All Forum Posts by: Dino Monteverde

Hi Mike - Everyone in the market is leaning towards private room rentals, and so having spent my time in some hostels prior, I thought shared rooms would be a great "niche" to explore. In my opinion, there really is not much of a night life or tourist attraction in Tacoma WA except for the peace and tranquility that the greenery of Washington State and cool weather offer. It is essentially a "cheaper Seattle" in a sense without the city life draw. I went along with my real estate agent's advice that because of the exorbitant rental rates of Seattle, it would drive people south instead of north and I bet on this as well. After two years, with housing prices in Seattle going down and prices maintaining or rising in Tacoma, this seems to have had some merit. Most of our clients have been people relocating from different states and/or in transition between jobs and waiting for an apartment to open up. Because we require no deposit or credit check, our accommodation is somewhat cheaper than a hotel/motel and serves as an in-between need for cheap transitional lodging. It's also not too far to commute to Seattle, but that's a lower portion of the percentage of guests we've had. 

Hello Everyone, thanks for the add! I am looking for some advice, here is my situation: -started with my first home in Sep 2016, end of year gross: $5K -2017, end of year gross: $60K -2018, end of year gross: $130K

I've had some difficulty with Airbnb "arbitrage", started 8 different projects, only three are operating to this day (one being mine, the other two I handed over to other investors) Since it's going to be technically our third year in the business, we should finally be able to qualify for a second home mortgage (so we don't have to deal with landlords again and I'm done with renting another location just to have to shut down months later) with the profits we've made. My question is, should we sell our current home and just opt for a larger place or keep it and start over again with the second home being smaller? I'm afraid if we apply and let our mortgage consultant know we are selling the home, they might not count our rental income for a potentially larger place anymore. We've re-invested about $80K into the business and if we maintain, we should be clearing $36K each year after expenses. Is this a good ROI? Should I sell and buy in a better location? We are located in Tacoma WA and ideally I would have bought in Seattle WA but got priced out of that market in the beginning. I'm also just thinking of selling the home and starting over in SE Asia with the equity in the home (bought for $250K now appraising for $360K). We are at the point of near automation but I'm thinking labor is much cheaper in SE Asia and will be easier and less stressful than to automate in the US. I would love to purchase an actual building someday in the US, but do not have the skills to build a proper business plan nor money to invest and right now we are operating out of a 5 bedroom home with two tiny houses in the back (25 beds). I've seen some proper hostels built in Vietnam/Philippines for about $60K (six floors probably and over 50+ beds). Based on our tax returns this year and after I submit to my mortgage lender, I will have a better picture but am constantly thinking about the next impending real estate downturn. Should I sell or should I stay? What do you all think? Thanks in advance!