All Forum Posts by: J. Martin

@Brie Schmidt,

It was inspiring what you did and shared on your podcast, and talking to you later - I thought - how old is this chick?! She's crushing it!! What am I doing..?

RE: "Spoke at my first National RE Conference in San Francisco (thanks ) and got to meet SO MANY incredible people that I had only know virtually up until that point"

Thanks for the shoutout, and so glad the SF Bay Summit could get everyone together :)  The venue has been a hassle canceling dates for 2017, but should have an announcement soon. It's so great to see everyone, so looking forward to seeing everyone and having you out again :)

Congrats on kicking ***!! I never thought I would be where I am today this early either, and have a lot of thanks to BP for pushing me in that direction..

Cheers Brie!

@Stu Waters and @Shannon Shue,

I have about 5-12 people scheduled for the groups so far, and might be partnering with HomeSuite to host a dinner on one of these evening. Please join an we'll have a round table with other experienced hosts! This is where it's at! Friday night will be the busiest meeting..

Thursday, November 17, 2016 from 5:00 PM to 7:00 PM

https://www.eventbrite.com/e/airbnb-open-pros-host...

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Friday Dinner: Friday, November 18, 2016 6:15 PM

https://www.eventbrite.com/e/airbnb-open-pros-host...

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Sunday Brunch: Sunday, November 20, 2016 from 10:30 AM to 12:15 PM

https://www.eventbrite.com/e/airbnb-open-pros-brun...

My number is in my profile. Just send me a colleague request..

 Victoria,

Trash and utilities are just one of many expenses that are part of your operating P&L, and I'm not aware of anything that would allow you to pass those costs on beyond normal rent control rules in Oakland. Yes, they have been going up fast. There's something about if you are getting an "unfair" return, you can petition, but haven't heard of any successful attempts. Someone also tried to sue the city of Oakland over the increase and requiring everyone to use them. But don't think that has gone anywhere. Cost of doing business.

You can pass on 1/2 of the rent board fee still I believe (check after election). Banked rents. Capital pass-throughs. But no provisions for increase in utility/trash costs I am aware of.

Sorry I don't have a happier answer for you!! :-/

@Ket Pat,

Be sure to mozy down to  Milpitas for @Johnson H. 's meetup coming up on the 15th if I remember correctly. Great group of people :)

I own up in Oakland and Richmond. I like the East Bay a lot. But I'm starting to like Silicon Valley more and more.. (just gotta find a good time to get in..)

@Johnson H.,

Sorry I can't make it again! Will be down in LA for AirbnbOpen for the week after hanging out in Monterey next week (will slowly make my way down Hwy 1 ;)

Wish I could be there! 82 people! You're going to have to get a new venue! :)
Have fun! Wish I could be there :)

 Glad I could add a little inspiration Scott ;) Many investors have lost everything much later in life, and still are way ahead of where they could have ever dreamed. So you're not too far behind. Most of my success has come in the last few years. And I was just some punk-*** kid working a state job.

Thanks to @David Oldenburg for putting on such a great meetup, inviting me out, and the enthusiastic members who were up to share! (and the beautiful scenery at the county club ;)

@Andrew McConnell,

AirDna is a great resource. In addition to the data, Scott Shatford wrote a great "playbook" that's free when you email subscribe. I believe he was also recently convicted of a misdemeanor for illegally renting short term rentals. Pushing the boundaries!!

 Hi Scott.
Be sure to talk to @Al Williamson up in Sacramento on his furnished rentals. He has an "Airbnb for Landlords" course also that will give you the ropes, and he throws in some coaching I believe, if you're nice ;)  It's a great industry :)

@Christine Roush,

Welcome out to the Bay! New home, new strategy. You're not in the desert anymore! lol (Dorothy reference, but not great lol). Despite the difficulties with the high prices, it creates opportunities also.. All the info is in my profile if you want to come out and meet other folks. @Johnson H. also has a great meetup down in Milpitas. And @Jeff Pollack in San Jose. (take a drive!) I definitely enjoy meeting investors all over, and think it's well worth the time.

@Ashley Watkins,

I heard that I might have hired someone to help me plan the 2017 Summit, but no "official" announcements yet ;) Thanks for the shout out!

@Zachary A.,

I'm driving up to Rocklin tomorrow to speak at @David Oldenburg's meetup on this exact topic tomorrow night! Come out and join us!

I have 15 furnished rentals here in the SF Bay Area and have some tips. Like @Jake Knight said, you could most likely spend less on furniture (I spend ~3-5K on small apartments.) Although I would bump up your TV spending a lot.

You put $125 for a premium TV. You should put a minimum 55" TV in the living room, and should be a SMART TV so you can include Netflix or they can watch their own stuff. They cost around $400-600, including a nice mount. I also found that TV-loving Americans prefer a TV in their bedroom also. They like lounging around or watching before bed. Also make them feel more like they have their own self-contained private space in their room. I almost always put small TV' in the bedroom also (32"). You can save some money off the $40k furnishing bill and spend a little more on the TV's. (I personally do not have a TV in my residence, but own about 30 TV's lol)

I also recommend putting an electronic code entry pad on each bedroom, so they feel like they have a private, locked space - but cannot lock themselves out of the room. Also hotel latch for extra feel of security, even if not necessary (that's a tip from Al ;)

@Elizabeth Colegrove is more familiar with the military market. And @Al Williamson knows about government per diems. (Al also has a course to help get you launched).

I personally wouldn't buy a property based on the furnished rental income unless I was already operating the property or really knew what the performance was going to be. As Jake said, making sure there is an exit is one way to mitigate that risk.

Best of luck on the project Zachary, and hope to meet you tomorrow night! :)

 Hi David,

Thanks for the shout-out, and glad you made it out! *(I believe I met you if I remember correctly.) Although couldn't tell from your profile pic.. It's a bit tough out there in SF, but it looks like prices are leveling off in many neighborhoods, so might be some more days on market, and some deals to pick through here and there.

Interesting you worked on the derivatives cases. I used to work in bank regulation during the crisis, so we used to see all sort of interesting shenanigans, forensic accounting investigations, etc. Hope to chat with you more some time outside the meetup when there is a little more time..

Welcome to BP David! :)