Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Vincent Sun

Vincent Sun has started 4 posts and replied 9 times.

Thanks for the feedback, and I recently worked with my friends on this and created this tool: https://trylistpro.com - it supports both rental and sales. Welcome try it out!

Hi, after receiving some great feedback here from the agent and investor network, we have recently implement a tool that generates property descriptions in just 30 seconds. It's a total lifesaver for agents, PMs, and landlords who want to list their properties (LTR, sales, STR) super fast. As a fellow real estate investor, I know how frustrating it can be to come up with those marketing words…

We had great tractions so far. Welcome try it out.   https://trylistpro.com

Thanks everyone for the input! Definitely the long term rental case should be covered as well especially for those remote investors want to self manage and listing agents or PM company :) 

The downside of current Chat gpt model is they cannot integrate with location service and cannot infer based on the photos directly. I was trying to make a hobby project as I am learning ChatGpt AI model as well. 

As for the pricing, how much would the agents be willing to pay such feature?

Post: Homeowner insurance for Airbnb use case

Vincent SunPosted
  • Posts 11
  • Votes 4

Thanks everyone's reply, I ended up choosing CBIZ as they covered almost all the complicated renting scenarios (room sharing, living with the host etc) with a reasonable premium. 

Hi, I am the software engineer, with the current AI surge and myself is a big fan of AI, I am thinking about making a simple website for real estate seller agent with the features of generating listing description automatically based on house photos, amenities, locations, etc to help them list house easier - think about it as a marketing assistant and it will increase the workflow efficiency and conversion, so they don't have to spend tons of time drafting those marketing material. 

The idea workflow for this feature will be importing the photos, select basic house features, enter the address and then the listing description will be generated (later perhaps integrating this with MLS or Redfin) by underlying AI model.

Before doing that I'd like to see if this hypothesis is valid (or if this is an actual pain point for some of the agents). Thanks for your time!

Post: Homeowner insurance for Airbnb use case

Vincent SunPosted
  • Posts 11
  • Votes 4

Hello! I have a 3bedroom single family house that is used as an Airbnb listing, I had a Safeco homeowner insurance which my agent told me it can cover the short term rental. However recently I reviewed my policy and found the following language in the exclusion section which is quite confusing. I would like to see if anyone could bring more clarity or had similar questions before:

My questions:

-- what does "in part" exactly mean here?
-- If I list **the whole 3Bedroom house** (not the room separately) on Airbnb while I am not living inside, and rent it to the same group of 6 guests (they are friends but not same family). Will this still be considered as "exclusive use as a residence" or will it trigger the exclusion term c. (2) (b) because there are more than two roomers?

Thanks.

Here are the exclusion terms

Premises Liability do not apply to bodily injury or property damage: 

c. arising out of business pursuits or employment of any insured. This exclusion does not apply to:

(2) the rental or holding for rental of an insured location: 

(a) for the exclusive use as a residence

(b) in part, unless intended for the exclusive use as a residence by more than two roomers or boarders;

Thanks! Will try it out.

Originally posted by @Lisa Ma:

I am also based in the bay area. Got the same issue. I have called like 30 property management companies out there, and only one that does STR setups. I just started working with them. Will see how it goes. https://www.gobreeze.live/ 

Originally posted by @Collin Hays:

I think it's going to be difficult to hire "someone on the ground" to get your properties set up to your liking.  You can manage them remotely, but setting them up is another animal.  Plan on investing a week in each city to get everything to your liking.  Not only do you want to properly outfit the places, but you are going to want to do a thorough risk management assessment for each place to mitigate the risk of accidents.  

As for managing them remotely, you are going to need to have in your smartphone address book the names and numbers of reliable contractors and/or handymen that can take care of things as they happen.  You need a commitment that they can address issues on the same day, or you are going to have unhappy guests and lots of refunds.

Housekeeping...you are going to want to take your time and find the best fit here.  Don't go cheap.  You hire Suzy off of Craigslist to clean it for 50 bucks, and she decides to skip out on you when you need the place cleaned, guess what, you just lost more rent.  Find a reliable, bonded, insured housekeeping company if you are managing remotely.  That doesn't guarantee you don't have headaches, but at least you have hired someone with some credentials.

Good luck to you!

Thanks for your comment... I am kind of lazy investor and would like to just outsource those setup / management work as much as possible. I think property management service is quite easy to find but haven't found anyone doing setup yet. I will do more research. 

I am a remote investor living in Bay area and recently bought properties in Austin and Dallas. I really want to turn those properties into Airbnb listings due to promising ROI and no HOA restrictions … The biggest challenge for me is to hire someone on the ground to set it up and coordinate with vendors, for example running errands to pick up the keys from my agent, purchase / receive / assembly furniture, installing smart lock so I can have full control over my property remotely.. After calling several local short term PM company, they only take care of the property in make ready state. Anyone has similar problem? Any referral on the vendor that can setup would be appreciated...