All Forum Posts by: Trent Reeve
Trent Reeve has started 26 posts and replied 579 times.
Post: 31.23% occupancy, OH NO!!??, yeah right!
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
i agree. if you can raise your ADR and make the same amount of money with less visits, thats also less wear and tear on the property. 30% occupancy seems low though, unless that hits what your goals are and your renting season small.
Post: Why Airbnb no longer works for most
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Zander M.:
@Tim J. I've spotted some trends in the STR market and am eager for some insights.
It appears there's a surge in new listings, causing occupancy rates to dip even as booked nights go up. Many homeowners seem to be converting their once primary residences into Airbnb rentals rather than selling, benefiting from their low-cost basis and the low mortgage rates they locked in.
This pattern could persist, possibly diminishing the profitability of STRs for quite a few. I've noticed this in my market have you noticed similar trends in your area?
i would say, 1 - surge in new listings isnt a new trend, its been happening for years. Especially since people have realized they can turn it into a business and not a hobby.
2 - i dont see people turning their primary homes into Airbnb's. they need to move, they sell them. They are selling them because home values are going up and cashing in on that. Where are you getting your data that home owners are not selling and turning them into rentals?
Post: HELOC to buy STR's?
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
its all about the numbers. Will you profit enough on you STR to make it worthwhile? If you can make enough money and profit then go for it.
Post: starting my str journey!
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
i think Arbitrage used to be a good vehicle. nowadays, people are more knowledgeable about properties, usage and values and you will have a hard time finding a desirable property at a low cost rent enough to make a profit. And then convincing the owner to let you rent it and the wear and tear it will take on the property. Good luck on your journey though.
Post: Airbnb's no-camera policy
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Christian Hutchinson:
Quote from @Russell Brazil:
In a hotel, you cant have cameras in the rooms. Anywhere privacy is expected, which is anywhere within the space being rented, and in a house that includes the common areas, you cant have cameras.
What are you going to do when someone walks from the bathroom to the bedroom naked. Now youve recorded someone in the nude. What if its a child? Now youre going to prison for 20 years and registering as a sex offender because you inadvertently created child pornography.
I have a clothing policy because its mixed-gendered housing.
There are shared hallways and stairways. And people are not renting the whole building.
i would debate that a shared common space is a public space. i would not consider anything inside a house a public space. the lobby in a hotel, anyone can walk in there whether they are staying there or not.
Post: We are attacking the cable cutters in our property description!
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @John Underwood:
We have multiple ways to rise above the competition.
Here is one.
We have cable channels and NFL Sunday ticket. So many others are cutting corners on this and who knows what else! We use You Tube TV for cable channels that include the local channels. You can ALSO log into your favorite streaming services with our smart TV's using your existing accounts.
You deserve to stay where the owners aren't cheap and don't cut corners!
do you feel it makes a difference? that it has landed you a booking because of it?
Post: URGENT Homeowners for STR
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Holly Polf:
Thank you everyone! Yes, got a quote from Proper. Pretty expensive but it would cover wind/hurricanes. I will see if I can get a quote from Foremost today!
Where in Florida are you located? I have a property in PCB and could give you someone to talk to if you are near
Post: Help finding STR
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
to make sure, you are wanting to find a place that is renting and you want to rent it yourself and then STR it? so Arbitrage? or am i reading this wrong?
Post: Do guests even use dressers?
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Jon Martin:
I know I never do. Looking through listings recently I've noticed that a lot of them don't have dressers, and if they do you can tell it's mostly decorative because they don't look very useful (short/shallow drawers, minimal space etc).
I ask because IMO dressers are by far the hardest thing to shop for that checks all the boxes (quality slides, deep drawers, looks nice) without breaking the bank, which multiplied by several bedrooms can really add up. Plus they take up a lot of floor space and thus have to be coordinated with bed placement, doors, windows etc and greatly affect movement flow.
With that- anyone forgoing dressers altogether? Anyone get a bad review for not having them? I do see some listings having fold-up suitcase racks instead as a compromise. I've somewhat committed to the idea of 3 drawer chests in place of nightstands on each side of the bed, but even those are not cheap and don't save you that much compared to 2 nightstands plus a shared dresser per room. Curious to hear any feedback.
Signed,
Desperately Seeking Confirmation Bias
i say, dont do things based on how you feel about it but how the guests feel about you. you may not use a dresser, but guests will. When our kids were little. my wife would empty out the suitcase and put clothes in the dresser and as the clothes were worn, then put them in the suitcase rather than just on the floor. Yes, you may not use it, but a room without one will look strange and why take the risk?
Post: LLC for Airbnb
- Rental Property Investor
- Atlanta
- Posts 588
- Votes 523
Quote from @Sarah Kensinger:
Quote from @Christian Cortez:
Quote from @Sarah Kensinger:
Quote from @Christian Cortez:
Don't wait to put it in an LLC. Just form the LLC preferably in Wyoming. Wyoming does not release who owns the LLC. Most other states allow you to look up who the owners are of said LLC. Check with your lender prior to closing to verify it is ok to put the property into an LLC. Like another post said if it's after the closing, you might be required to refinance your loan to do it.