120 AirBnB Listings - Ask Me Anything

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120 AirBnB Listings - Ask Me Anything

Noah Laker
Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes

Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

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Curtis Porter
Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
3y
Quote from @Luka Milicevic:

Why haven't you left California? 

He’s fighting communism from the inside 
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  • Gita FaustBusiness Member
    Accountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
    3y
    Quote from @Noah Laker:
    Quote from @Jason Luongo:
    Quote from @Noah Laker:
    Quote from @Jason Luongo:

    What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

    Also, what PMS have you found works best at your scale?


     That is an awesome question. We do a COHOST model through airbnb (owner is ADMIN, I am PRIMARY, and my customer service team is COHOST). For other less sophisticated platforms like VRBO we have to use trust accounting. 

    We've used all the different PMS's and I always end up back with Hospitable - formerly Smartbnb. They are simple, cheap, and accomplish everything we need without the fluff. 


     By Primary, do you mean the listings under YOUR Airbnb account and you own the listing? So if they were to switch managers, they would lose that listing and review. Sorry for the confusion. And are you using the new co-host payment feature?

    I manage 11 properties, we help them create their own account during onboarding, and we are set as the co-host within airbnb. VRBO they just have to share login with us, then we connect to hospitable.

    I have gone back and forth whether this is the correct way moving forward as we scale.

    I also use Hospitable and it has just plained work well. I wish it has some type of owner reporting feature instead of just the spreadsheet. Are you manually creating invoices in something like quickbooks as I am doing now?

    We should definitly connect sometime. We're in the same ship.


    There are three possible designations on Airbnb: Admin (CREATED THE LISTING), Primary Host (FACE OF THE LISTING), and Cohost (HAS MANAGER ACCESS).

    Feel free to book a consultation at wishstr.setmore.com if you wanna get really in depth about configuration. This stuff is important!


     If AirBnB keeps track of your balances, why do you want to create invoices in QuickBooks? I would just at the summary at the end of the month. To simplify your process check out software that integrate with QuickBooks as well.

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Luka Milicevic:

    Why haven't you left California? 


    The dastardly reds will not drive me from my home!!! That is where I draw the line. 

    3Reply
  • Francis Caron
    Member since 2023 · 5 posts · 1 vote
    3y

    Hi! I currently own a 3BR/2Bath home with finished basement. I would like to get into AirBNB business using the basement. Right now it doesn't have it's own bathroom and kitchen. Would it be a good idea to list it now as shared kitchen and bathroom OR should I invest in getting it set up for bathroom and kitchen first? Thank you!

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    3y
    Quote from @Noah Laker:

    Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

    I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

    Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

     Question: Is AirBnb a noun, verb, adjective, or all three?   

    "I decided to AirBnb my AirBnb because most houses here are AirBnb'd." 

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    3Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Francis Caron:

    Hi! I currently own a 3BR/2Bath home with finished basement. I would like to get into AirBNB business using the basement. Right now it doesn't have it's own bathroom and kitchen. Would it be a good idea to list it now as shared kitchen and bathroom OR should I invest in getting it set up for bathroom and kitchen first? Thank you!


     That's a good question. I'd have to see the property, and analyze your submarket. 

    I guess the question is how much capital are you able and willing to invest in this project? Is there already a separate entrance to the basement? If there's not a separate entrance, it won't feel "private" anyway and the investment would be pointless in my opinion. 

    Just my two cents. Feel free to DM me for a more thorough conversation. 

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Collin Hays:
    Quote from @Noah Laker:

    Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

    I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

    Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

     Question: Is AirBnb a noun, verb, adjective, or all three?   

    "I decided to AirBnb my AirBnb because most houses here are AirBnb'd." 


    Alright, teacher's pet. Let's not argue over semantics. Lol!

    1Reply
  • Ekeanyanwu Blezzio
    Member since 2022 · 1 post · 1 vote
    3y

    @Noah Laker,my name is Blezzio from New Jersey,I wanna start Airbnb but I don't know where or how get stated,I need your assistance to get me stated..

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    It is a Short Term Rental. AirBNB is a platform. 

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Ekeanyanwu Blezzio:

    @Noah Laker,my name is Blezzio from New Jersey,I wanna start Airbnb but I don't know where or how get stated,I need your assistance to get me stated..


     DM me and I'll do my best to help :,)

    0Reply
  • John Carbone
    Realtor · Gatlinburg · Member since 2020 · 1k+ posts · 957 votes
    3y
    Quote from @Michael Baum:

    It is a Short Term Rental. AirBNB is a platform. 

    I think anyone under 40 calls it "an airbnb" and over 40 it's a STR. Generational thing

    2Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y
    Quote from @John Carbone:
    Quote from @Michael Baum:

    It is a Short Term Rental. AirBNB is a platform. 

