All Forum Posts by: Vann Calhoune

@Kim Tucker Thanks! Those are all great ideas I will look into as well.

@Stephanie Reinagel Thanks for the info and congrats on the 5 properties! What has been the best way for you to acquire properties and what kinds do you look to acquire (SFH, apartments)?

I've ran into issues with HOAs and people just not really allowing STR with their apartments. I may switch my focus to only SFH. The problem with that is local laws to get permits. You have to goto the owner of each neighboring house and at least 55% of them have to I guess give you permission to run your STR (I think this is a bit excessive). Or you can apply for a special use permit and just pay an extra fee. Is the permit process in your market similar?

@Jacob Heinisch I agree. I think arbitrage gets a bad rap because some people don’t understand it and some do it illegally behind the landlord’s back. I think buying properties and building equity is great but I’d rather set up 4-5 air bnb arbitrage properties instead of spending that money on a down payment for one property and setting it up as an air bnb.

I guess like you said it depends on your strategy. Your risk tolerance as well. Different strokes for different folks.

How is it going setting up those month to month leases for arbitrage?

@Paul Sandhu buying properties especially in the Kansas City market is very expensive and requires more startup capital than an air bnb arbitrage strategy. The ultimate goal is to transition the cash flow from arbitrage into buying long term properties. The market is hot and it’s hard to compete with cash offers. It would be nice to own the houses and put them on air bnb but if you don’t have the necessary capital or can’t find off market deals, arbitrage is a great gateway to build capital.

@Paul Sandhu when I run my numbers I make sure the property can make me money even if I fall well below occupancy goals. How can the Property owner pull the rug if you have a lease in place? At worst they can not renew your lease after the year is up as long as you haven’t broken any clauses in the lease. In that case you can look to move your furniture to a new unit or sell it if worst comes to worst.

@Paul Sandhu What makes you say that? Have you tried arbitrage?

Hello everyone,

I'm a local investor in the Kansas City area with a long term and short term unit. I mostly do air bnb but have been looking at other options for the STR such as travel nurse housing.

Just wondering if there are any other investors in the area finding success with STRs, particularly arbitrage..

I’m looking to get into arbitrage and expand my air bnb business. Any local landlords or property managers that may be interested in that as well we should definitely connect!

@Daniel Denning how long did yours take? And do you think the delay is due to Covid?

Hello everyone,

I live in Kansas City Missouri and applied for a short term rental permit around 3/22. It’s been about a month and a half and when I contacted the department that handles those permit they said it should be just a little while longer. Has anyone applied for str permits in the area and had similar or better experience? Does a str permit usually take 2 months+ to be approved? This is my first time applying for a str permit but i feel like it shouldn’t take this long to approve a permit, time is money and not knowing when I’ll have a permit is not ideal.

@Vann Calhoune and I am not an llc by the way