All Forum Posts by: Jean H.

@Kevin Rivadeneyra I started an AirBnb Hosts Miami group for, surprise surprise, AirBnb hosts in Miami (and Ft Lauderdale) and we have a WhatsApp chat where we post booking requests like what you’re talking about. DM me your number and I can have you added to the chat.

@Nameer Kizi Welcome to Miami, Nameer!

If you want to have an affordable furnished place in Miami Beach, you might want to consider a coliving building like X Miami.

https://www.xmiami.co

You can rent a room in an apartment, or have a studio or apartment all to yourself, furnished or unfurnished, and also have amenities like a gym, pool, co working space, etc, for an affordable price.

I have no ties to X Miami but had a friend who lived there and was pretty impressed, and am now thinking of investing in coliving spaces.

There are also other coliving buildings in the area, but that’s the only I’ve been in.

@Stephen E. Have you tried asking the tenant if they want to buy the house?

@Chris Collins Love the AirBnb house hack. I started that way too.

Just wanted to say that I don’t think you can 1031 a property you live in. I think you have to move out and have it be 100% investment property before it would qualify as a 1031 property.

And then of course, there’s talk that Biden plans to abolish the 1031 exchange.

If I were you, I'd kick them both out, keep the furniture, and rent it as a 6 month furnished rental on Furnished Finders. Furnished Finders caters to traveling nurses, and because of Covid, we're getting a lot of traveling nurses that want a furnished medium term rental. You won't get as much as you would on Airbnb, but more than a regular long term rental. Might as well make use of the furniture she's leaving behind.

Of course, it depends on how big your unit is and whether it's near a major hospital.

@Padric Lynch As long you’re priced right and emphasize the lack of kitchen in the listing, ideally multiple times, you should be ok.

I had 2 units in a triplex that were 1/1s with no kitchens—just a microwave, stove and coffeemaker. They did have access to a shared laundry. I had no problems with occupancy because they were priced about 65% what my 2/1 with a full kitchen was priced at. Just be prepared for a lot of shorter stays as these are the people that don’t need a kitchen or laundry and would prefer the cheaper rate.

@Brandon Kingcaid My STR property manager was originally my designer for my STRs. She was a lead designer for Royal Caribbean Cruise Lines so has a great understanding of hospitality design. We've gotten great reviews based on her designs.

I love the way she works because she gives me a virtual design board based on a theme I pick with 3 different directions and price points. After I choose one, we then go to the next phase which is choosing the actual furnishings (from Amazon, Wayfair, Etsy, etc.) that would go with the design, so this is where you can make sure you stick to your furnishings budget.

Im sure if you just want a design for you to use to go shopping, she can do that without being local. PM me and I’ll give you her contact.

@Raymond J. Rodrigues @Kyle Mailloux As Ray mentioned, we host a MeetUp for short term rental investors and managers once a month. Go to MeetUp and look up Miami AirBnb Hosts. We’ve had virtual meetups since coronavirus started but still try to have good speakers for our hosts and networking as well.

@Kyle Mailloux I've been getting leads from my contractors. They know what I do so when they come across a motivated seller, they send them my way. Just closed on a 3/2 SFR last week that I'm going to BRRRR. Inherited property that was not bank financeable because roof leaks caused damage to the ceilings. Bought for $153,000. Will put $65,000 into it and with ARV of $325,000, hope to pull out all of my investment funds plus a little extra.

Keep at it. The deals are out there, even in South Florida.

@Keith A. Say no. There was no agreement. If they sue, just tell them you will counterclaim that they took down your fence without your consent and sue for damages (I.e the cost of replacing the fence to as-was condition). That should shut them up.