All Forum Posts by: Sarah Kensinger

I had to look at your name twice, my father has the exact same name as you! And interestingly enough, we spent a night in Bakersfield on our honeymoon as we traveled up to Carmel-by-the-Sea.

Anyway, here are a couple contacts you may be able to get some info from. For the most part there in the LA and Joshua Tree area, but they might be able to connect with you with someone in Bakersfield.

Zev Forrest with Xenia Stays and Matt Broccoli with Mr. Rose Property Group

Quote from @Fakaradin Floyd:

Hi everyone it has now been 5 - 6 Months since my journey started and I just want to say wow it has indeed been a journey. 

One thing I can say is, even among most of the naysayers to Airbnb Arbitrage with the right research and gumbo you will succeed or at least have a great story to tell your friends haha. 

In the 6th month, I can say I made some mistakes, when first starting I spent a bit too much money to start the Airbnb, as this was my first deal I paid a little too much for rent for the type of airbnb it is. Luckily for me, I used real-time research and have been able to make a 20%-30% profit almost every month. 

One thing I can say once I got the system going the business got alot easier, after I automated almost everything I have had the pleasure of rarely going to my airbnb and I am booked 92% of the time, not only did my research pay off I am reaching the numbers I expected and more. I was even able to travel to a country I always dreamed of traveling to since I was a child whilst maintaining my airbnb from across the world (Japan). 

As the slow months come I remembered to update you guys, things are going swell, my bookings are slowing down in occupancy but it is outperforming the local airbnbs near by thus far occupancy-wise. I am still learning and it is my first property so I have my own things I'd like to learn more of such as learning the airbnb system, appearing on first page majority of the time, increasing my occupancy to 95% all year round, and researching direct booking. 

Updates

I have two BIG updates, I actually just closed on a home not for airbnb but for myself in an area I have been trying to buy for a year but investors have been bidding on houses like crazy in the area. Luckily I was able to get an offer in for an "affordable" price so now I am a 24 year old home owner!!! This is a huge accomplishment for me because I come from Bronx,NY and never lived in a home my whole life, I am the first of my family to own a home!! Not only did I close on a home I just onboarded another property for Airbnb arbitrage the same day!! It needs a bit more work than the current Airbnb I have but I am extremely excited to start the Airbnb up and see where things go since I've learned from my mistakes I feel like I will be doing a lot better for this property also, I can say this was an amazing opportunity and I am extremely excited for my journey and plan for bigger things. My goal this year was to get a home and start a profitable Airbnb business and I've reached it! I still have a lot of to learn but I am doing great so far. 

Present
I am currently a super host and my current Airbnb has over 30 reviews that are all 5 stars! 
I've linked my Airbnb below and would love to get some feedback would love to get some advice and your thoughts! Happy holidays everyone!

airbnb.com/h/sereneoldtownsantuary

Wow and just wow! I'm so happy for you and your story. What an accomplishment to already change the direction for your family's wealth and purchase a home before you're 25! This is why I always say arbitrage works, and like yourself, with the right research and discipline it's very very doable! Keep knocking it out of the park, I look forward to seeing where you go. Your adventure has just begun!

Also, if you happen to have any extra time, we have had a number of people ask about rental arbitrage lately on this forum. I'm sure they would love to hear your story and that it can be done.

Quote from @Lauren Lockett:

Quote from @Sarah Kensinger:

I'm wondering if you posted this in the wrong form.....

Also, you can find vacation markets that cash-flow, but you have to look for the golden nuggets in places that everyone else passes over.

 Absolutely finding plenty that cash flow, just looking for something less expensive. Thanks Sarah! 

I do recommend to those looking for a lower entry point, to go LTR first if they want to purchase something soon. STR properties cost more, not to mention the large amount needed for furnishing the property! 

Quote from @William Salas:

For everyone asking!  Here is the listing:

airbnb.com/h/oaklandparkbnb

Comments and suggestions would be appreciated! 

I finally had a few minutes to look at your listing...It's a beautiful property with lovely design. If you would like to add some more bang on a budget, I would add some fun Florida style wallpaper that goes with the decor style you already have in the property. Add it behind the beds, behind the living room couch or even two walls in there, or pretty much anywhere it would be a focal point of the room. Also, for a Florida STR you should have at least one neon sign and make an "Instagram wall." You need the property to pop and pop well for an area that has thousands of STR to choose from.
Here are some inspo STR properties that could help you see what I'm suggesting. A big disclaimer before a moderator has a problem...I'm in no way affiliated or connected to this STR design company. They have no idea who I am or that I follow their work so closely, because I LOVE all the STR properties they have done! Also, unfortunately these properties are not mine.

These properties would be good inspo for the wallpaper ideas or maybe even a little paint to add color and catch people's eye. Also note the styling they did for the photos. Another marketing trick is making potential guests feel like they can see themselves at your property.....The Pink Flamingo and Cool Tropical

The backyard is beautiful, and I would love to hang out there! If you can, try to add some other outdoor amenities that could be showcased in your listing and be a draw for guests. Amenities are huge right now and sometimes it's the simplest things that can make the difference. For only two full bathrooms I think your guest count of 8 is good, a general rule is no more than 3-4 guests per shower. And if possible, maybe add some more photos of the property and what is there. The OTA loves lots of photos and your listing can be boosted higher if you have between 30-40 photos.

Hope that gives you some ideas. I feel like your property can do well if you give it that extra punch. It's already beautiful but just needs those extra details. 

As everyone else has been saying, follow the local landlord laws and relist the property again. Maybe he did have a family emergency or some other reason for why he needed to leave. There's no telling, but at least your property was left in good condition. 

I might have a contact for you, but I'll need to check and see if they do the Louisville area. If you're interested, DM and I'll pass their email along to you.

This is rough and not a fun experience! Is there a reason you couldn't use a DSCR loan so that your DTI wasn't used/look at?

More hosts need to figure out how to market their properties outside the OTA. Thanks for sharing!

Sounds like a boutique hotel in the making! If this would be a great value add commercial property, were you could double the value in a brief time, it would be worth learning how to raise money and purchase the property. I would suggest owner financing because it'll be pretty hard to find a bank to lend on that type of a property. 

The enemy method is very hard to use unless your validating info, you received from a real time data pulling software. As you know, you can't pull the occupancy and revenue of a property from the listing, especially with such short lead booking time right now. Unfortunately, many people have gotten in trouble running numbers for a STR that way. If you're still looking for someone to connect with, send me a DM and I can link you up with someone in our STR mastermind that operates there.