All Forum Posts by: Account Closed

Thank you for the responses.

@Lynnette E. I haven't thought about the rent-to-own option before. I need to look more into that as paying monthly can accumulate to an overall cost than an upfront fee. But it does give some flexibility. 

@Julian Sage I mixed up refurbished and pre-furnished property for some reason. I am looking into this. If I can reuse furniture in between after a long term lease then I can feel more comfortable buying the furniture upfront. 

@Patricia Taveras I have already purchased the bed frames, and don't want used mattresses, yard sales looks promising. I looked into Marketplace for the bed frames but those ended up similar prices as Amazon's, plus I prefer free shipment than having to pick them up. STR can be very promising in my area, I guess time will tell.

So far, I may be buying the furniture (moderate price and some second hand) keeping my fingers crossed for pre-furnished lease.

I am in a confusing situation now and need some help from experienced individuals. I bought my first investment property which is located near two universities. My primary targets are university students with long term lease, however, with COVID and less demand in student housing, I wanted to try out Airbnb which is also growing in the area. Basically, to gauge the market a bit more, I want to try out both Airbnb and long term lease. I am at the very initial stage of buying furniture for the rooms now. But what’s bothering me is that for Airbnb I have to go all-in and buy bed frames, mattress, desk, carpet and make it look shiny. But next year, when school reopens, I wanna shift to student housing. But all these furnitures will be useless then. Especially if the students want the rooms emptied out. I will have to dump all in the basement for later use. I am not sure whether students prefer pre-decorated property (i.e. existing bed frames, mattresses, desk, lamp, carpet, so on) or would rather bring their own. If I am going for mattresses that last for 5 to 6 years at the least, with yearly lease I will have to use those same mattresses for 3 or 4 students! Will they feel okay with that? I wanna invest on good mattress protectors and change that per tenant, but I can definitely see tenants buying their own mattresses and even frames. My property has laminate flooring and I would rather have the heavy furniture in place than having each tenant drag those around and scratch or break the surface. I can limit Airbnb in a certain parts of the property to avoid wasting money buying furniture. But I just don’t know the rules and regulations and market demand on pre-decorated property for tenants and given that how to approach buying furniture for now.

Thanks in advance for your input on this.