All Forum Posts by: Jack Montague

Hey All, I just wanted to introduce myself to the BP community. While I've been listening to the podcasts for a couple years now and have helped my dad find investment deals, I have also decided to get my real estate license and help other investors find their ideal properties. I am from the area and have lived here for 20 years. I know greater Nashville really well and am excited to start my own business for real estate sales. 

I'm looking to grow my network through this community and help any investor that is looking to grow their portfolio. I want to help in anyway, whether that is finding your next investment through the MLS, answering any questions dealing with the real estate market, helping find contractors, vendors, etc.

Please don't hesitate to reach out.

- Jack Montague

@Blair Russell @James Carlson I appreciate the responses.

So say I am buying a property that is being rented as an airbnb and this property has bookings from now until the end of September. If I want to take ownership and management over the property on the day of closing, I should have a new property page on airbnb with me as the new 'manager/owner' of the property. But can I get an airbnb license to rent the property before I own it? 

So in essence, I would want to be able to have a smooth transition so I can reap all the rentals when the property is now owned by me, but is it possible to go through the licensing phase before I own the property? 

Also, any useful tips in owning and purchasing an airbnb property? I don't know if anyone here has had any experience in buying properties that are already used as airbnb's and figuring out the price of the property based on income, but it is a very enticing place that has great returns, just feel suspicious about basing my purchase price on the income of a property through airbnb. Would speaking with a real estate attorney help with answering questions about airbnb? Also heard it may be good to contact the city zoning and codes department, any thoughts on that?

Thanks so much.

Does anyone know about the transfers of airbnb's for new ownership of a home?

Does the new owner need to have own airbnb license or does the license transfer to new owner?

If the property was already being used as an airbnb, does the new host need to create a new host profile, or does the original just change ownership?  And if so, I'm guessing the reviews and ratings are gone with new host/property profile...?

How do the funds transfer on closing of the property with already booked stays?

What are the positives and negatives to purchasing a property that is doing well with renting as an airbnb currently?

- Thanks