Does Anyone have Air Bnb rentals
I am thinking of leasing an apartment in the Philadelphia area and listing it on Air Bnb (with consent of the landlord of course). Has anyone had experience doing this and would you please share you’re experience and some advice?
Best,
Aristone Louxz
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@Aristone Louxz you’ll get lots of hate around here for this method. It has a name it’s called arbitrage. Search the forum for it.
You’re looking for the Brian Page bnb Formula.
Good luck!!
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@Aristone Louxz you’ll get lots of hate around here for this method. It has a name it’s called arbitrage. Search the forum for it.
You’re looking for the Brian Page bnb Formula.
Good luck!!
Originally posted by @Luke Carl:@Aristone Louxz you’ll get lots of hate around here for this method. It has a name it’s called arbitrage. Search the forum for it.
You’re looking for the Brian Page bnb Formula.
Good luck!!
Thanks! I have yet to do it but I heard someone talk about this method on a youtube channel and it sounds appealing to me since it costs way less to start. I have a rental property but I am always looking for alternative ways too invest.
Best,
Aristone Louxz
@Aristone Louxz Either @Paul Sandhu and @Lucas Carl can read each other's mind or they are the same person but don't know it.
Aristone, there are plenty of people who do Airbnb Arbitrage. I looked into it briefly and passed on it. Check out Airbnb Automated on Youtube, very informative. Good luck.
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Arbitrage is not a good idea as everyone else is saying.
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Originally posted by @Aristone Louxz:I have a rental property but I am always looking for alternative ways too invest.
When your rental property is going to be vacant, turn it into a STR. I have 14 apartments that had long term tenants in them. Over the course of 6-8 years, when a tenant moved out I turned it into a STR. One lady was going to get married and move away to live with her husband in his house. I bought everything that lady had in the apartment except her clothes. I had to buy some towels, detergent, pillows and sheets; but those are pretty minor items. It went from $400/month to $400/week in a few weeks.
So what I'm saying is to buy your current tenants furniture and appliances when they move out. You'd be buying them anyway to furnish it. This way there is no effort in moving things around. Call me lazy, but I call myself efficient.
Arbitrage sounds appealing but I suspect the vast majority of those claiming to be successful are probably cheating in a variety of ways.
Easy money typically involves something immoral or illegal. Slow and steady wins the race.
@Aristone Louxz - Rental arbitrage is legal with the landlord’s consent. It requires some investment but can be quite profitable. Some smart and successful furnished rental owners like @Paul Sandhu and @Luke Carl don’t like it, but there are hundreds of folks doing it successfully. Two years ago I stepped away from 20 years in corporate America to build a rental arbitrage business in San Francisco and just south. Now I am managing 20 units and earning a decent living. My landlord partners frequently bring me new properties because they great corporate tenants and free property management.
Check out posts and info from my mentors @Al Williamson and @J. Martin, and read the book by Scott Shatford. They are arbitrage masters.This business is NOT passive and it’s NOT easy money. But if you rent good properties, use great photos, enjoy hard work and take good care of your guests, it can be fun and lucrative. Good luck!
@Aristone Louxz Just make sure you have a good attorney just in case things go sour. Now my question is: Do you have a lease agreement in your personal name or through your business?
I'm speaking about monthly rental here as STR is not allowed in SF unless you live in the unit itself. It's not too much risks for the lease holders, except when they have vacant days in between months. For the home owners however, it could get very risky. If a (monthly) tenant squats, it would become the homeowners problem. Not to say it happens often, but there is potential of this kind of thing happening.
Originally posted by @Ethan Cooke:@Aristone Louxz - Rental arbitrage is legal with the landlord’s consent. It requires some investment but can be quite profitable. Some smart and successful furnished rental owners like @Paul Sandhu and @Luke Carl don’t like it, but there are hundreds of folks doing it successfully. Two years ago I stepped away from 20 years in corporate America to build a rental arbitrage business in San Francisco and just south. Now I am managing 20 units and earning a decent living. My landlord partners frequently bring me new properties because they great corporate tenants and free property management.
Check out posts and info from my mentors @Al Williamson and @J. Martin, and read the book by Scott Shatford. They are arbitrage masters.This business is NOT passive and it’s NOT easy money. But if you rent good properties, use great photos, enjoy hard work and take good care of your guests, it can be fun and lucrative. Good luck!
Thank you so much for the information and congratulations on the big career change. I'll be sure to check out the mentors you mentioned above. I love hearing peoples success stories so, again, congratulations!
Aristone Louxz
it is better to hear failure stories. Way too much optimism and not enough wisdom
There is nothing unethical or illegal regarding arbitrage, as long this is disclosed to the landlord. I have never done this myself; but I have seen it done. I had a client that was doing this until I secured him full time tenants. He made a much larger profit, doing AirbnB than I make him as a standard rental.
@Nathan G. There is no cheating or anything illegal about doing rental arbitrage if you keep transparent communication with the landlords. I work with perfectly happy landlords, investors, and guests while keeping everything legal and honest.