All Forum Posts by: Patricia Taveras

@Kuriakos Mellos

Yes. I have done that three times with no regrets. That money has bought me cash flowing rentals making more of a return than my 401k.

@Cody Brookes

Mike and Culin gave some great advice. Do what they said - it will help you analyze. For what it's worth - my three Airbnb homes fit the description of yours exactly - 3/2 with converted garage to game room. We grossed 47k per home this year. So when I saw the numbers you gave, I just had to laugh and say "Yup." For what it's worth, I'm in a different, and less known market - New Bern, NC. Do your research, and good luck with whatever you decide!

@Arian Gibson

Hi Arian. Try Union Bank. I have two commercial loans with them. I used the branch in New Bern. They were great to work with. You could also try Southern Bank. They offer similar commercial loan products.

@Richard Appleby

There is an Airbnb host in my area who rents out a 3 bedroom 2 bath singlewide and is at 96% occupancy for January. (We're in NC.) It's not in a park. It's cute. He does charge considerably less than other 3 bedroom homes. Looking at his occupancy, he might could charge more than he does.

@Nathan G.

I whole-heartedly agree with all of those points!

@Nathan G.

I own my own STR properties, and I manage them myself, and I love all the benefits of doing so. But I actually do see how this type of partnership could benefit the landlord. Not all landlords want to learn to run an STR. Some truly want to be passive investors. They will get smaller returns than active investors, but probably still beat the stock market. If a seasoned professional is knowledgeable of the market they operate in, so they know what a deal looks like, will pay them above market rents, provide 0% occupancy (because they will always pay monthly rent regardless of guest occupancy) and provide constant eyes on the property, and often make small repairs at their own expense - why not, if it suits the needs of both parties? And as for the person doing the arbitrage - people create businesses all the time for the purposes of creating cash flow. Flippers do it too! Again, why not? Happy New Year! And Happy investing!

@Theresa Harris

Me too. I love his approach, and that's what I'm going to do. Happy New Year!

@Max T.

Thank you Max. Happy New Year!

@Grayson Appleget

Hi Grayson. I know this isn't helpful to your immediate situation, but in case you face a similar scenario in a future property - I bought a house where the owner needed to stay for a while after closing. A realtor friend of mine told me to add an addendum to the contract specifying a move out date with a daily penalty charge for every day she stayed over - this incentivizes a quick move. We made the daily penalty the equivalent of pro-rated market rent. The former owner ended up moving out prior to the agreed upon date. Good luck with your current situation- I see you are getting tons of great advice!

@Brock Dowis

Hi Brock. This has been done, though I don't think it's common. I can't remember the podcast number - but there is a "Get Paid for your Pad" podcast episode where the guest being interviewed did exactly what you described. I believe he already had a successful Airbnb business running, and he used this strategy to expand.

I also did this with my last home with my mother - my neighbor wanted to sell me her house. I couldn't get a loan at the the time. I arranged for my mother to buy it. I rented it from my mother and put it on Airbnb. I'm glad to have listened to the podcast above or I would likely not have thought of that solution when my neighbor wanted to sell. It helped that I already had two other successful Airbnb properties up and running so my family trusted I know what I'm doing. I actually just closed on buying this house from my mother last month, because I am ultimately a buy and hold investor.