All Forum Posts by: Zambricki Li

Airbnb contract with guests is written as a limited license for the use of your property in this one instance. They have anonymized blocks prior to booking and then you can send links, contact, after the reservation is confirmed. Before booking for an inquiry if you want to promote..Yes you would have to get around them hiding your information. So if it’s a phone number it could be a “poem” like …two, then one two, after that three two three. And finally fifteen hundred =(212)323-1500

I think you are fine to promote your global brand as long as you are not directly pulling people off site to book they will not be concerned. If the guest chooses to book next time directly with you, there is no rule against it. 

For a fourplex it's a bit diff than a large multi, they may not have the records straight at all. They may not be tracking. Rent Rolls, quality of tenants, any Cap EX forthcoming or current. Once you get it locked up in contract you can kick the tires in inspection and see if its a winner. There is a bunch of location specific questions. For example in SOCAL its always sewer line and foundation that people often skip in inspection that bites them later. Find out the "skeletons in the closet" which are common in your area. Ask for leases, bank statements, or proof of rent roll. I've seen agents fudge these numbers. I'm analyzing a 12 plex in LA rn and agent says 5,500 per unit and it is indeed 4,000 per unit after my research. Google the heck out of the property and neighborhood. Meet the tenants yourself. There is a BP idea out in the ether saying don't meet them or tell them you own it. I say treat it like a biz and meet the tenants before you buy it. You can't meet them all with 400 units, though you can do it with 4 in one shot on inspection day, or when previewing the home.

So interesting. These indicators really are the canaries in the coal mines. So many people have gotten into flipping and STR over the pandemic. STR is not always the answer if your flip is no longer penciling out.

Los Angeles is solid and rents are up. Lake Tahoe is leveling off. STR permits are at risk everywhere. I've been in the county STR meetings in multiple regions many people want to ban it, even in established vacation areas where it used to seem totally safe to operate. It just takes one commissioner who wants to make his mark to come along and whisper "BAN" and it all goes into a frenzy.

These next couple months of leveling off may be a good time to work on acquiring a next/first primary residence with some floorplan or zoning flexibility so you can househack/add units later/use FHA and refi when rates go down at a later date.

Exciting times. For your situation I suggest try and find a seller finance deal. Get on the phones and put in the work. It's a practice. There are many cold calling methods out there to be searched. Text campaigns also can work. If you DM me I can advise on using a data company to save you time.  You are smart to sharpen your knives now. I'm planning for both scenarios: market really dropping, and market continually leveled off by late 22' early 23'.  You may consider a heloc on your existing prop for repairs and will likely find it more favourable than a hard money loan. Heloc you only take what you need it's basically a credit line so your husband may warm to this graduated approach over a cash out refi, or hard money loan. Good luck!

Congrats on your first STR. Yes, most areas you can hire a service. Or housekeepers can do it, though some housekeepers don't really like dragging it around. It's an upcharge.

Figuring out the on site laundry is a worthy investment. I put one in every listing at some point.  Be it beach or mountain getaway, laundry is needed. I've reconfigured structures to add laundry. In one case moved a fridge and used the negative space to add it in the bathroom. In another case I added it like a bumpout.You can maybe get creative.  
One tip w/laundry: ask the guest to start the linens they used, at checkout. People don't mind. Don't need to dry just getting the cycle started really helps the housekeeper do the rest during the turn.

Hey BP. 

Searching for a good tax advisor/strategist who can assist with CA and NV properties. I'm looking for someone with a strong tax education and many years of experience. I really value a tax professional who demonstrates non linear thinking, and a deep understanding of the law. 

thanks in advance

The catch is.... contractors want cash up front and don't want to go through the process of the 203k with you. Which is understandable. Plenty of clients have money ready to go. I think this would work better in smaller markets with less competition from other investors and worth exploring with a tempered expectation.

No damage, move on. I had small damage in Tahoe last night and i'm going to charge for that repair. They also left it a mess though I'm just going to pay my housekeeper a bit more so it's not a big claim. They paid a LOT of money per night so I always make these kind of decisions in context. It's not worth it sometimes to deal with the claims process and worrying about a bad review.

Cash out refi loses it's power when the rate is this high. You have locked a (potentially) once-in- a lifetime rate. If you can entertain another creative finance strategy, do it.

Worth exploring. You can do some quick research and see if there are any other owners and how much equity he has in the home. See if it's on it's own lot, has own APN, can be bought. I can search title for you if you want to DM me. It may offend him if you start bringing up ants ect. Find whats real and keep it positive esp with a small down payment.