All Forum Posts by: Jimmy Woodard

An LLC isn't necessary but certainly recommended to protect yourself.

Find a reliable cleaning crew and handyman, they are the lifeblood of your business.

Also look into pricing tools like Beyond Pricing and Wheelhouse (you’re leaving money on the table if you try to do it on your own).

Last but not least, research your competitors in the space. Make sure to offer amenities guests will expect, and amenities that separate you from the competition.

Good luck and feel free to DM me with any other questions!

Hey Phil, I don't know what your budget is but you should taste different things before committing to one path. Fix n Flip/wholesale will give you the quickest ROI, but also are time intensive and I know you mentioned you have an issue missing out on time with your kids.

BRRRR/buy and hold are the best for long-term wealth-building, but you won't become an overnight success story with either of these methods. At the end of the day you know your risk profile better than us, so pick an option you're most comfortable with trying (that won't end up in bankruptcy if it goes south) and as the saying goes, just do it. Good luck!

@Chris Holland make sure to check the zoning laws for wherever you’re looking to buy land. Not every city is favorable to Airbnb and you have to do that research upfront before you waste time and money.

Beyond that, success in Airbnb isn’t as simple as buying a house, listing it, and collecting cash flow. Location is important, but so are the amenities that you offer in your house. Do some research on the competitors in the area to see what they provide and what you can offer that separates you from the competition.

A solid cleaning crew and a reliable handyman are the lifeblood of your business, so spend time finding the right people for these roles.

Also look into pricing tools like beyond pricing or wheelhouse. You will be leaving money on the table if you try to figure out pricing on your own.

If you want to dive further on this topic, feel free to DM me. Good luck!

@Sheldon James Definitely pay for vacation rental insurance through any of the companies Josh suggested.

Depending on the city, check your local laws to see what you need to do. Some require you to register your business and obtain a permit.

The LLC isn't necessary but certainly recommended.

Find a reliable cleaning crew and handyman, they are the lifeblood of your business.

Also look into pricing tools like Beyond Pricing and Wheelhouse (you’re leaving money on the table if you try to do it on your own).

Last but not least, research your competitors in the space. Make sure to offer amenities guests will expect, and amenities that separate you from the competition.

Good luck and feel free to DM me with any other questions!.

Excited to launch our second Airbnb on Cloud Castles in Miami in the coming months. Just locked in a property and now it's time to find the local crew. Who do you recommend for a cleaning crew, handyman, and photographer? Thanks in advance!

@Punarvashu Tyagi the unincorporated area of Lake Tahoe is your best bet. That includes Meyers and follows Pioneer Trail all the way down to Black Bart. That area falls under the jurisdiction of El Dorado County which still has a limited amount of permits available.

@Joseph Diaz nice to e-meet you! I've invested in a STR in the Meyers area of Lake Tahoe through my company Cloud Castles. If you're a first-time investor happy to answer any questions you have. Otherwise it's great to connect.

Hello, does anyone have a successful self-run or property-managed Puerto Vallarta Airbnb? Would love to know what cleaner/handyman you use (preferably that speak English). Thanks in advance!

@John Warren Sad to say but the property is no longer in play. Next time I’ll make sure to come with more details to receive better responses. Thanks for the advice!

@Jonathan Klemm I’ll keep your service area in mind for future projects. And the $40k was an estimate, I won’t know for sure the actual rehab costs until I send someone out there.