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All Forum Posts by: Ally H.

Ally H. has started 11 posts and replied 46 times.

Post: Vacation Rentals, Airbnb, VRBO, or something more?

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

I agree with @James Carlson that AirBnB is the disruptor or trendsetter at this time. I've been on the platform as a guest and a host. Yes, I am a millennial, and I think that their UI is easy to work with, not clunky, and at the top when compared to others within the vacation rental, home sharing, and sharing economy platforms. 

From my personal experience, their quality of customer service is pretty good, and it seems that the company gives their representatives adequate power to go beyond each user's expectations when the opportunity arises, whether that involves providing extra credit to use during cancellations, replacing items that were damaged or taken during a stay, etc. I think that they have an emergency system/teams in place to help with immediate resolutions, similar to how concierge services work. As a host, I've been personally called by AirBnB to host guests who had their original reservations cancelled in the surrounding area, so that's been reassuring to know that they would go those lengths to help guests out of unfortunate situations, particularly important if it's in a foreign country (I've never had this happen to me personally when I was abroad though as I was lucky with great hosts). However, I've heard that one of their growing pains is the longer and longer wait times on their phone lines. I rarely encounter any situation where I need to speak with them on the phone (their response rate by email is OK), but I do hope that when I need to speak with someone, I don't have to wait more than 5 minutes to do so. 

The appeal of AirBnB, as opposed to the standardized consistent hotel experience, is the opportunity to find the type of vacation or stay that each person wants, whether that is living with/like locals in neighborhoods where hotels don't exist or can't offer, getting more space with the facilities you want (i.e. kitchen, backyard, personal jacuzzi, theatre room, etc.) perhaps at a more affordable price, or sharing a home with others where you can share a home-cooked meal or exchange stories around a fire pit at night. From a consumer point of view, it comes down to having a wide range of CHOICES. Sometimes, I do want to stay in a hotel and other times, I want another experience that may be available on AirBnB. On the flip side, as a host, I have complete control over what I offer and I feel that the fees that AirBnB charges are worth the platform and service that they provide. That can always change as the industry adapts. And perhaps, there will be another competitor that comes along and if they have a smoother platform, faster/better customer service, better support tools for both guests and hosts, lower fees, and equal or more choices, then they can overtake AirBnB.

Post: Recommendation for a Hawaii Loan Officer to qualify Tenant/Buyers

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Michael Gayer Jr, we used Kendall Naya from Net Lending. He provided an awesome deal and kept me updated on all communications. I'm not sure if I'm allowed to post his contact information, but you can either search for him online or PM me. Good luck!

Post: Any Contractors Experienced with Basement Conversions?

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

Hi BPers! I need some assistance with locating contractors or firms that have experience with finishing basements. Here's the background information: I have a property in San Jose, CA that has a basement. The previous owner had split up the basement into two semi-finished 1-bedroom apartments (semi-finished because the renovation was not completed up to code; i.e. no egress windows, there's moisture issues, etc.). After he was fined by the City of San Jose, he essentially deconstructed both basement apartments and removed all fixtures/cabinets/etc., except the walls.

I am interested in finishing the basement with all the necessary improvements to bring them up to code, including the necessary permits and inspections. The end goal is to have one unit for my relatives and the other one as a rental unit, but this (total of 3 units when including the main dwelling) may not be possible because the property is in a R-2 Residence District (2DU/Lot). I'll be reaching out to a planner and building inspector for their advice on this point: http://www.sanjoseca.gov/index.aspx?NID=408

I've perused the city's building website (http://www.sanjoseca.gov/building) and basement requirements (https://www.sanjoseca.gov/DocumentCenter/View/16115). The contractors that I know do not have experience with basements as they seem to require special considerations like vapor barriers, foundation grading, etc. Can anyone recommend any contractors or firms that have experience in this realm? Any advice or suggestions would be greatly appreciated. Thank you in advance!

Post: Advice: I Inherited a house in San Diego with a Long Term Tenant

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Matthew Ware, my condolences regarding your father. Losing someone suddenly and unexpectedly is very difficult.

