All Forum Posts by: Jeremy W.

 This is insightful for people getting started! Thank you @Erin Spradlin. It seems like a lot of the guest booking process comes down to Airbnb's algorithm. And smartpricing being a piece of that. Cheers!

Good points, everyone. Instant booking is a matter of vetting and filtering. You can initially vet guests through the "story" your listing tells. 

Are you trying to sell to weekend warriors or to the casual business traveler? Who is your ideal guest? 

The copywriting is important and should serve as an emotional driver and a filter. The pictures can also help serve this purpose too. Cheers -J

 Hi @Sergey Chicago limits you to one unit per building if you do not live in the building. You can send in a notice to the commissioner who can then overrule the current Chicago short-term ordinance laws and allow you to rent out the whole building. This is risky, unless you have political ties with the city, but has been done (as in Syed's case). 

 Hi Ted,

Yes! Chicago Airbnb Consulting (www.chicagoairbnbconsulting.com) is great! Their model is based off of a vacation-rental system in Colorado that has been around for years. They just recently transitioned into Chicago thanks to some long-time real estate professionals who liked the model. 

Their "consulting/management fee" is lower fee than any other firm and they have more experience than any other firm around!

Cheers -

Jeremy

This has been done in Chicago, and it doesn’t seem to have slowed the market. The “people” will get what they want one way or another. Not only are Airbnb’s often cheaper, they create a more local feel and experience of the city.

One important facet of Chicago's ordinance was not only the tax revenue, but a central place for people, buildings, and guests to be registered and tracked. This way, before getting their hands dirty, every tenant can understand the law when discussing with the Landlord or HOA.

Residential PUD (7 acres) for SFH development in Merrillville, Indiana

Plans and zoning permits are complete, but former owners went bankrupt in the bust and taxes have been purchased to begin building again. 47 more homes can be built, per the existing plan. 

UPDATE: The Landlord has brought the price down to $699k based on a verbal offer from another client. Bumps the cap rate up to 11.2%. Hoping to find an investor or partner or client !

I agree @Patti Robertson

@Jeremy Jackson love that idea! And I think it is feasible with current security / management tech. The prorperty is in a big city but not a major metro city so I would be worried about occupancy. 

Thank you guys!

Recently taken off market, broker called me and told me price is reduced from $1.5m to $800k because owner is retiring, in a great location close to public transit in the near South Loop (right off the Sox-35th redline / Brozeville-IIT green line stop). 

$78,513 NOI, 9.8% cap rate, huge upside with oversized lot

2 retail spaces, 6 studios (1 vacant), 1 2-bed, 2 3-beds, 2 coach homes, and an oversized lot

Looking for a money partner. 80/20. Will re-invest commission into the deal.

A friend of mine is selling a mixed-use building in the suburbs of Chicago. 

It is an interesting case because it is TRULY mixed use right now. Retail on the ground, apartments on 2 floors, and a "ballroom" on the last floor. 

The question for you creative investors is...what is the highest value conversion we can do with the ballroom? The obvious answer would be to convert it to more apartments, but are there any better options? 

Looking for the best creative and financial-return ideas.  Thank you!