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All Forum Posts by: Gururaj Iyer

Gururaj Iyer has started 23 posts and replied 108 times.

Post: UK Citizens on a US mortgage

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33

Hello , anyone know of or aware of lenders who can be on the mortgage for a property purchase in Vermont?  Basically trying to purchase a property , collaborating with sibling who's a UK citizen , title & deed would be registered as well.  

Post: Airbnb's Future into 2023

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
Quote from @Ryan Moyer:
Quote from @Jay Thomas:

It is becoming increasingly clear that Airbnb has a bias towards favoring guests over owners, and it's not just a perception. Real estate brokers have voiced their concerns about how this can negatively impact the market long-term, as it opens up an avenue for short-term renters to take advantage of homeowners who are seeking long-term tenants. It's also led to an increase in bad apples on Airbnb, such as those who cause property damage or break rental agreements. The reality is that Airbnb needs to adjust their policies and make changes that better protect both owners and guests alike if they want to stay competitive in this arena. Otherwise, they risk losing customers to other real estate services that are more balanced and accommodating.


Speaking of bias, hosts think Airbnb overwhelming favors guests.  Guests think Airbnb overwhelmingly favors hosts.  It's really a no-win situation for Airbnb.

 well not really- the answer is pretty straightforward and avoid having both guests/hosts game the system.  case  in point - they listened from hosts and brought in the retaliatory review removal policy - Stumped me as to why it wasn't brought in all these years.  When there is 100% evidence of retaliation by guests - a review can be removed .  Stronger air cover policy .  For guests - the pricing summary while booking - is what they introduced. A company whose revenues have quadrupled in last few years can surely get out of a "no-win " situation . 

Thanks ! yea I figured downtown LP would be tight & more controlled by the commercial/hotelier lobby. Looking at adjacent areas within a 20 mile circle. The last time I was in the area - I was kinda not able to find apt resources to rely on for local maintainence & ended up in Vermont & purchased 2 STRs there. Just wondering the demand for large SFH in the area ? if you happen to know a good realtor in the area would love to speak to !

looking to invest in the ADK area , open to collaborate and invest around the Lake Placid- NY area? 

Post: Airbnb's Future into 2023

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
Quote from @Zachary Brown:

Wow thanks for all the feedback folks! It's fantastic to see all the different angles of this discussion. One theme that seemed to ring throughout is that owners don't feel protected by Airbnb and may be looking elsewhere. That's helpful feedback for me to understand as a potential investor, so I appreciate it greatly. Thanks all! 


Its a love hate relationship - I have to admit -80% of my bread and butter of STR revenue ( 6 listings thus far ) come from Airbnb . Diversification helps a lot so my suggestion is go with a open mind & not existing bias which some of us ( including mine ) have . Good luck !

Post: Airbnb's Future into 2023

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
Quote from @Lauren Kormylo:
Quote from @Gururaj Iyer:
this is the age and time of technology and companies who manage data well , VRBO is terribly lacking in the technology space and they were lucky that Airbnb is acting like utter douches with their guest centric policies . I personally do like VRBO but it’s crazy the pace at which they need to catch up with Airbnb . 13 app crashes in 6 months and their “boost” feature is an utter failure ! 





 They do have a lot of problems, but so far it hasn't impacted me (that I know of).  But I do hope they get up to speed on technology.


 I agree ! the last thing we need in this space is monopoly by one company, Chesky and folks have been absolutely deaf to home owners and I hope Booking.com & VRBO pick up . 

Post: Airbnb's Future into 2023

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
this is the age and time of technology and companies who manage data well , VRBO is terribly lacking in the technology space and they were lucky that Airbnb is acting like utter douches with their guest centric policies . I personally do like VRBO but it’s crazy the pace at which they need to catch up with Airbnb . 13 app crashes in 6 months and their “boost” feature is an utter failure ! 


Quote from @Lauren Kormylo:

I agree that your host should have told you upfront about all of those fees.  Those are excessive.  It sounds like they've been burned before.  And at the low price of $150 a night for a 3 bedroom, there isn't much profit to cover damages.  Airbnb doesn't allow hosts to charge you a security deposit, unlike VRBO.  They also don't allow you to have a minimum age requirement for guests, unlike VRBO, to keep out the younger partiers.
VRBO is the OG in this space, and is now doing more advertising to combat Airbnb's market share.

Airbnb is a horribly run company.  They allow scammers and criminals as guests, which causes hosts to have outrageous fees like you cited above.  Airbnb won't protect hosts, so they've got to do it themselves.  And all it takes is a guest trying to get a refund by lying about a camera or bugs, and all of a host's rentals are frozen for weeks, and Airbnb won't even tell the host why.  So unprofessional.  They are causing more hosts to also have a direct booking site, which they can push repeat guests to.

As far as pushing people completely back to hotels, nope.  For 1-3 night stays, hotels may work out cheaper.  But for longer stays, or larger families, they can't beat renting a house and having all bedrooms under one roof, with a communal living room and kitchen where everyone can congregate.  Contrast that to a family staying in 2 or more hotel rooms.  Do you want to hang out in the other person's hotel room and watch TV?  Or have to eat out all meals?

In true vacation markets, VRBO and Airbnb are not the first to do this concept.  Real estate companies and direct-by-owner rentals have been done for 100 years, and they continue today.  I booked a beach vacation this summer through a real estate company in that market, for less than what was available on either VRBO or Airbnb.  I did have to sign a contract by email, listing all occupants.  And pay a deposit or damage protection fee.  So don't think Airbnb is the entire market, it's not by a long shot.


Post: Airbnb's Future into 2023

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33

Its a very niche asset class for sure , folks who treat it to purely use real estate aspects & not chose to be inclusive of hospitality traits - will fall back.  Lack of creativity and over-saturation in certain markets will also lead to a lot of inexperienced folks opting out. It will be a tight year for sure however its not all doom and losses .  The example you cited above is clearly an inexperienced operator and I dont think thats a right approach to be so intrusive. 

A lot of experienced operators will also move to have direct bookings expanded to avoid the pitfalls which Airbnb has . 

thanks ! will definitely read up ! I did attend a couple of seminars from Anderson Associates, the idea definitely piqued my interest last year.. was undergoing a heavy purchase at the time and couldn't follow through but the concept was similar ..each property having its own LLC and rolling up to a Parent. The trick being that it be registered in WY or Nevada which apparently offer anonymity. In the STR space after hosting 600-700 groups over the last 5 years - have definitely have had my share of moments where have lost my sleep , just need to safeguard the investments before expanding any further

Quote from @Nicole Heasley Beitenman:

Local meetups are the best place to get referrals!


 I agree ! I guess they would be too busy this time of the year :)