All Forum Posts by: Samuel Young

Hey Rachel, congrats on the first property!

As everyone else said read Avery's book first and foremost. Next up I would start consuming as much content here on the forums as possible (I love this post - https://www.biggerpockets.com/...). Along those lines, I would also check out r/airbnbhosts on Reddit. It is a very similar forum to this but you get a few varying perspectives that I found very helpful!

I have an AirBnB and am starting to dive into co-hosting and managing AirBnBs for other people so feel free to reach out with any questions or for any help!

Hi Zeb! It all depends on your goals and what is best in your market. For example, if you are really opposed to managing an STR year-round, then it is easy to switch to month-to-month for the winter. If, on the other hand, you are looking to maximize cash flow, then it is best to look at your market to see what is best. How are the other STRs in your area performing during the winter? How much could you get for a furnished rental, and is it comparable to STR? Once you answer these questions and decide on your motivations, your answer should become clear!

Good Luck!

The short answer is that short term is almost always more profitable than long term. It's just the nature of the beast, especially if you have a nice house on the beach in Florida. That being said are you looking for passive income or active income. Long-term is much more "Passive" in that once you have a renter in place, you have to answer a few calls now and then and occasionally coordinate a contractor or plumber. Short term (Where I mostly play) is a much more intensive job. Not to say that it's hard, but I usually find myself spending a few hours a week between guest communication, talking to cleaners, or updating my listing. It all depends on your comfort level with each management style.

Good Luck!

I don't think it will ever be adopted on a mass scale for people in your situation with an established life (Spouse, Kids, Family obligations, etc.). But just look at how much Van Life has blown up among people who are freelancers/working remote! An AirBnB is a much more easily accessible way of getting into a nomadic lifestyle than spending 10s or thousands on a van... All in all I think we will see a large move in this direction among recent college grads and people who have never really settled down.

Where is everyone sitting?

I'll definitely be creating a separate account but I am wondering if I should open a specific "Business Checking account" or just another personal checking account?

Hi all! I am just about to buy my first property in the Austin area, and I want to make sure I have everything I need in place before closing. I am looking to set up a checking account so I can keep my finances separate from my investing. My question is do you have a business account or did you just open up a personal account? I will not have an LLC or any other official business entity.

Please let me know if there are other factors I should be considering!

Hi all! I am getting started and I am going to have a partner, I am curious how you all structure your partnerships. I am in the Austin/San Antonio area.

My partner will be out of state but will be helping me search for deals. I will be on site searching for deals and touring them as need be. We will be splitting the financing 50/50 and will have a property manager so in my mind we should split the deal 50/50.

A few more follow up questions:

- Does 50/50 make sense for the above partnership?

 - What if only one of us is searching for the deals? How much equity is that worth?

 - Do you have any odd partnerships? Tell me about them in the comments!

Great info! Thanks Bryan!

@Jordan Moorhead oh that's awesome, Jordan! I would love to attend the next one! Do you have one scheduled yet?