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All Forum Posts by: Aaron T.

Aaron T. has started 43 posts and replied 757 times.

Post: Do I need a business license to start Airbnb?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Here in FL we do not. I would check your state laws. My CPA says the STR is just like an annual rental for tax purposes.

Post: Negotiating buying in service VR

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @John Underwood:

@Aaron T.

I wouldn't pay a huge premium over what the place is actually worth. I know Homeaway / VRBO doesn't allow someone to take over your account so you have to start over with a new account and no reviews. Not sure what Airbnb allows. It would be helpful to see that a particular property and location was successful as a VRBO. But you have set one up before and can surely do it again whether the house you want to buy is currently a VRBO or not.

I would think the bank is only going to approve the loan on what the house is worth based on comps and I would not overpay for any property.

What if they banned VR's in your area after you bought it and you paid a premium  based on it already being a cash generating VR?

So I would approach the value on what the comps say plus any furniture / equipment that is included given that this stuff is used.

John, you and I seem to be on the same thought process. I did not know if anyone was paying anything different for a successful in service unit, so I turned to my VR peers for their thoughts.

Thanks for the info on taking over an account. I was hoping I could, but did not put any research into it up until this point. I will check with Airbnb. 90+% of my VR guests come from Airbnb.

If VRs were banned, I could use it as a annual rental and cash flow. Tampa is friendly to VRs and UBER and the such, so I don't think the VR market will go away anytime soon.

Post: Negotiating buying in service VR

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

I am looking to buy another VR. This property [SFR] is already in service as a successful VR. Looking for advice on how negotiate buying an in-service Airbnb.

I figured a starting point would be the Comps for the property itself, then furniture. The part I am unsure of is, how much should/would you pay for acquiring the current operations?

Post: Airbnb Property Managers

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

thank you for this thread. I am interested in looking into the TURO option for my VR. If anyone has additional info or blogs that talk about this, please post a link.

Post: Temporary and Corporate Housing

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @James Phan:

@Aaron: What do you mean the percentage? 

 If I were to list my property with a corporate office, they would take a percentage of using their name and service to be listed with them.

Post: Need some advice on vacation homes

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Brian, it would help if you had more pointed questions. Then we can help dial you into a good answer.

Post: Temporary and Corporate Housing

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

I looked at our local corporate rental market, but realized that the percentage (10%) would take was more than I would be willing to give. I stay full just on the Airbnb guests.

Post: Tampa Bay Real Estate Market

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

those numbers are also why the prices are elevated more than they should be. sellers market for sure.

Post: Florida Homeowners Insurance Recommendations?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

I would call an insurance broker. then they can shop the best rates with many companies. you will probably end up with Heratige or one of the other florida backed insurance companies.

Post: Airbnb Occupancy Rate?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Ronald Rohde:

As an Airbnb host, the glaring factor I haven't seen you mention is your time. Or whoever is going to be answering emails, texts and phone calls. check in, directions, repairs, etc. For Dallas, we're making 1-2k above long term tenants, but I keep my time below 4-6 hours a month. That makes it worth the extra hassle.

Once we got the our unit furnished and up and running. I spend maybe 2 minutes a booking when I get an alert. all the work is done with my thumbs. I think I booked a guest while I was on the bus heading up to Machu Picchu last month.