All Forum Posts by: Ariel Smith

Haha that's what I figured! It will be interesting to see what it sells for because list price doesn't tell us much. The market will dictate the price and especially at this time of year it is often a strategy to pull the price back well under the perceived value to drum up interest and give yourself more options for offers. 

I'd definitely keep an eye on it to see how quickly and for how much it sells.

@Brad Turley I honestly do not know very much about wholesaling, but a license will allow you to access the MLS which will be valuable. Keep in mind if you're looking to be licensed in order to save on any commissions, you will still need to hang your license under a brokerage in order for it to be considered "working" and you will then need to split the commission according to their policy.

I'd definitely check out a meet up though because there are usually a few experienced wholesalers in attendance.

@Diane G. I think you may have sent the wrong link. The condo you sent hasn't been sold since 2010 and is not on the market. You may be referring to unit 502 which is currently active? 

@Brian Roth Have you checked out Airdna.co? They have a lot of useful data points pulled from Airbnb. I'd check it out and see what the averages are for your area to give you a starting point.

Also, not too sure about your current insurance but Airbnb does have a $1 million host guarantee policy as well as an insurance policy for hosts that is covered in each booking. So far, we've had no trouble with our property just using Airbnb's insurance guarantees. 

I'd be happy to chat more Airbnb with you as I currently manage two properties. However, I'm not specifically familiar with your area. Best of luck!

@Blair Russell I'll PM you!

Hi @Brad Turley! I'd check out the networking events section as there are lots of bay area meetups:

https://www.biggerpockets.com/forums/521-events-an...

Many wholesalers attend these events and they are great opportunities to meet people!

@Blair Russell Are you looking in the Las Vegas area? I might have a connection for you

Hi @Vash P. you can find all of this information on Airdna by simply creating a free account. No need to buy reports to gather this info you're looking for.

I'd caution to estimate lower than the amounts shown to you. Airdna gets its data by scraping Airbnb, but occupancy rates can be completely inaccurate because it has no way to indicate an actual reservation versus a blocked date on the calendar. 

@Shannon McKenna I agree that the largest risk an owner will see in doing this is the liability for "unknown" tenants in the property. It will be crucial that you agree to take responsibility for the guests and any damages done by them. 

You also run the risk of them choosing to cut you out of the profits eventually and just do the Airbnb themselves...

Are you planning to live in the property and rent out spare rooms or rent out the house as a single property?

@Chatree C. yes, stainless appliances will absolutely command more rent assuming the rest of your kitchen is updated