All Forum Posts by: Nancy Bachety

Look at the listing platforms for a similar property and see what rates are in their calendars. Abb and VRBO, and compare with Airdna. Read through these forums and how to run the numbers for a potential buy. 

Have you found a suitable property in those areas that would get the nightly rate you’ll need? Don’t be driven by the price point you want to buy in, be driven by the property that makes sense and work to save up for it, if you have to. Your logic makes sense but does the property?

Thank you for your report Collin.  We have a true 2/2 cabin in a Wears Valley resort. We had a nearly full June, July and a week booked in each August, September and October so far. We’ve been getting bookings with little advance planning but we’re consistently getting five star reviews and bookings, albeit not in advance. We just lowered our base price by a few dollars so we’ll see if that leads to more advance planning. 
Why this works for us is because we didn’t overpay, the numbers always work, we bought in a proven market that we enjoy going to for a variety of reasons. So far other posters here mentioned fly fishing, hiking, and enjoying their time in the area.
When more sellers like the townhouse one in Cody sell at a lower price, the numbers might start working again and nightly rates might swing back up. 

There’s a thing called Home Exchange where you earn points for renting your home and spend points for renting others. It doesn’t have to be a direct exchange at the same time each time. I’ve known a few families who love it and also rent their homes out too. 

@Crystal Dirba

Everything you mentioned that you do, that’s on the list. My audit was settled by NYS first, before the feds, which is odd because the state usually follows whatever the feds do. The feds have not yet responded but we are confident it will be in our favor. In fact, you’d have no choice but to claim material participation because that is exactly how the regulations read and require. 

Make sure your calendar is only available for the desired future, 6 months, on Airbnb settings as well as on GFH. 

Agreed with above. 
An llc management co controlled by you doesn’t by itself solve the underlying issue. 
The STR loophole means you material participate and it gets non-passive status.
Your s-corp company that generates income is separate from your STR activity similarly to w2 jobs are different. 
But I’m just a layman who knows nothing. 
You’re on the right track but whatever you do, trust your CPA and verify they know the STR business. 

I don’t save my guests 15%, it goes in my pocket plus a security deposit. Airbnb provides so little to me right now.

To answer your question, during the inquiry stage or before a confirmed reservation, if a guest asks if we offer direct booking, I will reply the way I’ve seen others do: send a few messages back to back conveying my email address using letters numbers words and a certain level of expected savvy. It has always worked.  This is in violation but I’ve been around the block. I never do this otherwise, but some savvy guests ask. The ones who stay receive an automated message telling them to save my contact information for next time to book directly. 

At what selling price does the potential $50k income work out, mathematically? Follow this property and you might see a buyer who figured it out and a seller who recognizes it.