All Forum Posts by: Matthew Fullam

Investment Info:

Condo buy & hold investment in San Diego.

Purchase price: $260,000
Cash invested: $8,000

Condo buy & hold investment in San Diego.

I would like to see some details too!

Thanks to everyone that has offered their opinion! There are obviously mixed views on how to handle this and I appreciate everyone taking the time to share.  I think I know what I have to do next and will be sure to share the outcome! Just for the record, AirBnB is CURRENTLY allowed in my building (this may change February 12th, 2018), my neighbors have never complained, his reviews are great (clean/responsive), and he pays rent before the 1st of every month. Negatives; hes in breach of contract as my lease states no subletting, I have no idea if he has the proper insurance, he's outright lying to me, hes making more money on MY investment than I am (assumption). Stay tuned!

@Deanna O. no hostility, more of a friendly heads up as we were just discussing airbnb.

@James Carlson this is a condo and we currently are voting on allowing short term rentals or not. decisions will be made feb 12th.

Thanks @Mike Cumbie @Jana Hristova @Matt K. and @Mindy Jensen for your input on my situation.  @Mindy Jensen I will not be changing the locks, dont worry! I also am under the impression that AirBnB is legal in the properties location, Denver - if I am wrong can someone correct me? Either way, its time to have a chat with my tenant and get things straightened out before something bad happens and I am held accountable.

@Nathan Gesner @James Carlson @Ryan D. Thanks so much for your input on this.  I think my next step is to confront my tenant and renegotiate the lease terms.  As I mentioned, he pays on time and doesnt really give me any issues.  I will look into my insurance options.  Thanks again. 

Matt

@James Carlson you and Kevin are definitely right, the place seems to be well kept.  Well, that is based on the airbnb reviews, I have not been there myself as I am out of state. I am not opposed to airbnb, its more the point that he went behind my back. as you and @Max T. mentioned maybe I can request more rent or a fee per night it is rented out?

@Account Closed thanks for this information i will have to take a look!

@Kevin Branin thanks for your input. That is true that the place is well maintained. I still wish he would have asked first.

BP,

I was just informed through a neighbor that my tenant has been renting out my property on AirBnB without my knowledge since the first day of his lease.  My lease clearly states there is no subletting allowed, however, he does pay rent on time (early actually) every month.  Should I be mad? Should I kick him out? Can any landlords provide their input on how I should handle this? I would also be interested in hearing any attorney's opinions on what to do. Thanks in advance.

-Matt

BP,

I am looking for a new market to begin investing in and during my search I have added BPs new book "Long Distance Real Estate Investing" by David Greene as well as "Emerging Real Estate Markets" by Dave Lindhal to my collection.  In these books the biggest thing I took away was the fact that you need to stay up to date on where big companies are moving.  This might be a rookie question, but what resources are out there to monitor where businesses are going? Any insight is greatly appreciated.

-Matt