All Forum Posts by: Shane Mcc

@Eric A. thanks, appreciate the help

Hi,

I'm interested in purchasing a foreclosure property and the seller is selling the home with a "special warranty deed". What's the difference between a "special" and "grant" deed that is sold with most properties? 

Thanks

@Wills Louis what's your vacancy rate like in SF? is it hovering around 50%? Thanks for the tip regarding cleaning. It's my understanding most airbnb hosts have the tenant pay the cleaning fee. It's usually factored into the agreement when you book an airbnb. 

@Myka Artis appreciate the tips regarding STR laws. Where would I start to research such laws?

Thanks

Hi,

Should a person make more revenue by renting a unit on airbnb/homeaway etc.. than an ordinary month-to-month or yearly lease? I'm trying to figure out the metrics and I'm having a difficult time doing so. 

Lets say you have a two unit apartment home and allocate one unit to "home share rentals" (aka airbnb, homeaway etc..) and each unit has two beds and one bath. How much more revenue should the  "home share" unit produce in order to help off set the cost of higher expenditures and put more money in your pocket? 

Unit 1 (non home share) 1200.00 x 12 = $14,400.00 yearly gross revenue. 

Unit 2 (home share rental) ...

365 Days a month x 50% vacancy rate 

(I came to this vacancy rate because I listened to podcast 114 and the speaker said he rented 200 days out of 365 with is a little over 50% for the year.) 200 / 365 = 55% but I rounded down because I want to be conservative. 

Average nightly stay through out the year is $125.00 

(I came to $125.00 ANS as an arbitrary figure based on what I viewed in my local area. This number is based on raw speculation, which is dangerous in the RE business because my revenue is based off of this number.)

200 days x $125.00 = $25,000.00 

$25,000.00 represents 74% more top line revenue for the unit 2 verses unit 1 

$25,00.00 x 3% = $750.00 commission paid to home share website 

$25,00.00 x 20% = $5000.00 expenditures (Internet, cable, electric, garbage, insurance, soap, shampoo, towels etc..)

Unit 2 yearly income $19,250.00

$19,250.00 represents 34% more revenue than unit 1 

Is anyone on BP familiar with airbnb/homeaway/home share figures? Are these numbers correct? Is my approach sound? 

I know I've asked a slew of questions but any insight would be appreciated. Thanks.

@Michael Seeker

"I think there will be a small percentage of people that own their own driverless vehicles but not a lot"

I have to respectfully disagree because there's an immediacy to owning your own automobile.  Why wait for a uber/lyft etc... but if I'm wrong I think commercial real estate, now crumbling malls, parking lots etc.. will increase in value. I believe this is the case because where would ford/toyota/honda/uber/lyft etc... put all of there automobiles when not being used... 

I think you'll see entrepreneurs enter into the "autonomous" automobile arena buy acquiring there own autonomous automobiles and tap into whatever platform is available to the public so they can rent there own autonomous vehicles.  What do you guys think

Do you think people will own there own driver-less vehicles?  

How do you think self driving / autonomous vehicles will impact the value of real estate? 

Rent / lease the land to a local car dealership/auto repair facility. They can either put up an annex or use it for storage. 

@Brandon McLean Thank you. I would appreciate that. I work on the Scituate/Coventry line. 

 I know a lot of ex-RI's are moving south. How's life in NC treating you?

Thanks

Do you have to be a realtor to get access to expired MLS listings?

Thanks