All Forum Posts by: Jeremy W.

@Sam Amir

Cheers! Welcome!

Hi Phil, it seems like Airbnb may be a feasible option for your basement/garden unit. 

• Being owner-occupied, makes you compliant with the city. 
• If it is it's own private entrance and private space with bathroom/kitchen, you can list it as an entire apartment. 
• The closer you are to the Blue line, the better you are because many business travelers who stay at Airbnbs in Jefferson Park are coming from O'hare

The risks you have are the initial upfront costs of renovation and furnishing the unit. Also, if you market it poorly, gives guests a poor experience, or price it poorly, you will likely not get the returns you are looking for. Otherwise, it is worth an experiment with the unit as the airbnb market continues to grow in Chicago.

If you have any more specific concerns or questions, you can pm me. Cheers! 

Great thread! Thank you @Weston Harding

My goal is to grow our Airbnb property management company and build long-term relationships with serious investors, developers, and brokers.

Across Breck, Aspen, Vail, and Chicago, we are at 75+ and I'd like to get that to 150 units by end of year. With that, we hope to make single family owner clients, alongside our investor+developer clients, great cash flow returns using Airbnb! The market helped our clients make 40.1%-103% more compared to standard leases, and we'd like to continue to push these upwards! 

Hi Rod, how are you? Alan Sanchez is great and cheap. I got a new number so pm me and I'll send you his contact info. Cheers -J

40% (maybe more) of users on Airbnb are business travelers so anything close to the airport is convenient for them. For any airbnb, it depends on the intrinsic property (layout, light, amenities, vibe) and how well you market it. Hope this helps. Cheers. 

@Sam Amir

Hi @Mark Ainley. Where are you looking to invest? We may be able to help. PM me. Cheers -Jeremy

Hi @Joey Nakayama. Good thread.

Other channels for advertising always makes sense! Brokers, Zillow, Craigslist. SIGNS actually work :) This group has it down...Keep in mind: Lowering your rent, lowers the value of your building (from a $ flow standpoint).

I agree with Syeed. If you do Airbnb, you can generate moderate revenue during the Winter months. It is slower than in Summer time, but the numbers say that the profit margin is upwards of 40.1% compared to a yearly lease. The location is not ideal, but can make sense for business travelers who want to be close to O'Hare. 

The challenge is 1) figuring out furnishing, 2) getting the unit on the market quickly and 3) making it city compliant. Happy to help. We manage 75+ airbnbs in Breckenridge, Aspen, and Chicago.

Nice, Is anyone running a turn-key airbnb property management company in Milwaukee? Seems like Milwaukee is a great market to fill vacancies and increase returns on a short-term, especially during Summertime with the Lake! 

Thank you @Rebecca Knox and @Nicole Valenzuela :)

PS If anyone in Milwaukee knows the Brickman family (the youngest son is a friend), let's connect!