All Forum Posts by: Bailey Kramer

@Wilson Hunter Thanks for your feedback! The two properties that I own are with a group of investors and then I also manage those properties. The goal is to use Co-Hosting as a way to build capital and ultimately purchase more properties. 

@Jon Tungsten After paying employees, the net profit before taxes is about $11K. 

Hi @Villy Ellinger! Thanks for your questions and congrats on the STR's that you own.

Here are the answers to your questions below: 

1) I have 3 employees who will assist with maintenance issues and guest complaints. I am always here as a resource if they need assistance. I have a spending limit where if it is under a certain amount, I have the power to get the repair fixed with their credit card. If above that amount, I will go the homeowner and discuss the repair that needs to be done. I have not had issues with homeowners on repairs as it's so important that everything is working in the home. 

2) It is state specific, but typically Airbnb or VRBO collects those taxes. 

3) When I first got started, I was the one who was managing, hiring and paying the cleaners myself. Now that I have 3 employees, those responsibilities are on my employees and I am focused on acquiring more clients. With July, we had 20 that were active and then 10 that are in the process to be setup to launch hopefully this month. It is hard to give a time limit as I am overseeing the business while my employees are running the day to day. If they have an issue that they can't handle, they will come to me for help. 

4) A lawyer would be the best person to answer this! The owner is the one who has STR insurance - Typically Proper Insurance.

@Patricia Berman Appreciate it!

@Luke Carl I own 2 with partners and also manage those. The remaining 28 units are through Co-hosting. 

@Lucie Tighe Thank you!

@John Underwood Thank you and really enjoy it! 

@Ryan Moyer Great question! My business is solely off of referrals and I try to stick to the markets that I am already in. Also some of the investors I work with have multiple properties and then I will co-host any new property they purchase as well. 

@Trish Mccoy Thank you - I manage 30 Co-Hosting properties! 

I JUST HAD MY BIGGEST MONTH CO-HOSTING

I launched my 1st Airbnb on July 1st, 2021. 

I didn't launch my 2nd Airbnb until November of 2021 (I didn't take it very seriously and didn't know it could actually be a real business!! 

Silly me!!)

This past month my properties that I co-host brought in a total of $147,437.73!!

From that, my cut was $16,892.73

Why am I SO PUMPED about this????

I didn't actually start taking this biz seriously until November of 2021 and it TOOK OFF when I took it seriously

I have a team of 3 rockstars that run the day-to-day operations so I don't work in the biz, I work ON the biz!

This past month I moved to a different state, hung out with family & friends and my business didn't skip a beat!!!

Feeling grateful for how real estate truly changes your life.