All Forum Posts by: Dan Johnson

Selling it makes you a double winner. Triple your money and a happier wife 

Hey Jonathan, I’ll second some important points made by folks in previous posts. First, just to go Air Bnb and act like you are a guest. Look at properties in your area, click on their calendars to get an idea of occupancy. Look at their prices and reviews too. Do this several times a year so you can get an idea of how bookings are in the summer, fall, winter, and spring.

I've heard Nashville is tricky for STR. I think you have to buy a property in a commercially zoned area, or buy a multi property, in order to use it as a non-owner occupied STR. Just make sure you understand the short term rental ordinances in Nashville before you buy.

I'd say buy in Myrtle Beach.

You mention that property prices in Myrtle beach are more affordable with comparable airbnb nightly rates. Sounds like you'll get a better return in Myrtle beach

Yes I agree with @Tarik Turner 4.25% is pretty good. And you already have that relationship with the hard money lender

Bookings in urban cities (Miami) are still down since Covid. Ft Lauderdale might be included in that group bc its so close to Miami. 

That’s the big question though: will bookings return to normal? Bookings are actually up in many smaller, rural or non urban markets by way of comparison. Personally I think bookings will return to normal once we are done with covid. But when will that be? It could be this year or next year or the year after that. 

I would say to just plan accordingly if you want to buy in Ft Lauderdale for STR use. Use very conservative booking revenue numbers/forecasts. Just plan for worst case scenario 1-2 years of mediocre STR bookings and if you can survive this you'll probably do well.

You’ve already down the best research you can do- Air DNA plus just looking at the calendars of current Air Bnb listings in your desired area. You might go one step further and contact a current Airbnb owner in your desired area and ask them about it. 

Don't do it. I signed up for her wholesaling class a few years back when I lived in Houston where she is based out of. After a few days I realized it wasn't for me...I didn't care for her tactics and her aggressive 'me-first' attitude. This is not somebody I want to do business with. Plus I decided to move out of state. I asked her for a pro-rated refund and she refused. She has no ethics- just greed.

A few benefits you provide to the seller: You will be managing the property for him/her. You will keep their property consistently clean and in great shape.

Express to the owner that your interests align with his/her interests. This is a business for you and you treat it as such. 

As an Air bnb host do you lose the reviews you have for a property if you sell that property?

I own & self manage several short term rental properties which are listed on Air Bnb. Let's say I have 500 reviews total for all my properties. I sell Property A, which I have 75 Air bnb reviews. When a potential guest views my property page and scrolls down to see the number of total reviews I have, will they still see 500 reviews? Or will my review total go down to 425?

I have several STR's and do not allow pets in any of them. I am thinking of allowing pets at one of my SFH STR's. I would ask any guest bringing a pet for a shot record to prove that they are a responsible pet owner. I'd also require that the pet is on flea & tick preventative. My biggest worry would be a dog that brings fleas into the house.

Any of you Air Bnb or VRBO hosts who allow pets. Has your STR ever been infested with fleas from a guest's pet? If so, how did you handle it?

Yup I second what John says. Your best protection is having sufficient insurance. Your umbrella insurance idea is also good, just in case. I'm not a lawyer and don't pretend to be one.