All Forum Posts by: John Fleming

 Tanner, I would be interested. 

Hi, I'll be down to NOLA early May (from Philly) and wanted to see a few places as potential buy & hold opportunities. I am looking for properties along the St. Charles line, garden district, up in the Marigny / south 7th ward, etc. Areas that would be good airbnb properties for short-term rentals... but have good potential to eventually be longer-term buy and hold units.

I typically like 2/1, 800+ sq ft, but would be open to seeing 1/1. I am not a fan of condos, but am open to the discussion. Looking for units ~100k - 130k, but again, am open to discussion.

I have some real estate contacts in Philly and Bmore, but no one in New Orleans yet. Wondering if anyone here has some names they'd be willing to share? 

john

Cozy.co is great... and my tenants love it. They can't really be late and there is nothing to it. My tenants are, typically, class A tenants though... medical students, law students, etc. So maybe I am just spoiled by that.  

Kwikset 910 with Zwave. I got my last one for $100 on Amazon. I use VeraLite home controllers, which uses Zwave for connectivity. I can control the lock from my android, computer, etc. I also could (do not yet) have controllers on the thermostat, lights, etc. I am using this not only for airbnb, but also for a rental that is about 1.5 hours away from me in Baltimore... where I have two long-term tenants, but also a room that is used for short-term rentals. Never need to worry about someone getting locked out again if the door access code is the last four of their SSN or the last four of their cell phone number... 

I agree - one of my properties has hosted 35 airbnb guests in the past 6 months, and my neighbors (south philly rowhome, so attached, 16, 32, and 48 feet away, didn't know it was on airbnb until I told them. Airbnb renters are not what people might expect. As I have told many people - I often get the house returned to me cleaner then I left it for the renter. 

john

@Lee L. 

I discussed with my insurance people and they explained that there is nothing specific that is offered. They said best thing would be a standard fire policy, and then an umbrella. For the price of these, it just made sense to get. I confirmed with my attorney and he was completely comfortable with the umbrella for this. 

I use:

Michele M. Woodrow
Austin R. Morris Associates, Inc.

Wish I could get there. Monday nights are bad. 

Sean, this numbers sound amazing. 

I think it just really depends on your location and the market you are after. I rent to medical residents, and they are after furnished. The place is less than a half mile from the hospital where they work, and as residents they are really just sleeping there a few hours a night, then going back to work. I try to make the whole process as easy for them as possible... and have had great success thus far. 

@Charles McGuire - I list my place on airbnb... and have done fairly well. I am in a good area of Philadelphia, near Pat's & Geno's, and usually get anywhere from $2k to $3k per month, with about 15-20 days of rents. 

It really depends on your area, and the reviews that you have... but it seems you can do well. 

I also use airbnb when I travel... and love it.