All Forum Posts by: Noah Laker

Hi! I currently own a 3BR/2Bath home with finished basement. I would like to get into AirBNB business using the basement. Right now it doesn't have it's own bathroom and kitchen. Would it be a good idea to list it now as shared kitchen and bathroom OR should I invest in getting it set up for bathroom and kitchen first? Thank you!

Why haven't you left California? 

 By Primary, do you mean the listings under YOUR Airbnb account and you own the listing? So if they were to switch managers, they would lose that listing and review. Sorry for the confusion. And are you using the new co-host payment feature?

I manage 11 properties, we help them create their own account during onboarding, and we are set as the co-host within airbnb. VRBO they just have to share login with us, then we connect to hospitable.

I have gone back and forth whether this is the correct way moving forward as we scale.

I also use Hospitable and it has just plained work well. I wish it has some type of owner reporting feature instead of just the spreadsheet. Are you manually creating invoices in something like quickbooks as I am doing now?

We should definitly connect sometime. We're in the same ship.

Wow @Noah Laker! That's awesome. What systems do you have in place that you feel sets up apart from other managers, and helps you manage all the properties well? 

Which counties do you operate in? Lots of county wide legislation already in California and it seems like there is more to come. 

Hi everyone,

My wife and I have been in the STR space for a while now and are looking to shift towards long-term rentals. The market in Sacramento is pretty competitive, so we've been thinking about purchasing infill lots to build new SFHs to add to our portfolio. I've done a ton of reading/research and have learned a lot of useful information, especially from many of the posts here on BP, so I'm grateful for the tons of knowledge made available within this community!

Our plan is to purchase an infill lot with cash and take a construction loan out for the build. The issue I'm running into with the lots I've found, and I've looked at several different areas within and surrounding Sacramento County, is that the numbers don't pencil out. 

For example, this available lot at https://www.zillow.com/homedet... is listed for $159k. Accounting for $25k in building permits, school zone fees, etc, would already put it at $184k. We'd consider building a 1500 sqft home on the lot @ $250/sqft, so that would total out to $559K  ($375k build budget + $184k purchase/permits). I ran some comps around the area and the average price per sqft on home sold within 12 months is $336/sqft (average price sold of selected homes was $405k). So taking that figure, the after build value estimation would be around the ball park of $504k, which would put us in the negative.

So my questions are: Am I approaching this wrong or are my figures off? Are new home/builds valued differently? Assuming the response may be that the lot is over priced; therefore, I would need the seller to reduce the selling price by 55k just to break even in this situation, but I dont see that happening. So would I need to resort to wholesellers to get a better deal on lots? Lastly, with rates being so high, would this even be a good time to explore this idea? Even when I'm looking at purchasing to rent LT, the area rents typically don't cover the mortgage expense.

Any insights is greatly appreciated and thank you in advance!

How steady are the returns? Are you seeing consistent numbers YoY?

I understand that seasons play a role, but can you expect the same figures next June?

What business model does your management company use for clients? Do you own the listings under one account? Or do the owners have their own accounts and you as co-host?

Also, what PMS have you found works best at your scale?