All Forum Posts by: Frank Barletta
Frank Barletta has started 14 posts and replied 161 times.
Post: Can't Get Numbers to Work for AirBnb
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Quote from @Andrew C.:
Hi all,
Please go easy on me I'm more of a long-term investor but I wanted to dip my toes into the AirBnb pond by taking on my first property:
House = $20k
Septic = $7.5k
Well = $10k
Septic Plan = $1.5k
Building Permit = $1k
Site Work / Driveway = $5k
Concrete Foundation = $15k
Plumbing / Electrical = $15k
Furnishings = $10k
Pond = $5k
Land = $50k
Total = $140k
There are AirBnb's in the area renting for $100 / night and at that rate I would have to rent mine out every day of the year for 4 years straight before I breakeven.
Can anybody help get the numbers to work?
Thanks!
OP -- If the numbers don't work for you, they don't work for you.
"Breakeven in 4 years" doesn't sound bad though. Unsure what COC you're expecting though.
Post: Does anyone have experience with structuring a STR joint venture or partnership?
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
I agree with you, mostly, but OP said "I am an investor with a portfolio of STRs in the Poconos, but I can’t run the daily management of rehabs and property management" so that read to be like it would be the best route vs. JD/Partnership/Co-Host unless OP is looking for a sponsor to handle everything.
Post: Best software for STR. So many options
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Quote from @Michael Baum:
With only one STR I can't imagine things taking more than a couple of hours a week just using the VRBO and AirBNB apps. I don't think I would complicate things with a software solution.
I second this comment. However, if you want some automation such as texting your cleaning team with reminders and having a cleaning schedule. For 1 property, Guesty.
Post: Scammer on AirBNB
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Quote from @Leslie Anne Morris:
We see scammers way more often on VRBO. On Airbnb we mostly just get ‘travel bloggers.’ Report them! Don’t have the address to your property anywhere public. That’s about all you can do. Of course if someone knows your property is sitting empty and they are smart enough to figure out public records then that is a whole other issue. More reason to use professional management I guess - so that your name isn’t readily available.
Post: Does anyone have experience with structuring a STR joint venture or partnership?
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Quote from @Michael Baum:
Hey @Alesandro Breguez, I assume you are the money guy.
I guess I would like to know what you are really looking for. Do you have places that aren't ready to go live due to needing rehabs? Or just management?
You might look at co-hosters. People who handle the day to day but don't take 25% off the top.
Post: Short Term Rentals in Maui
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
My apologies. The lack of airbnbs I could find for under 30 days and this piece from the local government of Oahu had me thinking otherwise.
Post: Short Term Rentals in Maui
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Quote from @Mark Waite:
Quote from @Frank Barletta:
While I don't have rentals in Maui, I do spend time in Hawaii annually to visit family, and can tell you the STR market was hit hard by the governor who recently created legislation to prohibit STRs under 30 days which really hurts the market.
The island of Oahu is definitely in this position. I would personally be cautious for Maui as there is no guarantee regulation will not come.
Post: Some less spoke about STR markets
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
What isn't noise today?
Joking aside, you're reading an article like many others, and the narrative is to invest in those areas for some reason. I find it hard to believe they (or anyone) have the magic formula to making money and give that data away for free without some hook, so do your research.
Talk to hosts in your found locations
Look at Airbnb listings there
Use other tools
Etc.
Good luck!
Post: Short Term Rentals in Maui
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
While I don't have rentals in Maui, I do spend time in Hawaii annually to visit family, and can tell you the STR market was hit hard by the governor who recently created legislation to prohibit STRs under 30 days which really hurts the market.
Post: Direct booking website
- Rental Property Investor
- New York, NY
- Posts 163
- Votes 95
Is 3% really that tough to give up for providing most of your guests, extra insurance, customer success, payment processing, communication, etc etc etc?