All Forum Posts by: Jake Knight

Got a nice little slice of the pie carved our for yourself! @Paul Sandhu

I am also buying an out-of-area property that I will furnish, but for a different clientele (business travelers and people who are relocating). Figuring out the demand is tough but you can do a few things to lessen the unknown. You can inquire with the other houses to see if they have room for you (posing as a potential guest), post a ghost ad (something I just learned yesterday), and call major employers and or property managers, though in your case it is the military so they may not use property managers and you'd have to call the base. This is worth it if you're putting all your eggs in their basket.

I think you could probably reduce the amount you're spending on furnishings. Shouldn't be more than $15k, even with that many BDs.

You have found a niche in the market that has potential to be very profitable. But make sure you have a plan B; an exit plan just in case your single source of renters changes for any reason (a la military budget). Having a high concentration of clients from one source is always risky. Be ready and able to convert/exit if needed.

Excellent work! I love that you had a vision for that junky little house and executed it. The Doodle Inn shows very well in pictures and even better, has pretty good cash flow. 

@Bob H. forgot to tag you.

@Blair Russell is right. There are multiple ways of marketing the property, including Airbnb or free platforms such as FB or Craigslist. But there are also sites that focus more on this demographic such CHBO. I have spoken with 2 of the 3 primary employers in the first city I am going into. One contracts out their housing needs but said that sometimes visiting execs look on their own. The other is a large university that has it's own listing site which private owners can list on (for cheap). I haven't had many issues with reaching the right people (I've spoken with employers in other cities as well). When you find the person you are looking for, just say that you may be able to help them and their employees, or ask if they have a list of housing options they provide staff.

I am working with an agent to buy the right property/s- out of state. Been looking at a few markets to determine feasibility, but it will primarily be used for corporate/relocation renting as opposed to strictly vacation. I will leverage airbnb as needed though. @Andrew Wong

I am looking to bring a few properties online in the next 6 months and am projecting over 20% returns... after year 1. Just as @Michael Greenberg discussed, I am buying properties that have been updated nicely and I will be spending money on furniture. I'll be pricing lower early on in order to gain traction.

All good. Wasn't trying to be a jerk, just seemed a good idea to mention you represent one of the companies in your discussion. 

You work for Homesuite, right? Would probably be important to disclose that when making statements like this.