All Forum Posts by: Rafael Ramon

@Mark Futalan

For sure. I would love that. Do you live out there? Is so let’s meet up sometime soon when I’m up for a weekend or something. We use the house as our little get away as well.

@Joe S.

Yes sir. My fiancé does most of the managing, but with some solid softwares, it makes the process pretty automated.

We also have a solid cleaning team that does our restocking as well.

@Brian Hatcher

They are out there, just gotta spend a little time looking. Also where in Atlanta are you? I used to live in Marietta for Grad School.

@Brian Hatcher

My Fiancé and I have a AirBnb in San Diego as well and they both do really well. I have owned property in Michigan (where I'm originally from) but am in the process of selling a property off to dive deeper into the STR market in southern California.

There is always inherent risk in anything you do, but the margins on these properties are so large it makes room for error. If you ever want to chat more numbers, im an open book.

December 6th was the first day we listed the Indio house, but in the month of December we netted $7345 after you subtracted the cleaning fees. The house has has an all in cost of $3820 (and im taking utilities, pool loan, mortgage payment, everything...) so even when SoCal is in a lock down, the house brought in $3525 of pure profit.  

@Brian Hatcher My realtor was a bit scattered, but if you want her info I can happily give it to you. Do you do any STRs around San Diego?

Investment Info:

Single-family residence buy & hold investment in Indio.

Purchase price: $356,000
Cash invested: $60,000

Bought a 3/2.5 SFR on a gold course next to where the Coachella and Stagecoach Festivals are. Did some cosmetic work and added a pool and back yard oasis. Now short term rent it out primarily on airbnb.

What made you interested in investing in this type of deal?

After going to Coachella myself and realizing the incredibly high nightly rate that the are commanded during the festivals and the relatively high rate for the rest of the year, it was almost a no brainer.

How did you find this deal and how did you negotiate it?

Im a huge numbers nerds, so I knew the price point I was looking for. After a few weekends of looking and not finding anything that was quite the floorpan and area I wanted, our agent showed us the newly constructed homes in Indian Palms Country Club. After you look at quite a few properties and find exactly what you don't want, its easy to know what you want the minute you see it.

How did you add value to the deal?

We put in a pool, created a back yard oasis, and even did some cosmetic custom work on the inside to add some flare to the house and make it our own.

What was the outcome?

On the market and renting. Even making a huge return the first month of it being listed during this pandemic.