Short Term Rentals

“So, it is the first check mark To sort of look at when you're sort of underwriting a property is, is a short term rental even allowed in this area? Cause it can very quickly be like, all right, let's stop pencils down. Because I mean, if it's restricted, you s…”

“Most markets though have moved to this a permitting process where short term rentals are allowed. You just need to get a permit. You need to tell them where it's going to be located and who to call if there's a problem.”

“I would also argue that, that, that using that rule which is to go where it's all right, already regulated Gives you more certainty rather than less certainty, and that's important. And then also in that example, let's just say that they were allowing 10,000 h…”

“Short-term rentals are very restrictive now in Lake Tahoe and that can have detrimental effects to the local economy if all of a sudden, I mean, it's, I mean, high net wealth individuals that just have their second homes there that they visit once or twice a y…”

“It's going to price you out of a lot of markets. So if I'm in a market, you're looking on some of the good ones, you might be able to get a, I'm 20% or 30% gross margin. Like if you then have to and pay that for your fee, that's essentially taking away your ma…”

“There is a, you know, there's something called tax segregation where a lot of the amenities are, you can depreciate a hundred percent of the amenities in year one. And if somebody is a large or not even large earner, but if they're, you know, if they're paying…”

“We are seeing all time low levels of new investment in short term rentals today. So we had reached an all time low in 20, 25 and the, and thesis was that that was going to be the bottom and that we were going to go up from there in terms of new investment acti…”

“Like where short-term rentals are going today is it's less about the interior and more about the exterior. As people are generally going there as a destination, especially a five bedroom home like I invested in.”

“The lowest return renovating your kitchen, renovating your bathrooms. Like those are not going to return for a short-term rental.”

“Highest return thing? String lights in the backyard. It's gonna pay multiple time overs.”

“The thing now that I'm, we do and that I'm people should be doing is the electronic guidebook.”

“So if you're getting going and you don't, and my suggestion is, is you do lower your prices at the beginning, you get five, 10 reviews. On Airbnb, Vrbo that's going, and with the algorithm, if you're getting booked, you're getting reviews, they're positive rev…”

“Yeah, and typically it's investing in a market that they've just gone to growing up they want to own a home there and they just buy it assuming it's going to make money and then it doesn't, and then they think that investing in short-term rentals is just a bad…”

“Three to four bedrooms and Joshua tree are saturated.”

“What I tell people when they're designing Airbnbs is take risks on your Airbnb design that make you think like, oh, this is interesting. I wouldn't do this in my own home, but this is interesting because that's what you want the guest to feel when they walk in…”

“They're actually trying to lower the number of contracts you can have a year to 26 for even the people who are grandfathered in. It's a long, so, but I don't even hit, right now we're at 36”

“I almost think that a place that is regulated is safer than a place that's not regulated, because you never know what the regulation is going to be, and so if you come in and it's all, and they've already Put the brakes on, then at least, you know, you have a …”

“The Delta just isn't really there for like the management burden that it creates, you know, so you can look at a unit and say, Hey, we're going to get two grand a month in rent for this two bed, one bath. And we could get three grand or 3500 bucks a month if w…”

“A 60% occupancy rate is, is a profitable month.”

“Right now, short term rental is still very expensive. It's hard to actually manage as a lifestyle for most people on most kind of living salaries and wages.”

“So most buildings in San Diego, you cannot do it because your HOA won't allow it.”

“So they're trying to ban all short-term rentals in San Diego, and that did not pass.”

“Your biggest risk is the short-term bill passing in a certain city.”