All Forum Posts by: Nicole Jones

Hi @Joey Saah

I will piggyback on what James has said. I'm a huge fan of Airbnb and have found (surprisingly) that even in areas that you may think be not be so desireable, with the right set up and good photos and just overall quality of the listing you can do good with an Airbnb anywhere! Every town has it's own type of tourist. You just need to find what this is and in what season. I agree to look into AirDNA, although I will say that my unit did above and beyond what AirDNA had predicted. 

Because you will not be living there it does sound like a scary option. I am currently looking for someone to take over all of the cleaning/maintaining. I have a lock box for keys so that's not an issue (yet). Basically having two key people to have in case of emergencies is all you need. The first, hire to turnover. do key hand off if you trust them to be a socially calibrated individual for hospitality and a second (family member, friend) to be the just in case key person if that first person jumps ship. 

IT IS scary. I'm moving to another town and I myself like the control of knowing when and how things are done. I can totally relate to this. But the profits of doing it and relinquishing some of that control over not at least trying it and being in your position seems like an easier choice? Maybe it's a good choice to at least try for a test run! Good Luck!    

Does anyone know if an actual business entity or Brokers license is required to manage another person's one vacation rental.

And on that note what the requirements would be in California to start that type of business?  

Jenifer Levini Thank you so much for that input. I am aware that this will be my biggest challenge. I was also aware that Fresno is the only county allowing this type of addition. My plan is to organically modify my plan based on what exactly is allowed. I wouldn't myself not involve anyone else in anything that will bring scrutiny and a headache to myself. I would love to connect with you as it sounds like you have done a lot of research in this area. I'll pm you later today.

@David Faulkner

I do plan on building a team for the management piece and the exact thought to bring in an extra leg of income is building a STR management company for locals. I considered the master lease option but for personal and future reasons I would just rather make an attempt to own the property and land. Thanks for your input! I like how most minds on here think very similar.

Michael Greenberg Thanks Michael. I looked up Matt Landau. If it's the same guy... he was a guest with GPFYP. He owns vacation rentals in Panama. And yes! With Airdna I paid for the reports. Too bad I didn't know you could negotiate. I'll pm you in a bit...

@Michael Greenberg

To answer your questions...

I don't need the income to live on which is great. Maybe later I can consider quitting my job.

I have used the airdna analysis tool for this exact project. I love the info it provides.

Matt Landau... did he do a podcast with "Get Paid for Your Pad?" His name sounds familiar. I'll look him up, thank you!

Agreed on the cleaning... Starting myself but will quickly transition to a crew... part time to test out a few cleaners.

PM me if you can, I would love to pick your brain

Nicolas Paez And on that note being that a tiny home doesn't require as much water as a cabin might are there other water options rather than traditional full well per unit?

Nicolas Paez Water is something I know I need to figure out. As far as parcel piecing. Would something that technically doesn't need to be "built" but rather just placed on the land (exactly like an RV) require the same hassle? I think there are benefits but also possibly some hitches to the tiny home plan.

Yes, they recently built a hotel up that way. I know that demand continues to rise and supply is pretty stagnant. @Mindy Jensen if you know of anyone who might be able to help me structure this plan and possibly even consider investing let me know. I'm attacking the management piece of it but as far as acquiring and financing in an unconventional way and rehabbing I admit I'm totally inexperienced.  

@Mindy Jensen

You are correct on Yosemite.

Yes, I do have a day job but I have minimal amounts to cash out on the current properties as they are multifamily properties. (So I have 2 duplexes, not 4 SFH).

I'm in the process of identifying the right agent for this plan so that'll happen within the next week. And no I don't have a specific property in mind as of yet.  

I really have faith in the model and location I'm just stuck on how to approach this..