All Forum Posts by: Jimmy Woodard

Why would the bank need to know you're working with an investor? If they're a silent partner and transfer funds to your account, I don't see why you can't have just your name on the loan. Maybe I'm missing something here...

Airdna and Rabbu to analyze, Wheelhouse to price. I prefer "toys" to subjective guesswork any day of the week, but make sure to do your own research into the competition as well. A tool can only take you so far.

Agreed. If you find that service send it my way!

@Mike Hern glad I can help!

@Gururaj Iyer I just came across them recently after the same error issues with Airdna you mentioned. We’re almost ready to go live with a property in Miami, so I’ll have an answer for you in a year :)

@Nick Portillo I would recommend checking out BNB Formula as well. Great resource that helped me start my company on the right foot. Even though it's focused on rental arbitrage (rent from landlord and list on airbnb), most of the advice is still applicable if you're looking to own your own property.

I'm also happy to help as well. DM me if you have any questions!

I agree with everyone on 20% CoCR. A quick way to estimate topline revenue for a specific property would be to use a tool like Airdna or Rabbu, then you can run a full pro forma from there.

Easy way to do it @Kyler J Sloan is set up a google alert for "airbnb short-term rental bill regulations [city]." Typically any changes will be reported in local newspapers as airbnb is a hot topic these days. Airbnb also sends out updates if you're a host in a particular city, as they're incentivized to stay on top of updates as well. Beyond that, you can always set a reminder to call the county every year before you renew your permit to see if any laws have changed.

@Keleisha Carter Here's another resource you can check out. If you have a specific city in mind, Airdna and Rabbu have 2 great tools you can use to estimate a property's potential revenue based on comps in the area. DM me if you have any other questions I can help with!

I'm not too sure what you can do for this property. For future reference I would work with lenders that specialize in mortgages for LLCs with short-term rentals. 2 that come to mind are Conventus and Visio. Hope this helps!