All Forum Posts by: Alan Asriants

@Scott E.

Love this reply, thank you for the details. I think the short term rental market (large single families/condos) will have to go down as well

Talk to your lender first. See what you would qualify for if you pull the Heloc first. They would be able to point you in the right direction.

I would agree with the posters here that pulling your Heloc would be the better option, but can't say for sure 

Hey BP, I have been talking to a lot of investors purchasing for AirBnB and even headed out west to see some new construction being valued for its AirBnB potential. Do you guys think this kind of investing (STR) is sustainable.

Couple thoughts of mine of why I think it could be volatile: 

1. Traveling is sometimes a trend. Tiktok has made it cool to go to one place one month and then another next month

2. Heard AirBnb is getting more strict with their regulations - larger companies/hotels are now listing their properties there. 

3. AirBnb is getting more expensive. Recently found that it was $200 cheaper to use Booking.com than AirBnB. The nightly cost was the same. After all the taxes and fees being charged on AirBnb it didn't make sense for a short trip. Possibly for a longer stay it could be justified. 

4. People are buying very expensive homes (1M and up) and hoping to get crazy returns - recession could impact how nice of a place people would rent. I hear lots of people who own airbnbs are getting most of their requests from 20 year olds looking to party in their mansion. 

Would love to hear what people have to say!

Completely agree with you about the Philly/PA market. COVID created a donut effect. Downtown prices have barely shifted and maybe even dipped during 2020-2023 while the suburbs, NE philly, roxborough have skyrocketed and are still climbing.

I'm sure there is a legal way of trying to get those items back but you would be dealing with small claims court. Count your lucky stars they are out and move on. Tbh, you probably woulnt get those back in great condition and probably have to pay to throw them out. 

Its possible you can have the windows covered, i guess it would be considered vandalism. Talk to your home insurance agent. 

Hope this helps

Those are some crazy margins. Are you seeing a lot of deals like this in NV? In my area there is no room. Could I ask what you renovated for 33k? Looks good

Like others have said here - talk to a Phila attorney. Once being late is ok, twice is a maybe, 3 times and they are just pulling your tail. Time to be strict but professional and move forward with eviction. 

Hey Michael! Congrats on your first investment! 

Some quick advice I can give knowing what I know now:

1. Learn as much building code as you can. you can buy a handbook from Home Depot. Contractors can sense if you don't know your stuff and will take advantage of every opportunity to do less and get away with some things. 

2. Don't cheap out on materials. It costs you the same amount of money installing $2 tile or a $.25 tile

3. Be there everyday. Stay on top of your renovation. Learn and absorb as much as possible. 

Best of luck. DM me if you need more advice! 

 Try to get something for market value. Use some seller's assist if need be. It's ok to overpay to account for the seller's assist but I wouldn't pay 50k more for a property worth 150K

 Is Petscreening a service?