Airbnb Rentals Ideas

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Airbnb Rentals Ideas

Jonathan Vese
Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes

Hey BP, I’m new to investing and I thought I’d look into investing in Airbnb rentals. I live in Portland and I’m a realtor and the market is just way to expensive out here. 
I was thinking about Florida or AZ. Anyone have any great location tips? Looking for something furnished between $250,000 to $385,000

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Luke CarlPro Member
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
4y

Read a book called Short Term Rental Long Term Wealth. Also, it's not an "airbnb" that makes you sound like a millennial. It's a "Vacation Rental" VRBO and direct bookings are leaving airbnb behind with the new generation that are sick of airbnb walking all over us. 

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  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    4y

    Read a book called Short Term Rental Long Term Wealth. Also, it's not an "airbnb" that makes you sound like a millennial. It's a "Vacation Rental" VRBO and direct bookings are leaving airbnb behind with the new generation that are sick of airbnb walking all over us. 

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
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  • Quinn OlivarezBusiness Member
    Real Estate Agent · Houston, TX · Member since 2021 · 115 posts · 131 votes
    4y

    I would consider coastal TX too, like Galveston. Feel free to inbox me if you’d like to talk in more depth about this market 

    [email protected]832-607-2941
    Quinn Olivarez @ J. Lindsey Properties57 Reviews
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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Originally posted by @Luke Carl:

    Read a book called Short Term Rental Long Term Wealth. Also, it's not an "airbnb" that makes you sound like a millennial. It's a "Vacation Rental" VRBO and direct bookings are leaving airbnb behind with the new generation that are sick of airbnb walking all over us. 

    Thank you Luke, it has become annoying with the mellianals calling a STR an Airbnb.

    2Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Originally posted by @Jonathan Vese:

    Hey BP, I’m new to investing and I thought I’d look into investing in Airbnb rentals. I live in Portland and I’m a realtor and the market is just way to expensive out here. 
    I was thinking about Florida or AZ. Anyone have any great location tips? Looking for something furnished between $250,000 to $385,000

     For some great ideas search through old posts in this forum.

    1Reply
  • Jonathan Vese
    OP
    Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes
    4y

    @John Underwood I wasn't calling it an Airbnb rental to not call it STR or because I'm a millennial. My principal broker uses Airbnb so that's the method I want to go. He owns 6 units brining in 8k-12k a month here in Portland and I want to look elsewhere.

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Originally posted by @Jonathan Vese:

    @John Underwood I wasn't calling it an Airbnb rental to not call it STR or because I'm a millennial. My principal broker uses Airbnb so that's the method I want to go. He owns 6 units brining in 8k-12k a month here in Portland and I want to look elsewhere.

     If you're looking in a different market than Airbnb might not be the best fit. I use Vrbo and Airbnb and I get the bulk of my bookings from Vrbo. There are many benefits with Vrbo over Airbnb and you can search through past discussions on here if you feel inclined to do so.

    If you were going to stay in this market where your friend is doing great with just AIrbnb then there would probably be no reason to list elsewhere.

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    4y

    Hey @Jonathan Vese, listen to @John Underwood. He is 100% right. AirBNB was originally designed to rent single rooms in your house. It has of course expanded to pretty much every kind of rental. I have found in larger cities, AirBNB has a bigger play, but if you are looking at larger properties like lakefront homes, beach, mountain cabins etc, you will find VRBO has a tendency to bring more traffic.

    John and I both have lake houses and we both get more business from VRBO than AirBNB so don't discount using multiple platforms.

    Look at it this way, would it make sense as a real estate broker to limit yourself to only homes 3 bedrooms or more. Not take any other listings? Of course not.

    1Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y

    @Jonathan Vese Yes absolutely listen to John. There have been many discussions about this. I agree with the concept that VRBO is better than AIR.....higher caliber of clients for sure, better customer support (some of their staff actually speak English) they understand the model that most of us are trying to do much better - rent nice houses to nice people. AIR is just another player and quickly losing market share to the others. At the very least, do not limit yourself to only AIR, it's just not a smart business move....

    1Reply
  • Jonathan Vese
    OP
    Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes
    4y

    @Michael Baum 100%. I just felt he was taking a jab at me for being a millennial and using the term Airbnb. I was being specific to that model. I’ve heard of Vrbo, but I’ve also heard some cities are getting rid of vacation rentals because locals have been complaining like in cannon beach Oregon for instance. So I am limited for cash so I wanted to start with one property. Would love to hear more insight, for sure. You free to chat?

    2Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y
    Originally posted by @Jonathan Vese:

     the term Airbnb. I was being specific to that model. I’ve heard of Vrbo, but I’ve also heard some cities are getting rid of vacation rentals 

    You are aware that VRBO and AIR both do vacation rentals, right? They are direct competitors, albeit with a slightly different take. Use them both.

    1Reply
  • Jonathan Vese
    OP
    Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes
    4y

    @Bruce Woodruff yes I am aware, but specifically Vrbo is under scrutiny in parts of Oregon. I’ve heard from some of my investors that’s they’ve strictly switched to Airbnb for that reason. 

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y

    I don't know why one would be under scrutiny more than the other....? AIR has the worse reputation for parties by far....

    Anyway, I still say use them both.

    0Reply
  • Jonathan Vese
    OP
    Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes
    4y

    Apparently they’re preventing big buyers from coming into the area so some small cities are working on keeping them out. 

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y
    Originally posted by @Jonathan Vese:

    Apparently they’re preventing big buyers from coming into the area so some small cities are working on keeping them out. 

