All Forum Posts by: Ian Tyndall

Kenzer, 

To your first question about liability, yes a LLC can help protect your assets from taken, but you have to manage it correctly. I recommend that you contact a lawyer to setup this process for you. You will want to transfer the deed for the home to the LLC. You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC. This is a bit more involved, but as you scale, it is something you should consider.

In response to your second question, I would say "yes" to allowing pets. They are coming to your property if you allow them or not (you cannot forbid service animals) 
Consider the facts: https://www.dogster.com/statistics/pet-travel-statistics-tre....

Top 12 Pet Travel Statistics
78% of American pet owners travel with their pets each year.
54% of cat and dog owners plan to travel with their pet.
58% of people would prefer to travel with their pet over a friend or family member.
52% of travelers base their travel plans on accommodating pets.
About 75% of luxury, mid-scale, and economy hotels allow pets.
In 2019, a total of 404,556 animals were transported by airline.
Nearly 64% of travelers prefer to travel with pets by car.
42.9% of people look for a destination with hiking and fresh air for pet travel.
Dogs make up 58% of the pets traveling around the world.
37% of owners take shorter vacations because of their pets.
10% of travelers have hidden their dogs to travel.
27% of dog owners go the extra mile for their pets.

Alec,
The free services go a long way to giving you a pretty good idea for what a property’s demand will be. I personally use Bnbcalc: 
https://bnbcalc.com/?fpr=1k54q

If you want to DM your address I can provide you with a free report from my tools (bnbcalc and AirDNA pro)

Hello!

Here is my link https://pricelabs.co/users/sign_up?referral=UZXgWm

Happy to help review settings or share unused property assessment credits if needed!

It could, but you could screen this location with PriceLabs.co as they use both airbnb and hotel rates to create revenue forecasts. I would imagine that the hotel marks up their rates to use airbnb a little to offset their service fees, so the net is pretty close to what you would expect. Airdna will give you a good estimate of the demand for the area. The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans. 

Tommy, are you asking for perspective on currently listed properties or looking to partner with someone on a purchase?

I would be happy to run some properties for you through AirDNA if you have a few in mind that you are vetting?

Yes, I have signed up and have a paid membership. I haven’t taken a trip yet, but I like the idea of having it available to me. I browsed sites today for an upcoming trip and their inventory is expanding. Once they on board more European hosts, I will get more use out of it. I have only had to host one guest, and they were great guests. 

That is crazy. Your revenue is 10% of the asking price which is the average. They shouldn’t need anything extra. They can verify via Airdna or other tools. Serious investors know this. 

I wouldn’t do it. It is easy to case a house from Zillow. Especially using full house tours. You can see the points of entry, window angles and camera locations. 
see the news link on this topic recently:

https://abc7.com/post/blurring-homes-google-maps-thieves-sea...

The Blue Ridge Parkway is also closed, even up in Virginia while the NPS assess the damage

https://www.nps.gov/blri/planyourvisit/gettingaround.htm

I think the spirit of what they are trying to do is good, but I can see these rules causing all kinds of issues down the road. 

I can drop VRBO in a heart beat and it won’t impact my business.