All Forum Posts by: Michael Baum

I think so. Not exactly sure what you mean by same space. I listed it on AirBNB and via HomeAway which gets placement on VRBO and Trip Advisor. 

Nothing exclusive really. I thought about going with other sites but haven't done it. Our home is pretty much a single season rental (Summer) and we are nearly full. 

I am going to try some more targeted marketing to bicyclists for the trail in Spring and Fall. Not sure where yet.

Sure. We have a whole house so I get more from VRBO/HomeAway than AirBNB, but I do get guests from the platform.

VRBO has been around since 1995 and we get most of our guests from there.

BTW, it came up as the 2nd entry out of 18 for the specific area search no other parameters.

Holy mackerel Matt! Now that I see the place I see that it is really setup well for families. This is exactly what I would want down there. You have really done a great job. It looks amazing!

I was wondering, you seem to be a bargain as well. The nightly is quite a bit lower than others in the general area. There are places that look similar for more. Some are much more but sleep the same. You have a lot more bookings for sure. 

Just curious how you came up with your nightly price. 

Love that place man. Really great! You should write up a post about how you redid it with costs etc. I would love to hear those details.

Hey Matt! Sorry if I spoke out of turn about your STR. I couldn't remember who posted about the Mexico property.

Thanks for chiming in. Your original post got me interested in the area where you are renting and there seem to be some good deals to be had. Hard to tell when you are not there to check it out in person.

Thanks!

 Yes, I add the fee via the Verbo dashboard when they first inquire just before I send the acceptance. I state the fee in the ad, but I also make sure they are OK with it before I actually accept their reservation.

We only get a few AirBNB guests and none have had a dog yet so I haven't tried to add the fee. There doesn't seem to be an easy way to add one.

Great question! I am considering doing the same thing. I spoke with someone at an REI club meeting who has a small studio in Paris which is the most popular vacation destination in the world.

She has been doing it for 12 years now and does quite well. The key to investing long distance is getting all your team in order. Make sure you have top notch cleaners and handypeople. 

There was a post by a guy who has a rental in Los Cabos in a gated community. He is doing over 80k a year with it. He did say that he gets more party type folks via AirBNB that we get at our lake house.

I am sure there are rules and such, including HOA's down there you might have to deal with, but I have seen they are less restrictive and much cheaper with good amenities.

I am thinking of getting with a local real estate agent and get the full lowdown on the areas.

I would also spend time on AirBNB and VRBO/HomeAway in various popular destination and see what nightly rents are like vs real estate costs in those areas. That is where I am starting.

I just wish I spoke the language, I think that would make things smoother when you can talk for yourself.

Keep us all posted on your progress! I am interested!

Our home is dog friendly. We allow up to 2 dogs with a maximum weight of 80lbs. That covers most popular dogs like labs and such. If someone asks about a larger dog, I consider it depending on the breed.

I don't allow certain breeds (pit bulls, Cane Corso etc) and charge a $50 per dog per stay.

I have had one person balk at the 50 bucks. My dog is so sweet, never does anything ever, washes dishes and does laundry, he is amazing! I shouldn't have to pay!

She ended up paying.

We are self managing our Idaho home from about 370 miles away. So far so good. We have a good cleaning team and handyman if needed.

It isn't that hard really, but remember, your usage must be 14 days per year or less if you want to take advantage of all the deduction of expenses for running a vacation rental home.

As far as loans go, we just applied for a 2nd home loan and that was that. No LLC as we only have the one property.

I highly recommend Proper Insurance (Lloyds of London) for vacation home insurance. It is expensive, but it covers it all.

Thanks Jason! Yes I agree that if you can do it for less, by all means to it. 

We outfitted our home for our use. I put stuff in there that I would expect to have in my home. I have stayed in quite a few vacation homes and none of them were as well equipped as ours. 

I guess in the big picture of things, we went overboard. I mean you can cook a turkey if you like, start a 6 hour stew in a crockpot, bake muffins etc etc. There is something in that kitchen that covers just about everything.

It was fun and I think worth it for us. We are at 67 days rented right now. I know that dosen't sound like too many but we are a single season rental with a bit of bumper time spring and fall. 

I have to say that I am jealous of folks with 3 and 4 season rentals doing 80k plus a year! That will be our next one.

Love what you are posting Jason! Thanks!