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Started By
Message
Anybody familiar with Airbnb?
Posted on 6/8/17 at 9:41 pm
Posted on 6/8/17 at 9:41 pm
Anybody familiar with this company or use it to rent properties? I had never heard of it but found out a couple of people I know make a lot of money in Houston using it. It is like VBRO but not restricted to entire properties. You can use the service to rent a whole house or just a bedroom. The summer intern in our group used the service to rent a room from someone over the summer. Would seem a bit creepy to live with strangers to me, but it is kind of the hotel / apartment version of UBER. A guy that is about 30 in our group has bought two condos in downtown Houston at about $250K each and rents them both out. He alternates where he stays depending on which one is rented. If they both rent he stays at a friend's house. He said he makes enough to make the payments. Another guy I know has a huge condo and said he rents his place for as much as $6000 a week. When his place rents he said he just books a $100 a night Fairfield Inn and his family stays there. He said the kids enjoy the pool and the wife doesn't mind because of the money they are making. Sounds interesting. Anybody have any experience with this concept?
Airbnb
Airbnb
5
Posted on 6/8/17 at 9:43 pm to Ramblin Wreck
quote:
Anybody familiar with this company or use it to rent properties? I had never heard of it
You should check out this new company named Uber. It's really cool.
Posted on 6/8/17 at 9:50 pm to Ramblin Wreck
quote:
Anybody familiar with Airbnb?
Never heard of them. Do they fly out of New Orleans?
Posted on 6/8/17 at 9:51 pm to Ramblin Wreck
Wait until you find out about Amazon.com
That shite is gonna blow your mind.
That shite is gonna blow your mind.
Posted on 6/8/17 at 9:58 pm to MrSpock
Okay youngsters, I admit I'm not up to speed on the modern ways of doing stuff. I should get out more. Back in the horse and buggy days of the 1970's and 1980's when I grew up them there computers were still kinda new and Al Gore hadn't invented the internet yet.
Now if we can move past that maybe I can clarify what I'm asking. I have purchased a beach condo as an investment property that pays for itself, but never thought about a downtown condo for the sole purpose of short term rentals. Does anyone have experience with this investment strategy?
Now if we can move past that maybe I can clarify what I'm asking. I have purchased a beach condo as an investment property that pays for itself, but never thought about a downtown condo for the sole purpose of short term rentals. Does anyone have experience with this investment strategy?
Posted on 6/8/17 at 11:24 pm to Ramblin Wreck
They will be glad to put Syrian refugees in your new condo.
Posted on 6/9/17 at 8:30 am to iAmBatman
quote:
Wait until you find out about Amazon.com
That shite is gonna blow your mind.
Funny you mention Amazon. This woman that sits near me at work was JUST bragging about how she can order stuff on Amazon and have it delivered in 2 days.
Posted on 6/9/17 at 8:48 am to VinegarStrokes
Word is there are folks in NOLA who are using a combination of AirBnB with the racket that is the Historic Tax Credits in NOLA to renovate crappy properties, business expense the hell out of the process and then avoid paying almost all hotel/motel/bed taxes in NOLA-a staple of their economy being tourism and all-by renting it strictly using VRBO/AirBnB/social media.
There are a few folks on this board who are becoming modern-day hotel tycoons down there, one AirBnB rental house at a time. Now...If you want to ask their neighbors the lesser evil of a dilapidated or run-down house in their hood versus a nice new renovated house in their hood that is rented out to an endless slew of short-term folks here to go out and get blitzed at least a few times while they're here and come in at all hours...I'm not sure how they'd answer.
I'm sure its not that bad, but it's definitely a brave new world. New Orleans' tax base is being impacted by the loss of hotel-related taxes brought about by this...and the taxes they're losing out on with the Historic reno stuff I'm not sure of.
There are a few folks on this board who are becoming modern-day hotel tycoons down there, one AirBnB rental house at a time. Now...If you want to ask their neighbors the lesser evil of a dilapidated or run-down house in their hood versus a nice new renovated house in their hood that is rented out to an endless slew of short-term folks here to go out and get blitzed at least a few times while they're here and come in at all hours...I'm not sure how they'd answer.
I'm sure its not that bad, but it's definitely a brave new world. New Orleans' tax base is being impacted by the loss of hotel-related taxes brought about by this...and the taxes they're losing out on with the Historic reno stuff I'm not sure of.
Posted on 6/9/17 at 9:54 am to GFunk
I would not buy a property based on the idea that short term rentals will always be easy profit. Orleans Parish is going to continuously try to up the regulation/taxation of short term rentals as it is a largely untapped revenue stream for the city.
This post was edited on 6/9/17 at 9:55 am
Posted on 6/9/17 at 9:54 am to NOFOX
quote:
NOFOX
quote:
I would not buy a property based on that short term rentals will always be easy profit. Orleans Parish is going to continuously try to up the regulation/taxation of short term rentals as it is a largely untapped revenue stream for the city.
Neither would I. But there are folks who absolutely have and-in the short term, anyway-are making and have made an absolute killing.
Posted on 6/9/17 at 9:56 am to GFunk
Yes. But now you're limited to 90 days per year and need to carry an expensive insurance policy to get a license
Posted on 6/9/17 at 10:06 am to rocket31
quote:
Yes. But now you're limited to 90 days per year and need to carry an expensive insurance policy to get a license
And it will get worse from there. It was very profitable in the past, but now that Orleans has its tentacles out....I would be very cautious.
Posted on 6/9/17 at 12:20 pm to GFunk
It's completely regulated now. They have the new rules set up and airbnb is providing the city with who's doing what. The taxes are paid for you through airbnb, it's not the Wild Wild West anymore. Have to get licensed and follow the guidelines
Posted on 6/9/17 at 12:24 pm to rocket31
quote:
Yes. But now you're limited to 90 days per year and need to carry an expensive insurance policy to get a license
Only certain people are limited to 90 days. It depends on the zoning of your property, or if you live on the property or own a duplex or tri plex. Certain places can still do year round, and some can only do 90 days. French quarter can't do it at all anymore. The insurance policy that airbnb provides with their service is allowed to be used with what the city requires
This post was edited on 6/9/17 at 12:28 pm
Posted on 6/9/17 at 1:13 pm to rocket31
quote:
It appears you need to live on property or get a commercial license to do more than 90 days
Correct
Posted on 6/9/17 at 8:28 pm to Ramblin Wreck
quote:
Now if we can move past that maybe I can clarify what I'm asking. I have purchased a beach condo as an investment property that pays for itself, but never thought about a downtown condo for the sole purpose of short term rentals. Does anyone have experience with this investment strategy?
To answer your OP, I believe airbnb and VRBO are the same company. Just FYI.
Posted on 6/9/17 at 9:01 pm to LSU alum wannabe
They are not the same company.
Posted on 6/9/17 at 9:05 pm to birdieman
quote:
They are not the same company.
Damn it!!
You're right. homeaway.com
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