All Forum Posts by: Syed Lateef

I manage near 30 Airbnb units in Chicago

I use:

Smartbnb- Automated Airbnb messages and Reviews

Price labs- Pricing software that Syncs with my property management software

VR Easy- FAST consolidated calendar, Automated VRBO & Booking.com messages

Stripe- Payment Processing

I am really excited to talk about Airbnb in Chicago at this event! Also the potential money you can generate from Airbnb vs Long term Tenants.

@Brie Schmidt how many people are you estimating to be here?

Hi All,

I run Airbnbs in Chicago (about 25 Airbnb's at the moment) and will be flying to Texas next month

Dallas May 17th to 20th

Austin May 20th to 23rd

I wanted to see if anyone out there who is currently managing Airbnb's out there would like to meet up for coffee where we can exchange idea's/strategies.

I can offer education systems, software's, automation that helped me scale to 25 units in a short time

In return i would like to learn about laws and regulations, neighborhood, revenue potential etc.

I did a similar post for Miami and met some really cool people!

Chris, I use Farmers Insurance - Georgios Kalabogias in Ravenswood. He has been great for me

I am honored to be on the panel of speakers and looking forward to answer some Airbnb questions in Chicago!

If there is certain topics you would like me to address message me

Congrats. I think this is a great idea. My advice is to after doing initial research and understanding the market take action. Theres no such thing a perfect deal, but many want to start but they dont end up pulling the trigger.

Also, do not purchase a property with your friend if doing an FHA loan. Your friend should get his own. Down payments on FHA with closing costs are around $30K to $40K on a $500K building

You can even ask the seller to roll the closing costs for $10K and roll it in the loan essentially paying just $20K down

Figure out how to save or get that money as a gift. Its not a lot

I recommend @Brie Schmidt as well

Supply has gone down, I would increase price and see what result that provides you. Nothing is set in stone so you can always adjust prices and bring it down if it results in less occupancy.

I agree the other posts about meeting with the motel owner, been through many ethics courses at the company I worked at to know that's illegal.

@Josh Jacobson i received some good rates on my multifamily from Farmers Insurance on Damen & Foster in Andersonville  

Agent owners name was George and he was helpful

Nice! Ill be there