All Forum Posts by: David Piqueira

@Bryan Reid I know one person renting out his basement on airbnb. He has a pretty nice house downtown and the basement has it's own door/bathroom/locks, so it can be rented as an entire unit. He seems to be doing pretty well. Also, from some quick analysis it seems like there are quite a few airbnbs in Lexington that are doing pretty well. If I end up finding a place I can always send you an update after a couple of months to let you know how it's been doing.

@Tara Sienkiewicz It's awesome to hear you are excited about this investment strategy. It can be a little bit divisive, but it also fills a role. At least in St. Louis the people I talked to loved the addition of airbnb to their city as well. There is a huge shortage of hotels, especially in certain parts of the city, so people were generally excited that airbnbs were giving certain communities exposure and business, as well as providing travelers with more affordable and unique options during their visit to the city.

Thanks for the rundown on some of the different areas. I would love to find something around Jefferson or W. Sixth, but I haven't seen much on the market in this area. There are a couple of houses I see off of Bennett Ave., as the crow flies it looks pretty close to Manchester, but there's this big industrial area between Bennett and Manchester, suddenly it doesn't seem close enough.

I think the vibe I'm getting is that Duncan Park area (3rd/Loudon) has it's rough parts, and there might be some good properties in this area, but a lot of due diligence is required to make sure it's in the right location. I will probably continue to look in this area as well, but tread with caution 

@Joe Marcum So it sounds like that area between 3rd and Loudon is not the nicest, and might be a bit too far away from downtown to really work as a short term rental. It also sounds like certain parts are going through a bit of a revitalization though. I was wondering how street to street this area was, like, if certain blocks are fine and other blocks you want to stay away from. Either way i'll be wary. 

I have heard that manchester is developing into a pretty nice street, and I was looking at a couple properties off of Bennett Ave, but wasn't sure if that was too far removed.

I also heard that south of winchester might be a contender, and i found a place on dayton ave that looked decent, but again my real estate agent said this was a bad area.

Thanks for all of the info! That's good stuff.

@Emanuele Pani Yeah it's true. I stayed in an airbnb in new orleans recently and woke up to somebody in the adjacent unit yelling "b*tch, suck my d*ck" over and over again at like 9 in the morning. I tried to leave an honest review stating the good and bad things about this particular place, but somebody else could have easily written a much harsher review. That can take awhile to recover from. That's also why I want to really practice due diligence and learn about the neighborhood I'll be buying into

@Tim Stolt Now you're speaking my language! The skiing analogy is spot on. That was kind of my impression of Lexington before I actually started looking for a place. Now I'm not so sure. I have asked my realtor for some areas that I should be looking at, haven't heard back yet.

@Andrew Johnson I've asked for some listings from them, as well as areas that I should be looking in. We will see what turns up. I have been focused on short term rentals because the numbers look great. If I can't find anything that makes sense I might reconsider traditional cash flow rentals. Or look at other markets. It's just that I would love to put some money into Lexington because that's where my partner grew up, so it would be nice for him to own close to family. But if it doesn't make sense then I'm not going to enter a bad deal for the sake of being in Lexington. It's just that it would be nice if it did make sense.

Hey there!

I am looking at investing in short term rental properties (airbnb, vrbo, etc) in Lexington. My partner grew up and went to school in Lexington, so I have mostly been relying on him for information about the different neighborhoods in Lexington. Additionally, I have been working with a couple of real estate agents in the area.

Finding properties has been kind of tough, as I am looking for a particular nexus of low price, good location, and turnkey. Maybe I am looking for a leprechaun riding a unicorn, but I have found a handful of places that I thought might work. Only my real estate agent keeps saying that every property I send her is in a bad area.

I thought that Lexington was a relatively safe city? Anyway, I wouldn't mind a second opinion about some of this stuff, since I feel like I've sent my agent listings from all over the city and she's come back on every one saying that it's not going to work because the property is in a bad area.

Is Lexington actually a pretty rough place? One of the areas that I am interested in is between 3rd and Loudon. There seem to be a decent number of cheaper renovated homes there, and it looks like it is still pretty close to downtown.

Any additional insight is appreciated.

-Dave

@Adam Kroll I've been looking at Lexington pretty closely for the past week, and I've already got something set up in St. Louis. So if you see anything interesting in either of those markets please let me know! I'm open to other areas as well, but those two are my focus right now.

@Dave Visaya Thanks for the info!

PS: Is there a way to respond to people inline?

Hello,

I am pretty new to REI, but I've been doing a lot of reading, research, and learning. I've also been talking to everybody I can about it, and having a lot of fun getting in the game. This past January I bought my first property in St. Louis and it's currently renting as an airbnb.

I would love to invest in my area, but my goal is buy & hold cashflow and last time I looked there wasn't a whole lot out there around the Boulder/Denver area that was cheap enough or had good enough returns. So I've been looking at the midwest for some other potential markets.

Currently, I have a partner who is interested in investing in Lexington, so I am doing some research on that market to see if it could make sense. I would like to get another property or two by the end of the year.

Looking forward to connecting, learning from, and sharing with this community

-Dave