All Forum Posts by: Myka Artis

For something like that look into Kram Capital. If local is saying no you may have to just try different options.

@Craig Gerulski Yes. They can use the leases to see that the properties are cash flowing. The problem with Airbnb income is that all banks haven't got to the point of accepting it as rental income as of yet. I refinanced a property with New American Funding and they were fine with it but when I took that income to other lenders I was immediately limited. The new wave of short-term rentals being outside of typical vacation destinations is new to banks and not all of them are on board as of yet. If you already have rental arbitrages within that LLC then that's perfect because the LLC is already structured as corporate housing and will suffice as a lease.

@Bryant Payne I think you should get into rental arbitrage to start out and while you're doing that study the BRRRR strategy. This is a great way to get started in my opinion.

Pitching landlords is a little bit easier than pitching property managers. First things first make sure you have an LLC and website so you look legit.

Script:

Hello,

I'm Myka with Sharebnb and we are looking for housing for our clients with "xyz company". We have seen your house on Zillow and feel that it would be a good fit for our clients. Is there a time that I can schedule to meet you at the property?

Once you get the yes you need to close the deal in person. Stay away from the word Airbnb and if it does come up let the landlord know that Airbnb is just a small part of your business and you have direct clientele. If you don't have direct clientele then you need to work on getting it. Look into Furnished Finder, local companies that need housing in your area, or the easiest way get in contact with the housing department at your local hospital to get their traveling nurse contacts.

@Julie Sisnroy Here are the fees below.

Yourporter $7/mo per listing

Beyondpricing charges you 1% of the reservation fee so a large chunk of my listings use this because of the pricing flexibility

Slack is free

Turnoverbnb is subscription-based at $8/mo per listing

I'll have to check Pricelabs pricing structure.

As far as a tool that does it all I'm hearing Hostfully can do it all. I'm actually looking to get integrated with them shortly to give it a test run. I'll let you know how it goes.

There's a short-term rental refinance company called Kram capital you can look into them and they will allow that Airbnb income to be used to offset your DTI.

In the future lease your Airbnb properties to an LLC and let the LLC run the short-term rental operation. This then opens you up to multiple banks because they are now looking at leases instead of Airbnb income.

Good luck with your investing.

@Viviana Villegas you may want to reach out to a CPA or tax specialist but if you're doing Airbnb out of a home that you own I would suggest creating an LLC, EIN, and bank account. Then lease your property to that LLC and have your LLC pay you normal rent. You then let the LLC run the Airbnb operation. I talk about business structure quite a bit on my podcast and IG. This is all info I got from my CPA so I suggest you run it by your own but this set up had been very beneficial to our business.

@Andre Talbert join the Arkansas Investors group and you could find a mentor in there. You can also check out YouTube for all the wholesaling advice you would need.

The typical OTA's such as Airbnb, VRBO, BDC all have their own payment processing systems. It sounds like you're more interested in how to take payments via the direct booking website if I'm not mistaken. In the direct booking space, I use Yourporter and they are partnered with Stripe. Yourporter allows you to get chargeback protection at $2 per reservation. 

I have quite a few condos that I arbitrage in the Poconos and that place is so good year-round that I plan on buying there in the near future. You can't miss in the Poconos. Of course Ski season you need to make sure you increase those prices because of the influx of traffic. Poconos doesn't have a snowbird season from my experience.