All Forum Posts by: Kwanza Price

Hey Mike, I’m a broker and investor here in Sacramento, and I manage over 100 properties on Airbnb for investors.

The Sacramento market is very stable, we do a lot of midterm business, but we like to mix it with short term in order to maximize cash flow and limit gaps between bookings, or “orphan days.“ 

When can we see the project? Sounds beautiful.

Knowing more about the area, it sounds like you'll have an ideal avatar of wealthy, young and trendy professionals that aren't ready for or looking for a home to own. This demographic is projected to keep increasing over time, so I would do whatever you can to hold onto this property (ie cash flow well).

Furnishing 700 sqft with PB or West Elm (you and my wife would get along great, Bonnie) won't be price-prohibitive and well worth the cost. After assembling a lot of bed frames, I prefer the Zinus brand, and I would recommend contract grade furniture.

Don't forget to sign up for pest control and both a renter's and landlord policy on your insurance.

Hey @Kwanza Price. Like others have said, you don't need an LLC to get started with STRs.

If you own a single unit or even 2 or 3, simply make sure you have the best insurance to cover any issues as well as an umbrella that can cover any excesses.

Plus the major key will be maintenance. Keep up on any thing that crops up that needs repair. Even little things like a loose outlet.

If you have decks and stairs, they need to be perfect. No loose boards, popped screws, solid railings.

Don't put it off for even a day to get them repaired.

This is an interesting thread.  I do not have any relationship with them but do know they seem to be extremely knowledgeable.  One thing that stuck out here is the navigation and coordination of legal/asset protection and CPA/Tax services.  Our firm decided to integrate the two a few years back because of the constant push/pull and inconsistent advice between the two services...thus, we determined finding a strategic legal/asset protection partner, versed in our tax planning, was the correct route to go for our clientele. 

If you do the consultation, you want to be clear on which entities are Operating Entities and which are Holding Entities. And which manager managed vs member managed and what agreements needed between the entities and who provides and maintains. It's a big fuzzy hot mess.