All Forum Posts by: J. Martin

 Hi Diva,
It's a tricky situation. No, you can not have  lease or sublease in Oakland that ends and does not renew, unless you personally live in the property. If you share the space, there are different rules. But leaving some stuff in a room won't cut it.. You have to actually live there. 

I agree with Arlen that it is much more marketable to a shorter-term tenant, if it includes furniture. 

I also lease properties from other landlords, and can vacate the property at owner's request when they need to sell, as Arlen mentioned. Give me a call if you're interested in chatting about it. 

 I agree with Ethan to tell them outright that's what you're trying to do. So if they don't tell you something, they'll feel more obliged maybe. A couple other tips... 

In your review section, they rate various features, like accuracy of listing, cleanliness, location, value.. Look and see what the ratings are there. If it is location, that's pretty tough. If it's value, you can lower your price (I don't do that though - I just accept value is lower, as I'm in a very high-price area.) If the accuracy of listing, maybe the pictures look TOO amazing relative to the interior when they arrive (this can happen if you have a great photographer who is shooting it like a dream property.)

Someone else said to always exceed expectations. Maybe include something that wasn't mentioned in the listing. Or if the place looks better than the pictures (although that can ding marketing, but improve reaction relative to expectations.)

To be honest, I am not a superhost, largely because of value being rated low and resulting overall rating. But I refuse to lower prices to get better value reviews :-/

 I would say the reasons differ for different people. Sometimes it is cost. Sometimes it is group size (group shares 4 bedroom house and hangs out together in living room, instead of having to meet in lobby.) Amenities like a kitchen (usually for larger groups or longer stays.) A more "authentic" feel of living in a house somewhere, instead of same-artwork hotels. Some are cool spaces (like a loft, tiny home, tree house, desert home, etc.). On longer term stays, it is mostly the kitchen for us. And the traditional reason.. a local host who can show you interesting things (this is less and less common today.)

It's kind of like going to a local restaurant instead of a tried-and-true chain. The delivery and quality of the experience varies more. But sometimes you find something really great or interesting for taking that risk. 

I just booked a 6 bedroom house in Medellin, Colombia, so I can invite family and friends out to visit, then rent out the other rooms when available to test a co-living sublease model outside the country.  Totally different reason than the normal person.  But it's also because this is outside the white-washed western neighborhood where all the malls and hotels are at. There aren't really hotels in this part of town, but it's a cool, authentic Colombian neighborhood. So it's a different experience. Come visit and check it out! Maybe we can win you over on Airbnb's! (maybe not!) lol

I've been off of BP for a while, but wanted to give a renewed shout-out to @Chris Mason for his help going through my updated DTI calculation. He really knows the ins and outs of Sch E & C and how it flows into the lending calculation. Glad I talked to him early! If you're thinking about getting a loan or cash-out, talk to a lender sooner than later! And talk to your CPA about your finances and schedules. You might qualify for more than you thought, like me! :) I've known Chris for a few years through BP and my conference in Oakland. You've probably seen him around the forums providing information and disspelling lending myths. So listen up and give him a ring!

Thanks again Chris!

@RYder Meehan,

I'm still not back in CA yet, but back in the US, so maybe I can catch one in the second half of June :) 

I'm on BP so I can stay at @Brie Schmidt's house when I'm in Chicago! lol jk  there's more! (but super looking forward to staying, and your conference Brie :) 

Like Brie said, having the people to be able to call when you need expertise is huge. 
I wouldn't have partnered on a deal I still own in Oakland if I hadn't been on BP and networking. 
I wouldn't have been inspired by guys like @Al Williamson to get more serious about furnished rentals. 
I wouldn't have been able to grow my furnished rental business nearly as easily, without the relationships with other owners who rent me their apartments. 
And I wouldn't be traveling the world without a 9-5 job right now. 

So I can't be thankful enough to BP. 
On top of that, I have a lot of awesome friends I've met through BP, and had a chance to meet all the pros from the website. Many many thanks :)

 I think the issue here, Ethan, is that a bunch of us are doing 30+ day rentals. The pricing is different than typical short-term pricing models, and vacancy/timing of move-in matters a lot to me also.. 

I think that's the big challenge. 

Currently, my price syncing is a team of Filipinas :)

 Angelo, I agree regarding the cost of education. That can be a small cost. I posted on FB how I lost $55k last year on various business and investment-related mistakes I could have prevented. Mistakes are usually much more costly than education.. And lost revenue from not operating the right way can be a big chunk too.. 

Yes, I use VA's from the Philippines to manage my business. We have a lot of operating procedures, and they use that. I used to hire from upwork. But have been using outsourcely recently, because they have more people looking for long-term, permanent work, rather than gigs..

Speaking of seasonality from a few of you... I have had a $20K loss in one month (cash basis accounting) in our worst seasonal month. Which is more than made up for in the good season. But still.. That's a lot of money to swing back and forth!!!

 Jay, I just messaged you on FB, and will send you a text to your number also. 

 Michael, are you here in Chiang Mai right now?
We're going to a ladyboy cabaret show at the night bazaar with a group of digital nomads tonight! lol
Text me at the number in my profile if you're around. We're heading down to the islands for Feb..