All Forum Posts by: Nick Rutkowski

@Chad Hack

Commercial or REITs. Take a little more time and learn commercial real estate. You seem like a mixed unit type of person. With your corporate background you’d have a better time leasing to business owners.

@Brett Smith

Master leases are a commercial lease. You’re thinking a typical residential lease allowing subleasing. How nice is this house? If it’s class A or B you could rent the furniture. If it’s class C, go to a second hand store and buy the furniture. Remember, it’s a rental so you don’t have to go ham on it.

@Kevin Pillow

Single family. More space, privacy and more control. Don't buy in an HOA, one day they can change the rules and not allow STRs in their community. That includes single family houses in a HOA community too.

@Esther Tama

I have students renting one of my airbnbs. They are kind, honest and try to fix problems before calling me. By far my favorite guests/tenants I’ve had. I let them rent my place again next semester. The little secret no one tells you is FASFA will pay for off campus rent. Guaranteed money. The other secret is to treat them like adults not kids. If you don’t look down upon them and treat them fairly it will reciprocate back to you.

Will they get drunk, break things, and not tell you? Sure but so will an adult tenant.

@Scott Krause

Don’t do it, you’re going to get caught and fined. Next time you buy in NY get in touch with me. I’m working the Finger Lakes area (wine country). I get plenty of downstaters coming to my properties for vacation.

@Geovany Espinoza

Hey you’re closing on my birthday. Ha. I think people buy multiple properties because they use the equity from their last properties to fund the next one. If they do it all at once, they probably used a partner.

@Blaine Watson

If this is your first Airbnb, get it as close to you as you can. You’ll have more control and faster access to your property instate rather than having to head out of state. You’re shooting for experience more than making a profit. However, don’t sink yourself either. Look for affordable to slightly discounted and needs a little elbow grease. After you do a little updating, go to a 2nd hand store for furniture and decor. If you’re design blind like me, have your better half handle the decor. My partner handles the interior design, our guests love how nice our units look. My first BnB was a duplex for 32k. Now it makes 35k/year, it’s my golden goose.

As I said, feel free to ask my anything about Airbnbs/STRs.

@Edgar Perez

How do you feel about sharing your house with other guests? Better question, how does the lady feel about it? If you all are cool with having others

share your house then go for it. Through my experience guests with their own space is better for you and them.

@Tim Sharkey

Through my experience I found Airbnbs are high turnover, more money, less maintenance, less regulation (I run Airbnbs in Upstate NY) and it keeps people accountable vs LTR tenants. I would recommend this strategy to any investor whose willing to head in the hospitality direction. Keep in mind you have to run your property like a small hotel.

@Blaine Watson

I’d do neither and buy a property. Everything you need to get started is on BP, the next best thing you can do is buy a duplex and get started. There’s too many unknowns you’ll run into that gurus or books can’t teach you. You can Airbnb or rent out the property.

I run airbnbs in upstate NY and make a killing. If you have any questions, feel free to ask me. I’ll save you the money.