All Forum Posts by: Keith Mintz

We manage mostly, we own only 7 of the units. So scaling would be different for our business than to buy. But if you're looking to buy, creative financing, running the right numbers, and executing fast is key to scaling fast. Are you searching for more STR property?

 Quality furniture, Amenities, & Unique theme/design has done well. 

Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

I am a real estate agent and investor in Southern California. We manage over 100 client properties, almost all of which are furnished STR.

Nothing is off limits. Ask me anything and I will do my best to provide helpful insight.

 Hi Alex, I can help, I sent you a message!

 Hey Michael,

According to Airbnb.com/aircover

Host damage protection covers you for:

• Damage to your home, furnishings, valuables, or belongings caused by guests (or their invitees)

Of course acts of G-d are not covered, but if a guest starts a fire, it is covered. 

Escondido is a pretty good area for STR for the most part. Abnb has insurance coverage. To maximize rental income, set up a good furnished rental, add as many amenities as you can, see what others are renting their home for as STR in the area, and if you're moving, it might be best to hire a manager.

If you have an HOA, that can be an issue, make sure to read their CC&A to see restrictions on minimum lease lengths.

There are many things that you can look for depending on your criteria. If you're planning to do quick flips, you want to generally use the 70/30 rule. 

According to this rule, the total purchase and renovation costs of the property should not exceed 70% of the anticipated after-repair value (ARV) of the house, leaving a 30% profit margin.

Here's how the 70/30 rule is applied:

1. After-Repair Value (ARV): Estimate the potential selling price of the property after all the necessary renovations and repairs have been completed. This estimation is typically based on comparable sales in the area.
2. Total Costs: Calculate the total costs involved in acquiring the property and completing the renovations. This includes the purchase price, closing costs, renovation expenses, financing costs, holding costs, and any other associated expenses.
3. Applying the 70/30 Rule: Ensure that the total costs of the project do not exceed 70% of the estimated ARV. The remaining 30% represents the desired profit margin.

For example, if the ARV of a property is estimated at $300,000, the total costs of acquisition and renovation should ideally not exceed $210,000 (70% of $300,000). This would leave a profit margin of $90,000 (30% of $300,000).

About $5k-$10k depending on how nice you make it. I have gotten a 2500sqft house furnished for 5k.