All Forum Posts by: Patrick Britton

hi Drew. We are going to be in the Ann Arbor area or perhaps between Ypsilanti and Detroit. I haven't really thought about a place to hang my license as of yet. Preferably it would be a niche real estate Investments focused brokerage but I'm more concerned with getting the coursework and whatnot out of the way

I am hoping to connect with a realtor in the great state of Michigan regarding the acquisition of a real estate license.  My wife and I are planning to move there sometime in 2019 and I don't want to waste time :) 

thanks! 

@Sarah Lorenz well yes, all analysis is based on past performance.  It's all a best guess but hopefully some guesses are educated while others aren't.  I would always caution against forming a judgement based on a single report, source, or opinion.  And i would be most interested in knowing the source of the article.  Are they the sugar industry telling everyone that fats are the enemy?  Is the source pulling a Goldman Sachs, whereby they tell their investors one thing but tell the public the exact opposite?  

I don't know enough about Portland, but yes Seattle is adding a lot of supply and is something to be aware of. And their sales prices have seen a decline recently, but not sure about STR pricing...

The more I look into this "business" the more I like it.  However, the numbers appear much more attractive for the ultra high-end airbnb.   For example, a penthouse suite in Chicago renting for $4k -$6k a month, needing $20,000 in furnishings, but seems to get no less than 50% occupancy at $1,000 a night...sure, it's a lot more upfront and quite a commitment to rent such a place, but the revenue is so much larger...

Hey Folks,

I am curious to know what typical assumptions are made with respect to the occupancy rate for an Airbnb.  I've heard and seen some at 50%, others at 70%.  

As well, what other expenses should be assumed with these sorts of rentals?  

thanks

@Chris Tiller  don't invest in chicago.  that's my area and i don't want any more competition!!!



:)

sorry @Nghi Le @Christopher Malone @Alec McCullough@Reginald Truss, etc.  i never got a notification from Bigger Pockets that you had replied.  

@Nghi Le yes, my credit is higher.  i'll shoot you a message.  

@Christopher Malone the problem with Lima One is there min loan amount.  I thought it was 100k?

@Maria C Quimpo  yes i spoke with Eric @ Renovo.  Very friendly and helpful.  I'll definitely consider using them when it comes to anything fix and flip (or refi) related.  

This shall be the ONLY meeting for the month of December.  

Upon arrival look for us in the reserved room on the second floor.  

https://www.meetup.com/Bellingham-Real-Estate-Inve...

Fine ideas but most are not feasible or doable. I think it's an idea to find an equity partner who can come up with the down payment for a private or commercial lender, with ownership of the LLC divided in some form.

No one should be rewarded for simply existing.  To believe otherwise is a dangerous road to entitlement; reward without action.