All Forum Posts by: Jimmy Woodard

@Lorenzo Prieto if you find an area that has favorable regulations, the next step I'd recommend is going on sites like Airdna, Rabbu, and Airbnb to figure out what revenue estimates to expect and also what renovations you can make to stand out from the crowd. You can certainly buy an Airbnb property with just 10% down for a second home loan, you'll just have to check with your lender to see what are the requirements for how many times you have to stay in the property for the year. Good luck and DM me if you have any other questions!

@MELANIE FELICIANO I’d recommend Levi from the Short Term Shop, but this specific property was an off-market deal.

@John Underwood the question isn’t the hot tub, we’re going to get one either way. It’s what to do with the loft, turn it into a 4th bedroom or leave as is and convert to an entertainment room

Closing on a property in the Smoky Mountains and my business partner and I are trying to decide what to do with it before we list on Airbnb.

There’s a loft on the second floor and we’re deciding between converting it to a 4th bedroom, or turning it into an entertainment room with pool table, projector, movie chairs, etc.

Do you think we'll make more money as a 3 bedroom STR with a hot tub and entertainment room, or a 4 bedroom STR with a hot tub? Thanks for your feedback!

@Eric Bilderback I don't really care if it is virtue signaling, it's a step in the right direction. As someone who has personally dealt with discrimination on Airbnb's platform long before I became a host of my own STRs, it's really sad that we still even have to talk about race in 2022. But here we are, and as sure as Tuesday will always follow Monday, there will always be bad actors on every STR platform. I truly hope every STR host that posts on BP wouldn't discriminate against guests on the basis of race, but I'm not holding my breath...

@Tammy Nazari if you're looking to research the STR market in Houston, check out sites like Rabbu and Airdna. A good rule of thumb is that if you can find purchase:revenue ratio less than 7:1, it has potential to be a good STR investment depending on some other factors. Good luck and DM me if you have any questions!

@Alice Yu if you truly don't have the time to DIY, check out this company which can help: https://furnishr.com/

@Jimmy Johnson (great name btw) I responded in your other thread, but feel free to DM me if you want to talk shop.

There are opportunities in every market @Jimmy Johnson, you just have to know the regulations, renovations, and numbers to achieve at least 15% cash on cash return. Even beyond the markets you mentioned (Mammoth Lakes is not easy to get a permit FYI), here are others near you that have decent to favorable regulations supporting non-owner occupied STRs:

• Palm Springs
  Fullerton
  Huntington Beach
  Santa Barbara
  Joshua Tree
  Malibu
  Big Bear Lake
  Newport Beach

Feel free to DM me if you want to jump on a call and figure out the best bang for your buck. Good luck!

@Curtis Naugle it's your property, set the age limit you feel is appropriate. If you want to take this a step further, don't accept guests with 0 reviews, or have guests with 0 reviews sign a VHR agreement before stepping foot on your property.

There are many ways you can try to remedy these concerns, but if you don't want the headache at all then move on from this scenario. Good luck with whatever you choose!