All Forum Posts by: Trevor Schmitt

Do you think that the number of properties listed on AirBnb will regress in the coming years after this dramatic boom in the number of listings? Personally, I think that will be the case... not only because of increased competition, but also because investors will realize that there is a tremendous amount of work/attention that needs to be applied to these types of rentals. Much different than your traditional long-term lease... and the complete opposite of the "passive income" a lot of investors are looking for.

2 Votes

I believe there is huge opportunity within HOA's that restrict ''transient tenants'' for MTRs. I am currently looking into FurnishedFinder.com as an avenue to rent out two properties of mine that have this exact verbiage against transient tenants in the bylaws.

Quote from @Robin Simon:

Are "Medium Term Rentals" (1-2 month stays) the next big thing? I tend to think so as owners can trade max profits for lower costs, booking certainty & perhaps most importantly much lower regulation risk (most STR regs don't apply for 30+ day stays)

Very interest recent report from Airbnb - https://t.co/EPvz235Uyz

Highlights:

Interesting list of the top cities for these MTRs:
(Best Earning - some nice sleeper markets)
La Quinta, California
Delray Beach, Florida
Marco Island, Florida
Palm Springs, California
Indio, California

("Best Equipped" i.e. most listings - oversaturated or sign of a good market for MTR with robust demand??)
Irvine, California
Los Angeles, California
Cincinnati, Ohio
Cambridge, Massachusetts
Seattle, Washington

Most "hospitable" (most enjoyable cities for people doing "digital nomads" by working remotely in short spurts - also some good markets to consider
Bend, Oregon (93.7%)
Santa Fe, New Mexico (91.7%)
Boulder, Colorado (91%)
Key West, Florida (90.2%)
Fresno, California (90%)

What do you guys think? Anyone switch from STRs to MTRs (30day+)

0 Votes

Congratulations, Bailey! Not only on the co-host success, but on the seemingly great network you have built! That will assuredly be a huge positive impact for you moving forward.

Question: Do you plan on scaling your co-host business to more total units? If so, what changes will you need to make in order to successfully grow? Also, what systems do you have in place that have allowed you to come this far?

0 Votes

Hey Joseph,

I have been thinking about the same thing today after listing to On The Market!

I am wondering if the extreme cold temperatures, and temperature difference in general would make this more difficult to bring to the midwest. It sounds like right now they are printing with concrete. Is there another option to use with 3D printed houses instead of concrete?

The most interesting part of this whole concept to me is the idea of having the ability to produce every piece of material and/or equipment that you need to build a home, right on site. You never have to leave the site to pickup materials, nor are they delivered. If a tool and piece of equipment breaks, you simply create a new one right then and there.

This is something I plan to keep my eye on for sure!

Quote from @Joe Binkowski:

Happy Friday Everyone!

I'm curious to hear what people think about the rise of 3D print technology. There are only a few players out here in the US, but most claim this process is 3x faster than traditional home building and 40% reduction in construction costs. If so, this is arguably some game-changing and disruptive innovation.

Does anyone work in this space or has thought to bring it to the midwest? I'd love to connect.

Feel free to share what you think about 3D printing homes and the pros/cons.

Take care

-Joe

1 Vote

Curious if there are any positive stories the community has in working the owners of neighboring properties for a mutual benefit. Scenario below:

I own a 4 unit property in a C/D class neighborhood. There is an incredible amount of foot traffic in the backyard in-between a few properties at as they sit on the end of the block. I have came to realize that this create a lot of problems for the surround properties. It is my goal to work with the neighboring multi family properties to collaboratively construct a fence to deter said foot traffic.

I have began the process of contacting the owner, but interested to hear of any similar situations.... either good or bad!

0 Votes

Quote from @Nicole Heasley Beitenman:

Do your tenants not pay utilities?

As I have been converting units into STR, I have been naturally paying more utility bills. My long-term tenants are mostly paying there own utilities, depending on the set up of the property. Fortunately, the additional income STR has provided the numbers still work!

0 Votes

Lewiston, Maine

All Forum Posts by: Trevor Schmitt

Trevor Schmitt has started 11 posts and replied 126 times.

Post: AirBnB Revenue Collapse? Near 50% in some areas......?

Post: Medium Term Rentals - Next Big Thing?

Post: What I made in July as An Airbnb Co-Host

Post: 3D Printing Technology

Post: collaborating with neighboring property owners

Post: Heating Oil Prices are Outrageous.