All Forum Posts by: Jon Martin

I thought the same thing. Start your own company with a % based model that way you get a piece of the action and succeed in step with your clients. Win/win

IMO the baseline level of clean, functionality  and communication from cleaner to the host should be the same no matter where the property is.

If additional differentiation is needed because of competition it should be in the comfort, amenities and finishes. 

Big thanks @Nate Meeker that is super helpful! 

Another vote for Zinus. I did the 12" Ultra cool gels. Several dozen guests, lots of compliments and no complaints. Seems like a happy medium between firm and soft. 

Plus they arrive at your door in a box so set up is super easy. 

I don’t doubt that, 18 years is 18 years . . . although it does show that the high value competitively priced infrastructure is likely to already be in place. 

No experience on the acquisition side but I was there as a tourist in 2005. Even back then there were a lot of high rise hotels where you could get a decent condo-style room with hot water, cable tv etc for really cheap ($15-20USD/night). Seems like it could be hard to compete with that, you would really have to make it stand out if you want to justify a higher price. 

Next week I am planning to do some extensive year end cost analysis on my expenses so I can figure out how much is going towards cleaners, toilet paper, coffee, misc expenses etc. Can I count those hours as Material Participation? 

To be clear, this would be for an STR where the goal is to show an active loss (with cost seg/Bonus Depreciation) against W2 income. Thank you

Whether or not a unit is seller financed is irrelevant in regards to STR regulations. STR regs are set by the county and/or city first and foremost and apply to all properties within that jurisdiction. HOAs can also restrict them at any time with no recourse for the property owner beyond joining the HOA themselves and attempting to change the rules.

Are you saying that the HOA is $4K monthly or annually? A $3100/month mortgage in Santa Monica with an ocean view sounds like if you mean annually but if you mean monthly, no thanks.

How many points?

Occupancy requirement?

This. To expand on this for the OP, new construction typically has a single great room that combines the living/family, dining room and kitchen, therefore not a lot of space to add new bedrooms. Whereas mid/late century homes often had a family room, living room, formal dining room etc and in some cases very generous dimensions. Much easier to create new bedrooms out of existing floor space with old construction, which is especially important for STR. Also tend to be on larger lots closer to amenities, while new construction tends to be further out and on smaller lots.

Lately I have seen some nice new homes built within existing neighborhoods that has more bedrooms and bonus spaces, however they are priced accordingly and tend to be significantly higher than the value of the surrounding homes.