along and fold it, so we don't mind.

If you're building your duplex, make sure to have laundry outside the Airbnb unit, so you can have flexibility on that.

If you had 3 sets, you could have your cleaners put the dirties into the washer when they leave and then you could start it the morning before they come.  Then they'd start by putting them in the dryer while they clean, remove one dirty set and put the other clean set on the beds.  By the time they're finished the dryer would be ready for them to fold and then repeat.

Another option would be to use a wash and fold laundry service, which I'm sure your town has.

Good luck!

Thanks for the input everyone!  As I mentioned, I'm building out usage models.  If anyone is running facebook ads or email marketing for wholesaling, let me know!  I'd love to run a beta with you!  You can find links to my platform in my bio.

Update on my 90-day challenge:  I'm under contract as of this morning.  36 days to spare!

Hi everyone!

I'm not a wholesaler, but I'd like to talk to anyone who is that uses email as part of their prospecting process.  I'm building out use case models for a marketing software that I run that connects to Facebook and email lists.  We've had a lot of success with Real Estate agents and their email marketing list, and I'm curious if it could be helpful to wholesalers.

Is it possible to get email addresses alongside other contact information when you acquire a list?

Have you had success in using email marketing or Facebook ads as part of your process?

This is not a pitch in any way.  I'm just gathering information.  Thanks in advance!

Thank you both!

 @Max T. - I never considered that option.  Brilliant!

Hi @Jennifer Soelberg !  My wife and I are Airbnb Superhosts and platform Ambassadors— and Seattleites!  So we're not too far from you.

Subletting an Airbnb is totally possible.  I've heard of a handful of investors that got started that way.  As you said, it's best to play by the rules.  But there are landlords out there who will do this with you.  I don't personally use this strategy, and only rent our own properties, but I know it's been done.

Before we bought our place, my wife and I were renting another house with some extra rooms and the landlord actually approached US about Airbnb to see if we'd want to do it and profit share.  We ended up buying and house hacking our mortgage by creating a few Airbnb spaces on our property— but I wish we'd approached him about it sooner.

I'd suggest that you try to find some property owners who manage their own spaces so you can talk right to the decision maker rather than going through a property manager or manager service.  I'd also recommend that you make a strong promise that you're on the hook for any damage and that you'll pay the rent no matter what— plus possible some percentage of the upside.  You want it to be an easy yes for them, which means no risk and extra cash.