All Forum Posts by: Jonathan Avellaneda

@Bruce Woodruff thanks! I'll check it out.

@Bruce Woodruff thanks Bruce. Is there a place to see how much people actually paid for those listings recently so i can get an idea? I know the pricing changes by the day so not sure looking forward is the complete picture.

@Alex S. You are correct that this is not a vacation destination rental. It's about 45 minutes outside of Seattle,WA.

What is the best way to crunch numbers to help me determine the Airbnb amounts I would be looking at? I think once I am able to do that and estimate furniture Costs I should be able to make a decision. Thanks for your input!

@William Beck thank you William. The setup is a little funky for upstairs/downstairs as the downstairs is a mother in law unit essentially so the place has 2 full kitchen as well.

I already have the numbers crunched for the LTR and what it would generate on that. The part i am clueless about and would probably appreciate your help is to figure out numbers for the different scenarios for the str portion.

@Dan Johnson thank you for the advice Dan i appreciate it. Any suggestions on where to buy furniture if i did the larger unit? I have been scouring the FB marketplace, dollar store, Ross type stores, and craigslist so far.

@Luke Carl neighbors live there. What do you mean big difference?

Hi BP!

I am under contract for my first rental property. It is a 4 bedroom 3 bath home that has 2 units. The top floor unit is a 3/2 and downstairs is a 1/1. Both units have full kitchens and are rent ready. The total square footage of the house is just under 3k.

My original plan was to LTR the top and do a STR for the bottom. Now i am second guessing myself and thinking maybe I should do the reverse? i am thinking the bigger unit would bring in more, but i don't know how to look into this.

I am new to STR and have not learned a lot about it so my concern is that if I go with the STR for the top and aren't able to rent it out consistently that I will be losing money on the deal because I will have to furnish the top, which is a lot, and will lose out on the larger chunk of the LTR rent for the home.

Any and all advice and suggestions would be appreciated! Also if i missed any details needed feel free to ask!

@Andrew Cummings great that you are considering investing. I am new as well and am under contract for my first rental right now.

First thing I would do is get books from the library and read a little. Obtain books from a few different strategies (flipping, BRRRR, STR, MultiFamily, etc) and see what peaks your interest the most. You can also listen to the podcasts about people that have gone through and done these strategies. Just go through and add them to a playlist and set it to autoplay.

Once you have figured out what strategy and goal you have in mind, take action. My first step was to go to a local meetup. This was the most inspiring and motivating thing for me because although I didn't actually catch all of the things people were talking about, I was able to feel the passion and excitement in the conversations. This is how you obtain a mentor. Just talk to people in the meetups and they will give you advice or info. Maintain the relationship and reach out after. Check in periodically and it will grow.

The meetup store to meet mentors is right here on BP! Setup a keyword search alert under the events and happenings section. I have done this and I don't have it really filtered so I just get email about the meetups from all over. This allows me to have a lot of opportunities to see who is hosting meetups and also to do virtual ones that peak my interest. I have found 3 local meetups that I didn't know about this way as well. I also have encountered very intelligent investors that I can reach out to on things they present in other groups.

Best of luck and feel free to reach out if you like!

@Josh Tschirgi I would lookup current tenant laws and consult an attorney. I believe they have recently changed and since Washington is heavily tenant friendly I heard that leases are being renewed automatically per law for the same amount of time and you are required to give notice 60 days in advance for an increase or a notice for them to move. I can't remember exactly what the date was, but I believe you needed to reach out by a certain date to essentially grandfather your lease in, but it required the tenant to sign again. I was at a presentation about all of this last month at a Meetup in Olympia so it has been a bit of time. I can refer you to the attorney that presented so just shoot me a note if you like.

 I'm just looking into making offers on short term rentals. If you are available i would love to pick your brain on the management piece. Thanks!