All Forum Posts by: Katie Holmes

Hey Keith!

Totally hear you on the analysis side. I used to spend way too much time on numbers especially on monthly cashflow, rent estimates, and expenses. Eventually I created a system that pulls in all the key data and helps me spot cash-flowing properties faster. It’s saved me a ton of time.
Happy to share if you're curious.

Hi Correa!

Love the energy. Really glad to see your mindset, you’re doing it right by starting with learning. Since a lot of good advice has already been shared, I’ll just add this: try running the numbers on sample deals as you learn. Even if you’re not buying yet, practicing deal analysis will give you a huge head start when you're ready to take action. 

Good Luck with your investing journey!

Hey James!
Nice work turning a $3,500 property into something livable with your own hands is no small feat. That kind of sweat equity goes a long way, especially in a market like Detroit. Curious to hear what your next move is after this one. Are you thinking of scaling up or just focusing on locking this one in first?

Welcome to Bigger Pockets! Having a skill you can leverage is a great advantage – it definitely helps you stand out. Best of luck!

Welcome! This is a fantastic community - glad you found it!

Quote from @Craig Jones:

I was just about to post about this.

Under the standard fee model, the guest service fee is about 14.2% and the host service fee is 3%.  So AirBnB gets a 17.2% cut in total.

If you choose "simplified pricing" the host fee is 15% and there's no guest fee.  You can then raise your prices so the guest sees the same total as before, and you actually end up netting 2.2% more.  

Another (minor) benefit is that AirBnB compliments you in front of the guest during the booking process:

Of course I'm not really covering anything.  The money has just moved under a different shell.

 Super insightful - thank you!

Not investing out-of-state sooner!

Welcome Kyle!

We scan and analyze every new listing all across the country and I would highly recommend out-of-state investing if you're in an expensive area! We see a very low "hit rate" in even the best markets today so good deals can just be hard to come by!

We analyze every new property that comes on the market and some of my favorite cities right now are Detroit and Indianapolis. Best of luck!