All Forum Posts by: Syed Lateef

I wanted to reflect on my Airbnb's performance in one of my units i have located in Jefferson Park Chicago.

I put together the attached analysis to look how my occupancy has bee YTD.

I started doing Airbnb in this unit in February of 2017.

Curious to know how other peoples Airbnb is doing in Chicago?

What do you guys expect for the winter?

@Gary Lucido has interesting pricing model for buy side 

I will be there 

Option 1 long term lease

Option 2 Airbnb  

Option 3 sell it 

You will have no problem renting it out if it's in a good area.

Airbnb is my go to. I have found that you make more money with Airbnb than long term lease. Of course the condo association should allow it 

Ill be there... again!

Hi, sounds like a good time! count me in

@Dhru Das

I think  the horror stories are very rare.  I have had about 100+ groups of guests check in so far. Out of that 1 group i really had a problem with. 

There is so much more money to be made if you rented your entire unit! 

Like @John Casmon mentioned revenue is about double than what i would have made for long term lease. About 80% of my units are Airbnb. I am looking to expand more units to Manage 

I have been finding great success in Airbnb. City of Chicago recently gave me my registration number for my units

@Sam Lee 4 units and less are valued by other sold comps within its vicinity.  The only way to try to negotiate by finding similar type buildings in the area and proving to the seller that their property is not worth X amount. 

Plus you need no other buyer to offer the seller for him to even entertain you showing him comps of what his place is worth

More than likely the seller priced it fair. Like you said its a hot market and supply is really low. He will probably get an offer around his asking price.

the Seller really wouldn't care about the rules on Biggerpockets regarding the 50% rule and 1% rule :)

Properties can be sold in the North-side of Chicago can be between .5% to .8% depending on the area

Hey @Brie Schmidt ill be there @ the Chicago Meetup