All Forum Posts by: Andrew Wong

I have drip coffee. I don't supply tea bags, or coffee beans or anything. It's a potential liability for me right? What if they get sick based off of the food you provide?

Also the less stuff I have in the unit, the less I have to restock, and the more I get to save!

@Jared Higginbotham, what do you mean by disconnect from the property? 

Wondering what you guys use!

I've had some bad experiences early on with people who do not have AirBnB reviews, and it kind of turned me off. Do you guys filter with recommendations from hosts? Also government issued ID?

From your experience, are they actually useful or not to get an indication of how easy to deal with a potential guest?

Looking for some tips on how others adjust their vacation rental prices.

My situation is that I have about six rentals, three in one area and three in another area. I try to aim for 30+ day stays. 

I know people look on AirBnB at competitors around the place, and see what prices they are putting so that you can be competitive. 

How often do you guys check?

Do you guys just select a few good competitors in the area and see what they do?

Do you track prices across time to see what's good for what season? If so, how?

I don't know what else to ask, just looking for general tips on what you guys do.

EDIT: Not sure how to delete this but found the thread I wanted: https://www.biggerpockets.com/forums/530/topics/460056-anyone-using-automated-pricing-tools

@Chris Moore, sometimes corporations looking for companies reach out to me, or I reach out to them.

Money.

But no, nothing that interesting since my cleaners just throw stuff out and I don't know anything much. How do people leave a queen size bed frame and a glock though, that's crazy.

@Dexter Crawford, it's nto to say that I'm still hands on right now. I feel it is very important to know the ins and outs of your business before out sourcing, else how do you know that the people you've outsourced to are doing a good job?

I cleaned my first few turn overs before hiring cleaners. Did my own laundry before figuring out a good cadence to hire launderers. Now I hire builders and movers, and have someone managing the move in.

@Yolanda Columbus, I'd suggest don't listen to @Paul Sandhu. I barely knew what I was doing when I started with my business partner. You don't need to be an expert in furnishing and marketing before you sign a lease. 

Maybe I'm naive, or my units suck, but I furnished my first unit in about four days, built everything by hand, bought everything myself. Maybe not the most efficient but I got it done without much issues and it looked nice and became my best performing unit.

I guess it depends on how big your area is. As Paul said, if youre in a small area there is definitely someone who may be able to run you out of business.

Luckily I live in a place where there is plenty of space for competition.

The "worst case" scenario is you lose 12 months of rent, and now you have some furniture. Better than getting a house repossessed by the bank because you defaulted on your mortgage.

I cater to corporate travelers. I'd get the duplex.

I'd rather get the fourplex with each unit being 1B1B though :)