All Forum Posts by: Noah Laker

We have major portfolios in Sacramento (NOT vacation market, more stable) as well as Phoenix/Scottsdale (vacation market, not stable right now)

VRBO only accounts for 16.5% of our bookings, but we are listed there. 

Yes, I have an amazing team of customer service, cleaning, maintenance, and admin employees. 

Because of the amazing team I referenced, I spend most of my time working remotely and rarely visit our properties personally, even the ones I own. 

Quote from @Account Closed:

Quote from @Noah Laker:

Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

Have you seen any drop in rates or occupancy, or is this guy just click bate?

Re:venture consulting says

"The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms."

 Absolutely yes, particularly in Phoenix where I host about 80 listings. Things dropped hard after April. 

It's gonna be a rough summer but thankfully we are diversified and we have cash reserves. So I'm not that stressed about it. I'm watching the less-prudent investors drop like flies around me...

 All of our properties are listing on Airbnb and VRBO, as well as some other direct marketing websites, Craigslist, Facebook Marketplace, JauntDirect, and some FurnishedFinder. 

 ulala. It's highly regional. In Arizona, it's in the vicinity of 25%. Q1 this year was really good because of the Super Bowl and other events, but things dropped hard after April. 

In NorCal where I'm based, we are less affected. 10-15% drop.

 My biz partner Shawn and I started with one condo in Sacramento. Then another... When that went well, we did a bit of arbitrage in Arizona, and then we started "Co-Hosting" (managing for other owners). The rest is history! 

Hey BP, with all the buzz about to-AirBnB or not-to-AirBnB, I wanted to throw my hat in the ring and introduce myself.

I am a real estate broker and investor in Northern California. I manage over 100 client properties, almost all of which are furnished STR.

Nothing is off limits. Ask me anything and I will do my best to provide helpful insight. 

Absolutely you can and should charge them, particularly if the lease specifically prohibited smoking -- and every lease should!!

For remediation, weed usually doesn't stick around much, but if they mix it with tobacco ("Blunt") it can be harder to get rid of. I recommend using an Ozone machine for all smoke odors, just read the instructions and be mindful of the safety concerns when using Ozone. You can buy these machines online for under $150.

In the worst cases, sometimes you have to change out carpet and repaint the walls. This combined with Ozone treatment should do the trick.

Good luck and try not to get stoned! LOL!

What's up Timothy. I'm a broker / investor in Northern California. Here are my thoughts...

Regarding the cork-backed vinyl plank flooring, it does have some benefits. The cork backing can provide additional insulation and soundproofing, which can be helpful in reducing noise from the busy highway nearby. As for concerns about water spills, modern cork-backed vinyl plank flooring is designed to be water-resistant, so it shouldn't absorb water or develop odors over time. However, it's always a good idea to follow manufacturer guidelines for cleaning and maintenance to ensure its longevity. If you're still uncertain, you could ask the company for specific information on the flooring's water resistance and durability.

Regarding the choice of green/aqua blue carpet in the bedrooms, it's always a matter of personal preference. While it may be less common, it can add a unique touch to the space and create a soothing ambiance. If you're unsure about tenant preferences, a flexible option could be to install vinyl plank flooring throughout and then add area rugs in green/aqua blue shades. This way, you can gauge tenant feedback and easily adjust the style to their preferences without committing to wall-to-wall carpeting.

Remember, it's important to consider both aesthetics and practicality when choosing flooring options for your rental property. Feel free to explore different options, gather input from potential tenants, and make a decision that aligns with your overall vision and rental market demands.

Hope this helps. :)

I manage over 100 Airbnb properties on the West Coast, as well as some MTR and LTR, and I can say we get a lot of MTR business through Airbnb (and VRBO). 

Definitely worth listing. You can use channel managers like Hospitable to synchronize your calendars between sites. 

We also use FurnishedFinder, Craigslist, Facebook groups, and we build partnerships with national relocation firms. 

Good luck!

I personally use KBKG for my cost segregation studies - Kbkg.com

For properties with a basis under ~$600,000 the report will only cost $450 if you use their self-help tool, and it takes like 5 minutes.

For larger properties you can schedule a consultation. Hope this helps!