All Forum Posts by: Aaron T.

Originally posted by @Justin Ceballos:

Hello From Puerto Rico. Just learning and getting into wholesaling. Currently operating two air bbs 

I live in Camuy. (Northern PR.)

It’s my 6th year living here.

Justin, how you doing for occupancy on your BNBs? we are buying our first bnb in PR this year.  

Originally posted by @James Carlson:

Definitely give Proper Insurance a call. They're the best out there our book and cover both sides of our duplex that we Airbnb/short-term rent in Colorado Springs. Always better to go with a company that specializes in short-term rental insurance so you have the comfort of knowing for sure that you're covered. 

 We have proper as well in COS. 

Originally posted by @Arthur P.:

@Aaron T. Where are you taking your money? I see your from Tampa. What do you think the market is doing there?

I planned on buying a few properties while in COS, however with the STR Laws changing, it limits my business strategy. I have properties in tampa as well. Tampa market is also growing, but has slowed over the past couple years.

remember some of these laws have not been updated for years, so they are often not enforced unless a lot of people are screwing up or complaining. You can always go to the city or county sites to see their rules. 

Their devastating condition is a direct result of the corruption of the government of PR. DIdn't you watch the news after the hurricane? They need to clean house and spend the money we give them on shoring up the infrastructure instead of padding their pockets. Investing in a place like that is like investing in Detroit. Silliness at best.

 Mike, 

apples and oranges. The political environment has nothing to do with residential housing. Housing crumbling is for a couple reasons. 1. they are made of concrete to include the roof. This is great for hurricanes, and not so great for lateral movement of the ground shaking. 2. some of the places were built, but did not take any codes into consideration, so they ended up crumbling as a result. 

Yes, the political situation needs improving. Yes, the people need to get back to work again to pay taxes to fund the programs, but that is a whole other issue. 

hold on to them, unless you are looking to get out of the market. If you try and sell now, people will try to low ball you. if they get damaged, insurance will cover it. 

If you want to sell me your Rincon property. :)

Rincon is priced high. Most of the people that are selling are investors and not willing to take much of a discount. Right now they are having earthquakes, so good luck with insurance at the moment.

lastly, if you are going to finance on the island, then you will need to use a bank that is located on the island.

Too much uncertainty in COS. I am taking my money elsewhere. The city council has turned me off from buying anything else in the city.

We have split lots in the city of tampa. it takes a variance and justifying it to the city. If its a deal, then look for a JV money partner to fund the lot.

Originally posted by @Lauren Kormylo:

Speaking as a customer of STRs, I think you'd do better if you got rid of 2 queen beds and put in king beds instead.  Your photo of the group around the campfire shows many adults sharing the house.  My sister and I along with our husbands like to meet for vacations in different states, and we all want to sleep in king sized beds.  We don't want queens - they are smaller than we have at home and we don't want that on vacation.   Put in all kings, and have one bedroom with 4 twin bunk beds for the kids.  

Your photos look great, and your house is beautiful.  I can't say about pricing, because I have never been to Alaska.  Is there anyway to contact your previous customers to remind them you'd love to have their repeat business?

I doubt his lack of guests are because of the difference between a king and queen beds. Plus, the cost of converting over beds, linens, mattresses, etc... may not make sense in the ROI. He can see what other rentals have, and if they are all listing king beds, then it may be something to look at.