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Posted on 6/28/23 at 8:12 am to stout
Watched a video on this and HOLY shite it's bad.
Supposedly they had NINJA-type loans, too
Supposedly they had NINJA-type loans, too
Posted on 6/28/23 at 8:16 am to stout
quote:bed bugs
People are going back to hotels.
Posted on 6/28/23 at 8:17 am to SabiDojo
quote:
I’m not paying you $2,200 for three days and be expected to do chores. Hotels work just fine
This.
Posted on 6/28/23 at 8:18 am to olgoi khorkhoi
quote:I don’t believe you
2000+ sq' 3 bedroom airbnb with a full kitchen, 3 bathrooms and washer/dryer that costed the same as a 350 sq' holiday inn express with two queen beds
Posted on 6/28/23 at 8:29 am to yellowfin
quote:
Im staying in an Airbnb house in San Diego next month with wife and kids. Way more expensive than a hotel room but I wanted the space and it’s a couple blocks from beaches
If it's shaped like a tugboat, I've stayed there
Posted on 6/28/23 at 8:32 am to QJenk
quote:
Air bnbs do have their benefits. For example, we did a joint vacation with my brother and his family, and my cousin and her family.
Maybe about 12 of us, and we all fit into an Airbnb in Clearwater FL.
We split the cost, and it was a great way we could all stay together. Have more space, a full kitchen, multiple bathrooms, multiple tvs, enjoy meals together without going out to eat, etc.
Big party over a longer period of time is how you make them +EV.
A 1-2 night stay for a person/couple is usually very -EV
Posted on 6/28/23 at 8:34 am to JohnnyKilroy
quote:
They aren't terrible but it's wayyy more expensive than it used to be and that started before bidenflation.
Uber/Lyft were going through venture capital investments, selling rides at a loss to gain credibility and marketshare.
It was obvious then that there was no way that 5 dollar ride was paying for the driver's time, the driver's car, and uber's overhead.
These ride share programs (and food delivery companies/pizza joints) count on the drivers not thinking about their vehicles being worth about 60 cents per mile.
Posted on 6/28/23 at 8:40 am to ChiTownBammer
quote:
Then the next one will give her 3 dollars to take a 60 dollar Outback order 15 miles away. None of it adds up. Seems a bit like Tulip Mania.
Don't you get the option to turn down jobs? You'd be losing money on that job.
Posted on 6/28/23 at 8:43 am to JohnnyKilroy
quote:
I'm not saying Airbnb is gonna go tits up, but I feel like the vast majority of the public doesn't realize that all of these new "gig" economy services that have sprouted up over the last 10 or so years were HEAVILY subsidized by VC and dirt cheap debt.
Uber, AirBNB, DoorDash, instacart etc etc. Remember how in the beginning everyone was like "holy shite this is a similar, if not better experience than the status quo AND IT'S CHEAPER TOO"
It was cheaper because all of the companies running these apps/services were burning hundreds of millions/billions per year propping up their product attempting to build a moat in an emerging sector.
Well that cheap credit and loose VC dollars dried up and now those companies went from blackbox private ventures to publicly traded companies that have to air out all their shite publicly for everyone to see. The VC guys cashed out and now the "public" wants return on their investment. No more subsidizing your "contractors" or customers.
Very good point for the larger issue with the "gig/sharing" economy.
I'm more curious how this affects RE. This is, yet another, inflationary avenue to maintain/increase RE prices. I just don't understand how many of these can avoid "popping" or how they've lasted this long in the first place.
Posted on 6/28/23 at 8:43 am to yellowfin
quote:I have need extra space before , therefore I begrudgingly get the AirBnB. Also, I have had situations where there were no hotels close by to where I needed to be (residential area). Again, had to get the AirBnB .
Way more expensive than a hotel room but I wanted the space
Posted on 6/28/23 at 8:47 am to SlowFlowPro
At this point would only use an Airbnb if it’s a large group that we need a big house for.
I don’t like being charged a cleaning fee and still having to clean and go through a 10 point check list of stuff.
Also last time we got one in Cleveland North Carolina, we pulled up and ghetto apartments were behind it and we watched 2 drug deals go down. So we left, and got our money refunded we stayed in the Hampton inn.
I’ll take a hotel when it’s just me and the wife. I can check in easy, I know what to expect and it’s not like I’m hanging out in the room all that much.
I don’t like being charged a cleaning fee and still having to clean and go through a 10 point check list of stuff.
Also last time we got one in Cleveland North Carolina, we pulled up and ghetto apartments were behind it and we watched 2 drug deals go down. So we left, and got our money refunded we stayed in the Hampton inn.
I’ll take a hotel when it’s just me and the wife. I can check in easy, I know what to expect and it’s not like I’m hanging out in the room all that much.
Posted on 6/28/23 at 8:48 am to SlowFlowPro
I’m curious when these pop who scoops them up. I might would want a new house on the cheap but it would probably need to be a way more rural one. I feel like ones in the city are going to all be in bad areas
Posted on 6/28/23 at 8:53 am to Big4SALTbro
I was literally looking at the prices for condos in Sandestin after watching the video just because I was curious where they were at right now.
Like I said I watched a video about this yesterday and a lot of these rentals are not income verified and very little was put down because of a specific loan that was offered for short-term rentals based on expected revenue. And there are a SHITload of them all over the US (I even saw Lake Charles on his map)
Like I said I watched a video about this yesterday and a lot of these rentals are not income verified and very little was put down because of a specific loan that was offered for short-term rentals based on expected revenue. And there are a SHITload of them all over the US (I even saw Lake Charles on his map)
Posted on 6/28/23 at 9:00 am to SlowFlowPro
A condo down on the beach would be interesting if it hit the market after being a failed Airbnb
Posted on 6/28/23 at 9:09 am to stout
A lot of cities in the Metroplex are putting restrictions on non-hosted B&Bs. That will affect the market.
Posted on 6/28/23 at 9:10 am to Jack Daniel
Lol. We are not in a recession.
Posted on 6/28/23 at 9:12 am to Eighteen
quote:
All of the above combined have made it not worth the hassle vs just getting a hotel for the night and knowing you can check in, have clean sheets, leave when you want and know the cost.
That’s debatable.
Posted on 6/28/23 at 9:15 am to blueridgeTiger
quote:
A lot of cities in the Metroplex are putting restrictions on non-hosted B&Bs.
Popular restriction I see is that STRs have to be on the same lot as the owner-occupied resident. Basically, no standalone STR is allowed. That is completely fair.
Edit: Interesting to note about Sevierville, TN is that all STRs had their property taxes increased significantly recently to be in line with commercial properties.
This post was edited on 6/28/23 at 9:18 am
Posted on 6/28/23 at 9:18 am to BayouBandit24
yeah sorry not paying a $536 cleaning fee
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