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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 110 times.

Post: Make a $MIL on some buyouts and rehab in SF?

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@J Martin (why am I not able to tag you?): First of all that building will sell more than the asking price. Probably over 2 Mil. The tenants buy out, depending on how long they have been there, are there kids going to local schools, etc. Rent $$ you mentioned seems reasonable for that area. But like Manch said, if they pass the Prop G this coming January, you won't be able to sell immediately. Which is still fine as long as you get really great tenants who will move out in a few years.

You can't condo convert anymore now tho. They have banned that until the next 10 years!

Post: Legalize Short Term Rent in San Francisco for owners of multi-unit buildings

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@J Martin: You're awesome! Thanks so much!
I'm pissed that they are proposing for tenants to be able to do this, yet it is illegal for home owners to do the same thing!

Post: Legalize Short Term Rent in San Francisco for owners of multi-unit buildings

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

Hello BP'ers, 

I'm forwarding below initiative by a forum member with the hope that I could get you to sign the petition. Thank you in advance!

Board of Supervisors Meetings Scheduled with "Home Sharing for All"

Hello Everyone,
Can you please sign the petition? We need more signatures. I know there is only a handful of homeowners with duplexes that homeshare an empty unit but we need your help.
I have scheduled meetings next week at the Board of Supervisors and I want to submit an online petition. We could even invite the media but we need more signatures.
I wish we could share our primary home but there is no room. My 3 kids and I live in a 2 bedroom flat. We have been home sharing since 2012 our empty flat downstairs. It has not been previously rented for many, many years.
We love home sharing our downstairs flat. It is great fun and we love meeting other guests and families from all over the world.
I completely understand the need to preserve rental housing but empty units do no one any good. We are few in number and we keep 1 unit open for family reasons.
Some of us want the empty unit available for family members when they visit. Others want it vacant when they need their children to take care of them when they are unable to take care of themselves.
We could make requirements that the empty unit must be vacant for 3-5 years, no eviction history, and must be owner occupied. This would preserve the rental housing supply.
I would appreciate your help by signing the petition.
Thanks.
https://campaigns.peers.org/petitions/san-francisco-homesharing-for-all-one-unit-one-building

Post: Evicting renter from a vacation rental property

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@Cory T.  T. like everyone said, I have lots of sympathy for you for having to go thru this awful situation. A few things I can think of that might be of help:

1. On Airbnb site, there are Groups and one of them that is very active and closely related to Airbnb is the SFHomeSharers. Are you a member of that group? If you are not, join now. And if you are, put all this info you put in there on that site. You will have lots of responses and I"m sure Airbnb monitors that group since it is on their very site.

2. I hate to say this, but Carolyn Said of SF Chronicle is the one who gets very excited over any bad publicity on Airbnb. So if you email her, I think you'll get her attention right away. If you just search her name, I"m sure you'll find her email address.

I just got an inquiry to stay for 6 months and now I cringe to think what could happen if I don't screen extremely well. Your experience has surely taught us lots of lesson. I just told the person I need paystub, employer's letter and credit report (she's from the UK but has been here for 2 years).

Keep us posted and if there is anything I could help with, please let me know. That could have easily been me.

Post: Evicting renter from a vacation rental property

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@Cory T. : I just re-read your original post. Looks like his reservations were already expired. I'm not understanding how you didn't get the 14 days payment on the 31st day tho since Airbnb collects payment in advance from this guest.

But the fact that he doesn't want to leave when the reservations was due definitely confirmed that he's a squatter. Like someone said, lots of us could relate to your situation and hoping you could come out of this stressful situation.

Post: Evicting renter from a vacation rental property

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

Originally posted by @Cory T.:

Quick update--today I received payment from airbnb for the unpaid 14 days of this occupier's stay. It is unclear if this is compensation by airbnb, or if airbnb actually collected this payment from the occupiers credit card. That brings him paid up through the original reservation contract that expired July 8th, 12 Noon.

He still refuses to leave. The attorney I'm working with is moving forward with serving a 30-day notice today. Attorney looking into laws around this squatter using my condo to running some sort business (there is computer equipment all over the living room (seen through sliding glass door from outdoor common area).

I'm reaching out to my network to get help getting my story out. I'm starting a blog to document my experience on this journey. I'll work on it and aim to have something up by this weekend. I'll post the link once I'm up and running.

OK, I'm wondering now: Is this a misunderstanding? For long term guests (longer than 30 nights), you normally get paid for the first 30 nights and when that period is over, it does take another 24 hour for Airbnb to send you the payment. I have had guests who stayed for 3 months or 2.5 months or even a month and a week. So the timeline was as follows:

- 24 hour after guests check in, I get the 30 nights payment

- Once 30 nights is due, on the 31st night, I get payment for either the following month, or the rest of the nights booked, in your case it was 14 nights.

So that would sound normal to me and if the guests refuse to leave before his reservations ends, that is normal to me as well.

Maybe check the situation with Airbnb first and get all the facts straightened out?

Post: Evicting renter from a vacation rental property

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

Oh also,  with the amount of money he makes per day, that should be used against him for not paying rent!

Post: Evicting renter from a vacation rental property

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

Oh my, so sorry that this happened to you. I really hope things are working out and the lawyer can get this scammer out of you condo very soon. 

Did you the 'guest' have any review on his page? Was he new to Airbnb? I'm also renting thru Airbnb and knock on wood, so far all the airbnb guests are pretty good, and lots are amazing. I'm very careful now with those staying longer than 30 days, but was quite naive before since I didn't know how difficult it could be once you run into this kind of scammer.

Please keep us posted. I do hope you'll be in much better situation soon.

Post: Deal/Success Story in Process: Cash Flow in the SF Bay Area

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@J. Martin This is very cool! Thanks for posting the before and after. Are you still working on the remodel now? Would love to see it if it's not occupied yet. 

Post: Anshu from San Francisco Bay Area

Account ClosedPosted
  • Investor
  • Milwaukee, WI
  • Posts 115
  • Votes 75

@Anshu Sanghi Welcome to BP. I just joined not that long ago and received v warm welcome here. Too bad I cant make the SJ meet up but hope to see u in SF one!