    I think anyone under 40 calls it "an airbnb" and over 40 it's a STR. Generational thing

    Probably, the damn Tiktoc is ruining everything! Them kids today are all on the TikToc!
    1Reply
  • Ran Iarovich
    Real Estate Agent · WA · Member since 2021 · 254 posts · 173 votes
    3y

    What is your story and what areas would you recommend starting to invest in? What do you look for in analyzing a good airbnb deal? What are some of the mistakes that you made when starting out? 

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Ran Iarovich:

    What is your story and what areas would you recommend starting to invest in? What do you look for in analyzing a good airbnb deal? What are some of the mistakes that you made when starting out? 


     Hi Ran! It all started the day I was born... 

    But basically I started studying for my real estate license at 18, started leasing / working as a property manager for various apartment communities at 19, and started doing rental arbitrage at 20. Then we got really good at Airbnb and started managing for others. Bought a few properties of my own... That essentially brings us up to present. 

    I look for markets which are stable and friendly towards STR while still imposing some barriers to entry to keep the dumb money away. Sacramento is my home and it's a perfect playground for me. Strong appreciation and cashflow, prices still cheap for California, and it's the state capitol with two major universities so even during this recession we are very stable compared with other markets.

    Mistakes? Trying to do everything too fast is maybe a blessing and a curse. I just try to keep moving forward and not dwell. 

    1Reply
  • Jay Ara
    Member since 2023 · 2 posts · 0 votes
    3y

    Do you give opportunities for aspiring co-hosts? If so, what is something you look for when hiring aspiring Co-hosts? 

    0Reply
  • Michael Sylver
    Investor · South East · Member since 2022 · 28 posts · 8 votes
    3y

    If you are bringing a new STR to market, what strategies do you use to get the maximum rent in the shortest period of time? In the first year, does it require runway to get renters vs. the established competition in the area? Does it matter if I'm a first time VRBO listing my property or should I hire an established "pro" management company, will they get my property leased faster than me? Thanks!

    0Reply
  • Zach Edelman
    Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Opinion on DSCR loans for STRs? Do you have any experience with your clients using these for financing? If so, how have these transactions gone?

    0Reply
  • Alexis W.
    Jacksonville, FL · Member since 2015 · 18 posts · 6 votes
    3y

    Would you recommend one's first STR be in one's home market or in a remote market, in a case when both are possible?

    I'm currently considering this question wrt saving up the down payment. I think it will be easier to learn with a property near my home however I can get started sooner by leveraging the 10% down second home mortgage. (I am financially prepared otherwise.) 

    My long term goal is to have STRs in a few cities. I'm leaning towards the remote option because I'm impatient and saving for 15 or 20 percent means several more months of saving. The remote location would be my childhood hometown.

    0Reply
  • Yiwei Cheng
    Investor · Cincinnati, OH · Member since 2023 · 139 posts · 81 votes
    3y

    What are your biggest problems scaling from 30 to 100?

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Michael Sylver:

    If you are bringing a new STR to market, what strategies do you use to get the maximum rent in the shortest period of time? In the first year, does it require runway to get renters vs. the established competition in the area? Does it matter if I'm a first time VRBO listing my property or should I hire an established "pro" management company, will they get my property leased faster than me? Thanks!


     Hey Michael, first of all, we always to try pre-lease the property... meaning, we gather photos as much as possible during the preparation, and get the listing online early, even without professional photos etc. 

    Discounting early reservations helps. PRO management companies know things that beginners simply don't, but still you should vet your vendor carefully and obtain multiple opinions!

    0Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Alexis W.:

    Would you recommend one's first STR be in one's home market or in a remote market, in a case when both are possible?

    I'm currently considering this question wrt saving up the down payment. I think it will be easier to learn with a property near my home however I can get started sooner by leveraging the 10% down second home mortgage. (I am financially prepared otherwise.) 

    My long term goal is to have STRs in a few cities. I'm leaning towards the remote option because I'm impatient and saving for 15 or 20 percent means several more months of saving. The remote location would be my childhood hometown.


    Depends, is your home market a strong place for STR?

    I live, work, and invest in Sacramento, CA. My company also serves Phx/Scottsdale, but I don't personally invest there because I consider it to be an unstable market. 

    If you live in an expensive place, investing elsewhere is another good way to take advantage of the economics. 

    1Reply
  • Noah Laker
    OP
    Real Estate Broker · Sacramento, CA · Member since 2021 · 518 posts · 408 votes
    3y
    Quote from @Yiwei Cheng:

    What are your biggest problems scaling from 30 to 100?


     Hardware and software was an issue. For example, our smart lock solution worked great at 30 listings, but by the time we hit 50 units it was glitchy and unstable. We had to make a huge expensive transition but it ultimately saved our entire operation. 

    0Reply
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