All Forum Posts by: James R.

I offer STR property management services for anywhere in the country, except California and New York states.

Hello Yogev.  I am a RE mentor.  Check out my profile.  I have 25+ years of experience.  I charge a fee and can provide references.  Kind regards, James 

Chase, thanks for your reply, but in regard to IDA that's where there's a huge dearth of knowledge.  The storm did most of its damage 30 miles west of NOLA.  The properties that I bought in the City were untouched.  There was about a 4 week halt in tourism and JAZZFEST was re-scheduled for the Spring, but other than that, nothing big where I bought.  New construction these days isn't meant to handle any kind of storm, but the older houses were built to last and still do.  

Just shouting out to see if any other investors in the NOLA market are seeing good results with renovations etc.  There's still a shortage of suitable housing in the City.  The builders that I am working with are FANTASTIC!  Very responsive and go above and beyond.  My next project is a new build.  

NOLA is a HOT market literally and figuratively.  There was a frenzy to buy the Airbnb that I bought, because it already has a CSTR and an OSTR.  I predict positive cashflow will be about $4,000 to $8,000/month.

I'm new to the New Orleans Parish rental market.  I have one lease rental and a licensed Airbnb.  Looking to hear from others in the market.  Cheers!  

I've Airbnb'ed properties for 7 years.  

1)  Never, ever allow instant book.

2)  Never, ever allow guests without AT LEAST three previous positive reviews.

3)  You have an option to demand a security deposit, prior to accepting their request.  Most guests are so dumb, that they don't even know that it was applied to their CC card.  The place is $900/night?  Your SD should be $1000.  If they've got "trashing your place on the brain." then you're covered.  Don't count on Airbnb to do squat to help you.  With a security deposit applied to their card, you simple send Airbnb the photos and say "I want their whole security deposit".  Period.  

Also, it doesn't sound like they trashed the place.  They were just irresponsible slobs.  In their minds, this was normal to leave your place this way. 

Now, a guest who wears triple absorbent adult diapers, loads them up and leaves them behind for you to clean up, well that is just plain gross.  It happened to me and the guest gave me one star, because I didn't provide free Netflix.  People are disgusting, but bad on me, for not screening them out of my beautiful rental property to begin with. 
  

Hey there! I've been dormant here on BP, but still active in real estate investing. I am selling one of my cash cow duplex properties to buy a SFR. Need a real estate tax accountant to guide me through the capital gains tax and how I appropriately document using the funds from my sale to re-invest in another property. Any suggestions? I look forward to your responses. Thanks in advance.

Tenants who have lived in this property for over 2 years, thought that there were bed bugs.  A BB professional came to the property and did an inspection.  No bed bugs were found.  Now, the tenants want me to pay the bill for the BB inspection.  Is this really my responsibility?  

Bao, this is just one more method that contractors use to bully and rip-off the people they are contracted to do work for.  

Like Wayne Brooks said, check your state laws.  Most of what contractors say in regard to liens etc. is a lot of hot air and idle threats.  Find him on Angie's list or BBB and follow-up.  If he broke your contract, sue him in small claims court for the damages.  

I was just bullied by a contractor, but I outsmarted him and beat him at his own game.  Granted I have hired many "con" tractors over the years.  

Good luck!  

Hey Fellow BPers!

I have an upstairs apartment in one of my buildings that needs a bathroom exhaust fan installed.  Here's what the contractor told me via email this morning: 

"Just stopped and looked at the job it's going to cost $1050 to install a fan in that bathroom I have to find electricity in the Attic and vented out through the roof please let me know if you want to proceed with the project thanks"

Has anyone else had this done recently?  Is this estimate reasonable?  An estimate usually means that it is going to cost more, before the work gets done.  Also, can this usually be done in a couple of hours?  I think that this contractor's estimate includes a full 8 hour day of work. 

Thanks in advance for your replies!  

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