All Forum Posts by: Laura Winters

 Hello Michael, that is great that you got only 5 stars for 8 years but that doesn’t mean anything. You could have less than 50 or 100 reviews for running 8 years. I usually get 1 or 2 review every day and I know that receiving a below 5 star review is matter of when not will/ will not. Best hotels in Dubai or Paris still get bad reviews. Once again that is not the point of this thread. 

You don’t make money on section 8 properties by rental value. You get massive tax credits for participating the affordable housing sector. The beauty is you don’t need to have 100% of your multi-dwelling unit to get this benefit. Depends on the state and city but they usually only require a certain % to participate and they don’t care how you run other portions of the property. Also you get massive credits + funds when you develop these houses. It isn’t making money because you are treating a different beast in a tame way. Section 8 / affordable housing is not something for RE newbie to touch. The people, law, and property are all challenging. 

Tax is where you make money in RE investing world period

Have you heard about Bait and Switch? 

It is even in a dictionary!

Finding a good/honest lender is so crucial

 You get bad reviews no matter how well you run your property. If you haven't, you will eventually get one. Even Chick-Fil-A doesn't have a straight 5-star rating with their my pleasure. Fighting bad reviews is the life of any business owner. Besides, that is not the point of my post. Surprised to see a popular host say something like this. 

Larger units always win. You get better customers, lower competition, don't need to worry about hotel expansions... Larger units are a lot more difficult and expensive to start, but a lot easier to manage once running. Smaller units might have a better income, but there are a lot of small added expenses. 

Especially in the lake area, I will 100% go with a larger unit. Do you want to deal with addicts and partiers or a nice family or business group coming for a boat tour? The answer is simple.

I just watched the Geo Dome video. I bet that cash flow is crazy since expenses are low. The issue is that there is no depreciation or appreciation, which is the major attraction for RE investors. It is more about attraction than real estate, which is also fine. However, if I spend $125,000, I need them to appreciate and depreicate every year. 

Is $110K/year in profit or revenue? $110K/year revenue is not that impressive for STR. Unique features create unique expenses, so you are actually making less than regular STR as well (extra cleaning fees, difficulty of replacing & repairing broken or missing items). I can only imagine how difficult it is to replace one of the windows at those properties and since you are heavily relying on that feature, your listing is automatically shut down during the repair time. I am not saying what you are doing is a bad thing, but please don't advertise with omitted information. Creating a memorable experience is a great thing but it doesn't mean it makes money.

Airbnb review removal system just changed. Now you need to place a ticket and go through the computerized system to choose why you are appealing the review. This means that the old tactic of calling until you find the person who will help you doesn't work anymore. I believe this is a step toward the AI system. I just placed an appeal so we will see if this is easier than going through Airbnb support team. Good luck everyone!

Wonder if they will refund my fee!