I'm originally from California and many posters have already given very good advice regarding selling and investing elsewhere for better returns versus holding in a hot rental market (regardless of whether you renovate or note). With your father's death, you have a lot on your plate (probate, etc.) and though it's already been a few months, it seems that you are uncertain whether you'd like to be a landlord across the country (and manage a PM once you've shopped around and find one that you like and deem competent) versus selling the property (and taking that emotional burden off your shoulders in a way). There are financial advantages to all of the advice that others have posted about already, but have you thought of your life goals and how your father's estate can help you achieve those goals? It sounds like you are doing well financially, so regardless of whichever option you end up choosing, I think that you will be financially sound. I have seen people who have experienced the sudden unexpected passing of their loved ones struggle with their own fears of mortality and death, so my humble advice is to honor your father by living your life how you want and chasing your dreams/goals, whether that means building upon his estate (and assimilating it into yours) or selling to work with a new slate. Best wishes to you and your family.

Post: Any suggestions?

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Jared Dudoit, I used a local Oahu lender who I highly recommend and would do business again with. He was professional and able to get us the best offer terms. PM me and I can send you his contact information as the forum does not allow posting of contact information.

Post: New Member from Bryson City, North Carolina

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Kyle H., welcome to BP! 

Wow, your tiny home is gorgeous! Love the layout and design. Is this your first tiny home construction? What were the total costs and labor hours involved? 

I wish that there were a tiny home manufacturer out here in Hawaii as I imagine that there would be a huge demand.

Post: Top 10 AirBnB Income Markets Based on Income & Average Price

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Reuven Cohen, I think that it would be more accurate if you only used listings that have reviews already as that means it was actually rented (versus listed). 

Post: Cash flow on Oahu?! In escrow on my first property!

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

@Sarah Lam, there is a large enough military population in Hawaii (if you are set on having military tenants - the BAH is certainly enough to cover your proposed rent) that will have people PCSing year-round. However, the majority of PCS moves are during the summer. If you're listing your place in November, you'll likely get a smaller number of military applicants just based on being out of the PCS season, and people move in/out less during the holiday season.

Regarding the renovations, I think it depends on the renovations. Is the condo in rentable condition (for the targeted tenant population) now? 

Post: Cash flow on Oahu?! In escrow on my first property!

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16

Congrats, @Sarah Lam! What a great find!

If you're targeting military tenants, putting your place on AHRN and Craigslist should get you some good applicants. The end of peak PCS season is right now. When are you looking to place it in the rental market?

Post: Frustrated with Bigger Pocket Posts

Ally H.Posted
  • Property Manager
  • SF Bay Area, CA
  • Posts 46
  • Votes 16
Originally posted by @Jane A.:
Katie Douglas Thank you for sharing I did not have a chance to read all posts, somebody may already make this comment: I think your problem is not "too much marketing in some posts" or "your age or generational problems". You main enemy is your attitude. Your initial post is full of "limitations". I mean your thinking process limits your ability to see opportunities instead of obstacles. If you will find a way to focus on what is possible a you will find your way. Even in marketing posts you could find valuable ideas you could apply on your own, I mean without spending money

 

I agree with Jane. When you mention that weddings are a 'need' rather than a want (and I recognize that it may be more of a need than want in certain families), I am uncertain how you will transform your motivation to actual hustling in your current mindset. Personally, we eloped (more due to personal than financial reasons), but even if a wedding is a 'need', it does not have to be a lavish wedding (and nowhere near the typical 5 figures that is quoted nowadays). There's no correlation between the wedding cost and success of the marriage. Anyway, to emphasize again that BP is a tool available for you to use, there are many success stories on BP that offer inspiration and real-life examples of how to get started if you want to look for ideas or direction.

Although it does sound like your budget does not contain much frivolous items (kudos to that!), are you spending the rest of your income on debt reduction? If you know you're going to have to replace your car(s) soon, then have you started budgeting for that expense? We personally found it critical to anticipate large expenses (in an emergency fund) when we were throwing every penny towards those student loans. Furthermore, I would also encourage you to consider estate planning and insurance needs (depending on whose loans they are under). My husband and I purchased 30-year term life insurance policies (inexpensive for healthy 20-year somethings) just in case. Plan for the worst & hope for the best!