All Forum Posts by: Alexander Krasne

I recently finished a major renovation on my commercial property where I own my business (dental office). The original appraisal cost $5,000.  After upgrading the office I would like to know what the new value is especially in case I can get access to a LoC or refi based on the new value.

Would a new appraisal cost as much or are there less expensive options since the property is not being sold? 

If you have any recommendations for people to reach out to please let me know. 

Thank you! 

 Thanks for your input. We could shorten the days but we don't have consistent staff for apartment turnover. Do you contract w a service? 

And yes our rates are very competitive with other similar listings as others in the area if not a little lower. 

@Luke Carl, thanks!  We really bought the house because neither of my wife's or my families live nearby and we wanted a place for them that they still had to knock on the door to come in.  Then all of a sudden this started working and it went from beer money to Wow this is paying off our mortgage money, which is pretty cool.  So, it's definitely a new experience for us.

@Luke Carl, correct.  AVL has allowed owner occupied AirBnBs and we had a basement unit we made legal.  We've been doing this for about 4-5 months so what is your definition of being an old hand.  

How do you correlate your VRBO and AirBnb bookings?  Also, I want to point out I am not complaining about less bookings just wanted successful strategies you guys have seen in case I am missing something.

Thanks for all the insight.

I imagine this topic has been discussed multiple times on this forum... so, what is one more?

My wife and I have an AirBnb we host out of our house.  It is a completely separate 2 br/ 1 ba apartment in a very touristy area (if anyone knows Asheville then you get it).  Anyways, we had a lot of very consistent bookings for the first few months and have great reviews (17 five stars, and achieved SuperHost Status).  We also got professional photographs etc.  Lately it feels like there's been a big slow down.  We use BeyondPricing to help adjust rates.  

According to the data out there it seems like maybe its just a combo of the down season and also a glut in the market (around the holidays there was a 50% vacancy rate).  We have not expanded beyond AirBnb to VRBO or other vacation sites yet.

Any advice would be greatly appreciated.  I would love to know what other people in similar situations have done!

I am looking for a new deal and one of the ongoing themes that investors like to find is an area with a good school district.  Understandably it means a more stable tenant with a family that may treat your property better.  

I am curious what you define as a good school district?  Do you base it solely off the locations GreatSchools score? (and if so what is your lowest number?) Or are there other metrics that one should be looking for.  

Many times I feel those scores do not paint an accurate picture (whether too low or too high) of the true demographic of the neighborhood.

Thank you for your help!