All Forum Posts by: Steven Ko

Honestly I did not read your post but you need to give it time. And she needs to be on board. She may not be against it but just extremely cautious.

Whoa whoa whoa. Let’s start from the beginning. Have you read the book rich dad poor dad?

You’re saying, “it’s too expensive to get started investing.” When really you should...

Aw crap...

You should ask your self “how can I afford it..” but not in a whiny way. And figure out the solution.

Then. You need should look at your savings rate. Do you listen to the bigger pockets money podcast? 40k in 5 years IMO not a lot when houses you’re trying to buy a rental for 200k. Do both of you work? Is there any area you can save up more money? Don’t tell yourself there’s nowhere else to save money. Figure out how.

Bro..Listen to @Caleb Heimsoth you’re acting like this is an easy road and after one book you’re a master. It’s not hard but you gotta be humble and take it slow. 75 units in 8 years? Sounds like you don’t even know what to do next and your counting your chickens before they hatch. You’re an engineer, you’re smart, don’t be digging your own grave moving to fast. I’m glad you still have this positive outlook towards investing but losing 100k+ like you did and blindly being hopeful is just flat out silly. Like many people have said before, get your sh!t together!

@Julie McCoy sorry if my title mislead you. I don’t think the str market is going anywhere. It is hard sometimes engaging the bp community so I’ve taken the cheesier route of yes, picking a ridiculous title.

There seems to be quite a few people who have gone down the Airbnb arbitrage path and now a bunch of properties will go for sale/go vacant in a time when not many home buyers are buying houses. I’m not saying prices are going to crash but there is going to be some pressure.

With the stock market falling and people losing their jobs, this can cause people to tighten up their purse strings. I’m hoping this will bring some deals along.

@Lucas Carl oh I get it. Yea. Def not the smartest move while being in that kinda financial situation.

@Lucas Carl not too sure what you’re getting at? What does a roommate have to do with anything? How does a roommate drag your Airbnb empire down when you have 10+ listings? I think the Airbnb host probably lives somewhere with roommates while going out and getting properties solely for Airbnb.

And your missing the point. It’s not about the host or the roommate, but the fact that there are sooo many people who implemented this no/low money down investing strategy. You need few thousand dollars for your deposit/rent. Few thousand dollars to furnish and bam, Got yourself a cash flowing business.

And Airbnb will take a while to recover once this is all over. We’re not going to start traveling day 1 of this quarantine being over. It will take time for people to get back to a normal traveling habits.

And I guess I'm more so looking at this maybe from an opportunistic pov. Is anyone getting ready to buy SFR?

I read on Twitter that someone’s roommate is a super host on Airbnb and has 10+ mortgages/lease agreements. They are on an Airbnb forum and there are many of them in the same situation. I listen to str podcasts and this is a very common “no money down” strategy. They would be okay with paying market rates on Zillow because the cash flow was so good but now 0 cash flow. Some people pay above market rates for rent to sway landlords to allow them to Airbnb. Really interesting to see what will happen.

I guess I find the article title soooooooo cliche. Just like how people think the market will crash since 2015 or earlier. It’s nothing new that prices in the Bay Area are high. It’s nothing new that Austin is growing. You can probably flip a coin as an investing strategy when picking the prime markets: SF, Seattle, NY, Austin, Denver, etc

I started with individual stocks. Lots of people will say not too but motley fool is the bp of stocks. I listen to their podcasts religiously and they got some smart analysts.

Then I found bigger pockets. I got into real estate. I still continue to invest in stocks and use money I make from RE to invest in stocks.

We are now starting to save money for repairs and whatnot.

I don’t get people who don’t invest in stocks and say RE is the best.

“I am a better investor because I am a businessman and a better businessman because I am an investor.”

Seems like lots of no's from people who are worry bugs. Seems like the people who are worried don't use the Airbnb platform themselves. There are ways to set up your Airbnb so you can charge more money and keep certain types of people away. You can get sound sensors that alert you when it gets too loud if your worried about parties. Get smart doorbells with a cameras to see how many people enter. Just like many things, don't let fear make the decision for you. Sure there are horror stories to owning LTR but you don't let that scare you. STR can be another tool in your belt to succeed. They hire cleaners and keep your place clean. Most guests are just looking for a place to stay, just like a hotel but like the usually cheaper and more homely feel.

If you look into STR yourself, you'll see this is a very common strategy to grow.

Even Jay Hendricks is testing out STR.