All Forum Posts by: Michael Baum

Hey @Jacob Morgenstern, I would list it on Furnished Finder only and forgo AirBNB.

Of course this depends on the area. @Carolyn Fullers places are near major schools which will draw a ton of longer stay visitors.

Does your place have that kind of location?

Really cool. @Collin Hays, do you find it harder to fill mid-week dates?

I have seen that larger units seem to draw longer stays vs smaller units. You get the 3 days weekends and the rest is empty.

Yeah, I agree, once again, with @John Underwood.

I think there is too much risk having one available to guests. Yes it will most likely bring in a few more bookings as a cool amenity. Until someone drinks too much and crashes it into a group of people or rolls it breaking their back.

Then any and all profits are gone in an instant.

I strongly believe that no waiver, no matter how it is worded will protect you from a major lawsuit. I just don't trust people to take responsibility for their mistakes.

Plus if someone hits a group of people, they might not be covered under the waiver.

I would get with an attorney and run all scenarios to see what they say.

Yeah, I have to agree with @John Underwood an others. Balloon framing wasn't used in every house or in all areas.

If a 1950's home is property renovated and upgraded, it is just as good and often better than any modern built home.

Existing balloon framed homes can often be upgraded and reinforced. Yes there is expense but it can often be cheaper than knocking it down and starting over.

Hey @Kalen Adamson, I have always been on the fence with this idea. It sounds cool but how will it perform?

Frankly I would leave the tipi's and go with yurts instead. I am not very familiar with tipi's overall. How weather proof are they in the long run? How warm will they be in the winter? Being from Idaho and spending a ton of time in Montana, you know it gets really cold there in the winter.

Yurts are designed for more 3-4 season use. They can be made really weather proof as well as insulated. 

I grew up in rural north Idaho right near the CdA Indian reservation and my mom worked for the tribe. I had a number of native friends and I learned the basics of tipi building. Especially after learning how to tan and preserve hides. They are really interesting and I can see them being an attraction but I would make sure they will hold up.

Hey @Rob Cassagne, I have found AirDNA to be pretty optimistic.

I will say it is going to depend on the area. Places with more STRs will provide a more accurate report based on numbers.

One with fewer STRs will force the algorithm to pull data from outside your exact filters. At least that is the way it appears to work.

I agree with everyone that stated you need to use the enemy method in order to get the most clear picture.

Hehe, I can check but it is a multi million dollar fund. I would guess much larger than what you are planning. I am not sure they will give out that info. 

This is a more complex type of setup than most of us are used to @Brian H.

One thing I will say is that existing real estate funds like this have higher returns.

One I know of here provides 9% minimum return and is averaging 16% since inception.

You know it's not a loophole right @Mohamed Youssef?

It is just the law. It is working as intended.