All Forum Posts by: Nicole Jones

Agree with Pratik P. While the cash flow would be better with Airbnb, it would be much better if you could find a multi unit. Even though you would spend a little bit more.

Robert Howard just my 2 cents on Airbnb and smaller less known towns. I am a host in an unsuspecting town and have been doing surprisingly well. If this is even something you'd be interested in, i would recommend jumping on Airbnb and looking around in your area. Also AirDNA has some great tool to see how well your area performs.

Check out AirDNA. They have accurate reports based on location.

Derek Hilley Sorry I don't have an answer for your exact question but I do have 2 duplexes and will soon be renting 3 of the 4 units out on Airbnb. Would it be possible to find some help with the upkeep and turnover process? This is what I am doing since I will be moving to another city in a few months. It is scary but the cash flow is amazing. I hand over the cleaning fee to the person that helps. Worst case scenario for me is I transition back to long term tenants. Has your city had any short term stay legislation yet?

I agree with @Chris Mason 100%

I would be careful over-leveraging in something as uncertain as can be Airbnb right now. I'm confident that the sharing economy like Airbnb/Uber will always exist in one way or another but in this phase of figuring out regulations, I might just be cautious with the amount. Also agree with @James Carlson regarding the cities and states that have already gone through the legislation in a favorable way.   

It is standard for them to charge you at the time of reservation. I think it's the same for any hotel booking hut I could be wrong. If you choose to cancel for whatever reason you will be reimbursed according to the cancellation policy per the host.

@Jason L. Tower District is certainly an area that would do well on Airbnb but I have seen many successful listings sprinkled throughout town. I manage the listings myself at the moment but am transitioning to outsourcing this month and next. It can be more intensive but in my experience the payoff is well worth it. Inbox me!  

@Jason L.

@James Carlson mentioned I live and invest in Fresno. I own two multi-families and have been transitioning some of my units into Airbnb's. I can't offer advice on the purchase side. I don't know the markets in the other cities enough to offer a comparison. What I will say that may put Fresno higher on the list is that the Downtown area is expanding like crazy bringing many new businesses and overall people to that area. It reminds me a lot of what Portland went through around 10 years ago. New people are coming into that area from in town... but mostly out of town. I don't know what your exact plans are in terms of flipping or holding but Airbnb has treated me well here and I plan to keep expanding on that (most likely in the Downtown area) especially since Fresno is WAY under the radar of Airbnb regulations.   

@James Carlson Yes! You are spot on with smart pricing. I left a lot of money on the table the first month from trusting smart pricing as a tool. Once I received my first few 5 star reviews and I gained some confidence that my listing was not only desirable but sufficient and enjoyable during the stay I moved away from smart pricing and have almost doubled the nightly rate with no hiccups. Good luck in all you do as well!  

@Demetrius Fowler

I agree with all the points @John Van Uytven laid out. Listen to Podcasts and make sure you know a little bit more about the industry before jumping in. Regulations are popping up everywhere. Because Palm Springs is a high tourist location it's a probability that regulations have already been implemented or are in the works. What this means is that there will be a limited number of days that you can rent out your new place which leaves it vacant in the other days. This doesn't mean though that you can't make it work! There's other short term rental options and some people don't mind 9 month leases. Traveling nurses usually need a longer short term stay (1-2 months). Education is key. It's a great idea, just make sure you leanr as much as you can not only about the investment side but also the hospitality side. Good luck!