    That's just odd. AIR has to be doing the same thing (if it's even true). I would do some research to see what's going on, This is too important to not know the facts. A lot of people on here get most of their booking/income from VRBO.....

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y

    @Jonathan Vese I just searched the topic. It's true that a LOT of Oregon cities are looking to ban STRs, but it is NOT directed at VRBO, but AIR as well. Do a search yourself to verify. Maybe you want to look outside of Oregon? I know it's an uber liberal state and that type of politics tends to like regulating things (I am speaking generally of course :-)

    1Reply
  • Jonathan Vese
    OP
    Real Estate Broker · West Linn, OR · Member since 2016 · 61 posts · 31 votes
    4y

    @Bruce Woodruff when I said a lot of cities I meant cities outside of Oregon as well. In cannon beach I know it to be a fact because they had a town hall meeting about it. I was present for it. But I know there’s communities that want to limit it. 

    0Reply
  • Mark Tomseth jr
    New to Real Estate · Bend, OR · Member since 2017 · 15 posts · 6 votes
    4y

    Hi Jonathan! Don't know why they hassle on the terminology. I figured you are using AIRBNB as a general term for STR right? Kind of like Kleenex and Qtip. Anyway have you got any good insight? I too want to look into STRs. So far I have been using AIRDNA to check out areas. They have a free "rentalizer" tool you can plug an address in to get an idea for gross revenue and you can purchase some regional data as well. I've been watching a lot of "Robuilt" on youtube and he has some good information. Good luck and please share your story if you find something.

    FYI - We tried to buy STR in Bend by house hacking and we are trying to figure it out with all the permits you need. Definitely a learning process!

    2Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    4y

    Hey @Jonathan Vese. Well for me I wouldn't buy in OR, WA or CA. Too many regs, COVID moratoriums and the like keep me in Idaho or elsewhere. Just my 2 cents.

    @John Underwood is a great guy and he wasn't taking a jab. We are just a bit more jaded than some when it comes to terminology...and ARBITRAGE...

    VRBO and AirBNB do the exact same thing. So if the community bans VRBO, they mean short term rentals in general and it will affect AirBNB bookings the same.

    What I would do is spend a ton of time reading this forum front to back. There is so much info here, you will learn a lot about all areas where vacation rentals work.

    What kind of down are you talking about? A lot can be done for a little, but everything needs to be penciled out.

    2Reply
  • Joseph Bafia
    Investor · Raleigh, NC · Member since 2019 · 314 posts · 280 votes
    4y

    I believe many good options in your price points.  Those numbers are exactly the range we've been in here in NC.  I've got several in western NC and our first one at beach.  Most came furnished, but all under $400k.    I've also got one in CA, and just as everyone talks about strict regulations, our community went to a "no NEW STRs" rule as of 1/1/2022. ... we closed in November 2021....grandfathered in baby!

    Bets of luck and happy to answer any questions.

    3Reply
  • Michelle Backer
    Rental Property Investor · Brooklyn, NY · Member since 2019 · 75 posts · 43 votes
    4y

    @Jonathan Vese

    I live in NYC..

    i think Miami Beach would be a good investment for this. New Yorkers like myself are fleeing during cold winter months.

    South of Fifth or West End seems like the spots based on my research.

    I am thinking of investing in Vermont if anyone can share advise about this?

    0Reply
  • Daniel Sosa
    Real Estate Agent · Newark, NJ · Member since 2020 · 16 posts · 6 votes
    4y

    @Michelle Backer

    Only thing with Miami is the type of clientele one may attract.. usually partygoers.

    0Reply
  • Robert Beardsley
    Member since 2020 · 117 posts · 84 votes
    4y

    poor guy comes to ask a question and instead of helping people smash him on his terminology about something and attack him for being a millennial, as if it was bad to be born during certain years...

    7Reply
  • Jennifer McPherson
    Mead, CO · Member since 2016 · 65 posts · 60 votes
    4y

    @Jonathan Vese We started two STR last year, one in TX and one in AZ. In the process of getting our 3rd. Prior to this we had a couple long term rentals.

    My advise is to research!!!! Go in VRBO and Airbnb and see what’s out there, what’s booked, how much it’s going for etc.

    And sign up for AirDNA. It’s the best bang for your Buck and completely worth it! It will show you all the stats on STRs in an area you are interested in.

    And the biggest piece of advise…. Give yourself ample budget to furnish the rental! I estimated about $12-15 K for each of the places we bought and that was not enough! I ended up spending closer to $20k on each.

    3Reply
  • Josh Calcanis
    Rental Property Investor · Orlando, FL · Member since 2015 · 131 posts · 62 votes
    4y

    @Luke Carl interesting to hear that about AirBnB - I've got a friend here in Florida that does a brilliant job with his STR holdings on AirBnB (also on BP - Travis Zappia). While he's mentioned how AirBnB doesn't really support it's hosts as much as he should he's got quite the process built up.

    I'm currently only in the LTR space, but have been inspired by the cash flow for those properties and the financing for them. Could you detail the VRBO and direct bookings a little more for me? What's the difference for those two? Also just ordered that book.

    0Reply
  • Chinmay J.
    Investor · Northern, VA · Member since 2016 · 1k+ posts · 904 votes
    4y

    All the hoopla over the guy calling STR an AIRBNB. I mean really? Get a life.

    Maybe @Luke Carl. Learn some basic grammar.   Maybe use some commas in your post.. They are free to use.. 

    And what's so wrong w/ sounding like a millennial if you are one. I am not one BTW. A bit older than that..  And you know what the new generation hates. This "get off my lawn" attitude. 

    3Reply
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