All Forum Posts by: Marcus R.

Got it, all the thoughts above make sense.

@Aaron Breckenridge - Is it possible to add the annual votes, rolling 12 month votes, or all time votes to the stats?  And/or is it possible to add the ratio to the stats?

What I'm getting at is there's some seriously great legit guru level folks in this community and a few of them are on this thread.  One thing that might help this community grow is highlighting this some more.  I just can't think of another easily accessible community where you're seriously able to ask a question and have Tim Cook or Jeff Bezos respond and provide business guidance.  I utilize books, podcasts, YouTube, etc...but almost always the answer/education is also here in one of the forums from the top contributors.  

Always do your own research, but we'd all be a little better off if we listen to advice from those that walked the path before us. 

If you intend on coming back I'd rent as a medium term rental.  You can collect a little extra in the form of a security deposit for excessive furniture damage and you also earn a little more in rent as well. 

Even high end furniture has a 5-7 year lifecycle before it's no longer high end and the style is approaching becoming outdated.  You used the furniture for 1 year already so it's now 4-6, 1 year of renting and it's now 3-5.  I say all that to say, you're probably closer than you think to the furniture no longer being "high end" so don't overvalue the furniture in your options. 

There's a few standouts on BP that have contributed tremendously to myself and the community.

Does BP track yearly up votes?  It would be awesome to see an annual MVP or contributor of the year handed out to those that contribute the most.  Maybe there's another mechanism that could be used to determine the value provided (other than a vote as I think that would get mess).  It wouldn't make up for the true value the heavy hitters provide but I think it would be a small gesture that would let them know they're appreciated.

To those that share their knowledge, THANK YOU!  It's mind blowing to me.  You have the opportunity to hear from those that have done it before you and that are some of the best in this biz.  This is the equivalent of hearing from successful startup founders or fortune 500 CEOs, this line of communication simply doesn't exist elsewhere and I'm very appreciative that it exists here.  

Just a thought but see if you can find the next STR market. If you can't find the next STR market, see if you can find the next STR experience.

Just making this up but an example of this would be a beer themed STR in a great brewery city. Or a sports themed STR for a popular team (Ex: Dallas Cowboys). Airbnb often promotes a ton of unique homes or experiences. From here promote and advertise your STR to draw attention to your unique location or experience.

Another vote for ceiling fans.  Tenants will appreciate them, better for the environment, better marketability. 

With some of these small features I recommend associating them with the value they provide vs just listing them.  Instead of "ceiling fan" in the description highlight "the cool breeze provided by the energy efficient ceiling fan creates the perfect temperature for getting a good night's rest".  No different than a restaurant making a cheap hamburger sound like 3 star michelin recipe 

Realistic advice: I agree with @Jaron Walling parlay the $10K into a bigger shovel.

Unrealistic advice: Maintain the biggest shovel you can, drop your expenses to $0, invest the difference...Sleep in your car/shower at the gym, sell everything, geo-arbitrage, sell plasma, sign-up for paid experimental trials, etc...

Overall, I think you'd be better growing that $10K to let's say $500K in 5 years and moving to a cheaper part of the country or a cheaper country.  In many places $500K can provide the same purchasing power of $1M in Seattle

@Cody L. - Same here with folks that seem to never follow up.  I'll reply and ask to talk more to see if we can work something out and usually never hear back.  One of my units was a successful Airbnb that hit the market due to the changing Denver laws so I'm usually open to discussing arbitrage options on that property. 

Agree with others.  

I've been in this position before.  A couple good things come from this: you're wiser and will collect holding money going forward and you won't force a tenant to move-in because of the lease.  In the long run having a tenant in a place that doesn't want to be there will probably cause more harm than good...Ex: When unhappy employees are forced to stay at a company...

I'd shorten as suggested and include the value to the owner as their mind will quickly go to the pitfalls of this strategy.  I'm indifferent towards the strategy but would be open if approached.  I've entertained in the past but usually the person bails and stops communicating during the process.  They'll likely have follow up questions about who handles maintenance, larger SD, etc... so be prepared to quickly answer these.

Value to mention:

- Professionally cleaned property after each stay and exterior upkeep

- Staged photos that you can share with the owner for marketing purposes

- Capex coverage up to $XX,000 (might need to include in SD)

- Extra $XXX per month (likely may need to pay a little extra in rent to make it worthwhile, otherwise they can collect the same amount as LTR)

Also, google "Airbnb apartments" or check their website.  I've hosted before so I get some of their emails.  A few months ago I recall seeing a new email about Airbnb partnering with apartments in select cities where the apartments and city already pre-approved the ability to short term rent.

Damn, these are some really great answers!  Lot of knowledge just on this first page.

I'd say not gathering qoutes and options from several lenders and insurance companies.  Occassionally I see folks choose a lender since they bank with them and the main reason they're a customer is that was the closest bank in their hometown.