All Forum Posts by: Bruce Woodruff

1) Trip to the City Planning/Building Department(s)

2) Get an Architect/Engineer team on board

3) Hire a General Contractor that has experience doing exactly what you are doing (building 4 unit structures)

Either wait until you're married or start a LLC, Corporation or Partnership (drawn up by a Lawyer of course) This way, in case you split, you're both protected...and pay down that student debt ASAP...!

As they said ^^^^ money is your strongest weapon. Offer it as a carrot or threaten with it like a stick, but it should get the attention of most people...

Good Luck!!

Quote from @Todd Goedeke:

@Francina Peralta do it only in vacation areas where you have a high season of greater than 3-4 months. Sign a long triple net lease with owner to protect your furnishings investment.

"Sign a long triple net lease with owner to protect your furnishings investment."
That sounds fine....but what if the municipality 'all of a sudden' goes on an anti-STR run? This is the trend nationally in recent times....
You, the arbitrager, are now locked into a long-term contract.......

Quote from @Jason Eyerly:

Quote from @Michael Baum:

Yeah, all that can happen is you go bankrupt, get sued and have to go live under a rock somewhere.

I wish any and all trying to do arbitrage but realistically, oftentimes it is worse than a crap shoot.

I know 3 people that went bankrupt doing arbitrage and one is still embroiled in a nasty lawsuit. 

Right now, it will be the toughest it has ever been to be successful at arbitrage so just make sure you have a lot socked away when/if things go south.

Interesting. Assuming you have STR insurance and it's a straight cash deal please explain how you go bankrupt? Three people going bankrupt is pretty astounding. 

If you have absolutely nothing go wrong, then I suppose it could be ok. I doubt you'll make $4k a month, every month, but that would sure be nice!

I must say......sometimes even I will use 'Airbnb' as a descriptive when talking to people who have zero knowledge of the industry. I figured if I use the correct terms, vacation rental or STR, they will just glaze over and I'll waste breath explaining.......

Sorry, John..... ;-)

Quote from @Francina Peralta:

Thoughts on Airbnb arbitrage? Has anyone done this in chicago? Cons / benefits? There are courses offered online, are they worth it?

Do a search on this here on the forum. This has been asked a hundred times. You will see that the answer is generally that is not a great idea, not worth doing. It is considered just running a business, not being in real estate..... There are easier and less risky ways to make money.

Stay in the trades and save up money$$$. Learn as much as you can about all the trades. Get your own license and company when you gain experience and age....

No secrets here, just get a good plan and stick with it. Be patient, it takes time, particularly if you are starting with little or no cash.....

But anyone can be successful.....

Quote from @Jon Martin:

While I agree with your rationale, there are some incredibly successful investors in the space who still call their properties “airbnbs”. It is what it is. 

While I agree with your rationale, there are some incredibly successful investors in the space who still call their properties “airbnbs”. It is what it is.

Agree, but I find that the newer investors that just use the term AirBnB, do not realize that there are other platforms out there that are a very viable option, and they could be missing out on business. For instance, VRBO tends to attract older travellers who have more time, more money and are 'gentler' guests. And if you ignore a platform like this, it could mean failure for your business.....although I am not a 'word-nazi', I think that it is important for people to use the correct terms for their business...

Quote from @Kevin Park:

Hi everyone,

I'm a small developer and project manager based in the DC/MD/VA area, currently managing a residential project in Bethesda, MD. We handle permits, materials, and logistics in-house, and are looking for a reliable labor-only crew to support the next phases of work — starting with window installation, followed by framing, drywall, and more.

We’re not seeking a full GC — just a skilled, dependable crew comfortable working under our coordination on a day-rate or weekly labor basis. This could turn into ongoing work if it’s a good fit, as we have multiple projects in the pipeline.

General liability insurance is required. We’re happy to start with a short trial scope to make sure it’s a good match on both sides.

If you’re interested or can recommend someone, feel free to DM me or reply here. Appreciate any leads and looking forward to connecting.

Thanks,
Kevin

Just curious how you do your framing and drywall after you put the windows in? 

Also I think you're going to end up with the general contractor of some sort. I've never heard of a company that's just provides labor...... Except for the temp labor companies. Have you tried them?