All Forum Posts by: Michael Baum

Hey @Bailey Rankin, I am not a big STR owner with 100 doors or anything like that.

Like @John Underwood, I have quality USA furniture where it is most necessary.

No metal beds. Always solid wood, oak and pine in my case. Zero issues with damage after 8 years. Bassett and La-Z-Boy stuff for chairs, couches and love seats.

Personally I would never spend 2k on a king bed frame. I wouldn't make all my furniture identical in each and every bedroom and STR.

I buy USA made used furniture that I find on Craigslist etc. It is amazing what you can get on various sites for pennies. The Bassett set we have was barely used and it was almost free. The La-Z-Boy queen hidabed couch was $150 and brand new. It is almost 2k brand new.

When you buy a quality piece of wooden furniture, it is durable but the main thing is they are easy to repair. We have never had any major damage to any piece of furniture except a handmade futon someone couldn't figure out how to make back into a couch and broke it.

Quote from @Ofir Anidjar:

That's smart, and I've been thinking of that route as well. Are there any markets I missed that you would recommend that fit an income up to $370K?

The beauty of this way of building wealth is that it really doesn't matter where you do it. Everyone needs housing and a few 2/2 four plexes would really be a solid way to get ahead.

If you budget is 370k, then I would take some time and look at areas closer to where you are going to land. Where are you planning to live once you get back? I would start there and wind your way out looking for places.

You can use Zillow rent estimator (not super accurate but a start) to get an idea of what each unit will rent for.

Plus it doesn't have to be a 4 plex. Duplex or triplex could work just as well but take a bit longer. Look for the deal that makes the most sense.

Don't let perfect be the enemy of good.

So this appears to be an advertisement outside of the classifieds.

She is the founding compliance concierge at Lodge Compliance.

Hey @Ofir Anidjar. Welcome back!

Now, something that I would strongly look at instead of what you are planning is this.

I would use the FHA loan program and grab up a 4 plex. Live in one, rent the other 3. Do that for a year or so, refinance into a conventional mortgage, do another FHA loan for another 4 plex, and do it again.

Do that a few times and you will have 4 or 5 performing LTR properties that will provide a good base for other investing options.

It isn't fancy or sexy but it builds wealth with lower risk. Going this route will allow you to pay off the first property in no time then keep moving forward. 

The bottom line is not everyone needs to go on vacation but everyone needs a place to live.

Personally I would avoid arbitrage of any sort.

Hey @Mangmang Wu, so is this just part of the STR space or is this all of it?

It really needs a lot of work IMHO. Adding anything to "elevate" the look is just putting lipstick on a pig.

This is a complete redo. So much work to be done down there starting with all the stuff, furring out the walls maybe to insulate. Redoing the floor, waterproof underlayment with LVP maybe?

It can be done but it isn't going to be cheap or easy. I have done quite a bit of basement remodeling and it takes time to get it looking good.

What is your planned nightly rate?

So we put out a welcome box. Handwritten note for the guests.

All of the snacks are in a wine box. I have been getting them for free from a large wine wholesaler. Really nice boxes and the guests sometimes take them which is cool.

I don't put out any local stuff but I do put in a ton of items like various bars, ICE drinks, chips, fruit snacks etc. We usually get a thanks via text for the goodies.

Regarding coffee stuff, I put out a ton of pods. I have 2 large ceramic sealed jars full of various pods. I get them for less than 20 cents each and the guests have a selection to choose from. About 40-50 pods in total I would guess.

I also have Splenda, sugar, and regular CoffeeMate creamers (singles).

Yeah @Josh Ball, they will flag it and might suspend your listings for violating the terms of service like @Justin Miller said.

You should be able to put your guidebook on AirBNB and VRBO directly. I can't remember if it is possible but ask your rep if it isn't obvious.

Hey @Collin Hays, I was thinking of posting the same thing!

I have seen the same downturn in new posts looking for info and ideas.

I think we have seen an uptick in the number of advertising type posts as well.

I have had a few people mention that they think BP is on the downturn as a forum. I am not going to agree with that, but there has definitely been fewer posts. 

We are moderate and we are booking steady for 2026.

Quote from @Jules Aton:

Thicker ones are sold out. I'm guessing 1" isn't enough cushion for sofa bed. 

It might be better actually. The thicker ones are harder to fold up the bed.