Thank you. You were thorough enough to give someone a place to start. I was just watching another video and she gave quite vague info and tried to sell her coach class. Thanks girl. God bless
Hi Lydia, Really hope you don`t change. Unlike hundreds of deceiving clips out there, Your video is simply mind blowing, honest and educational with no strings attached. Well done :)
Super happy to find a very technical approach to airbnb. Although we dont have such tools in the Philippines, im happy to see through your vids how it should be done the right way.
I really appreciate your video VERY Much. as a fellow healthcare professional, i do appreciate how your real estate journey has gone. I like that you are very upfront with the resources you used and has worked for you. Like minded, I do like that you mention that if you are laid off at work to have security money incase things go south and you need to use your reserve funds. I appreciate the real life expectations. these small details shows that you do care about sharing your knowledge and appreciate others like myself. THANK you. Please make more content!!
I’ve had guests ask, so Kim, what’s the best Keto diet place, or where do I eat if I’m vegetarian? Where can we go tonight to have fun? Be ready for it! Also..,some reallly good advice, be sure & white glove clean your property. I’ve had guests nit pick to get discounts. I take pictures & video prior to stays just for this reason. So many things to learn, pricing strategies for slow season, best elements needed for good guests, ( baby stuff of dogs, gift baskets, etc)
@@lydiapatelll West Michigan, in a very rural wooded area. Lots of hiking and nature, but also about 20 minutes from popular beach towns. I am hoping the appeal is to get out in nature. Its about 2 hours from Chicago, which is probably where most visitors will be coming from. Also about 90 minutes from me, and I am excited to be using it as well when not booked.
Hi Lydia, great vid. Thank you so much for the detailed breakdown. Starting my first airbnb in Dubai, researching and came across your video. Had 5 other tabs open and shut them down as soon as you started speaking. No BS. 🙂 Side note: tracking expenses is my Achilles too. I'll keep you posted on my progress. Planning to launch September so whenever you and hubby plan to travel this side, will be happy to host you. Wishing you continued success and countless blessings.
That awkward moment when you end up here because you’ve been thinking of investing in a property around Lake Travis 🤭 Appreciate all the tips you shared!
Thank you so much for taking the time to share all this information. It is very useful and very well explained. I love your step by step details, this is exactly what I was looking for to satisfy my questions. Looking forward to your next videos and the best of luck with your investments.
I’d like a deep dive on how to structure an STR business. Does it make sense to launch the first STR with a mortgage taken out in my own name on my personal credit, or through a business? If a business, how does one go about building the necessary credit for the business to even qualify for the mortgage? What is the most efficient in terms of tax strategy?
Great info! It has been 2 months with my Airbnb, learned mostly in RUclips, FB groups, and friends. Plus I am a Realtor in DFW Dallas Tx área, so that helped a lot😊. It is working well so far, much better than long term rental,
So informative and love all the recommendations Lydia. I’m listing our first tiny house we built ourselves in our back yard and can’t wait to watch your tiny house video next!
Very helpful! It would be great to see a more detailed video assuming you already have the house (ideally one that is not close to where you live) and are looking to get into the rental market. How to manage the property (or hire a property manager), considerations for furniture, amenities, and items you may not think of to start but turn out to actually be important. Thanks!
Love this video. Super helpful. It was confirmation that I'm on the right track and there was also helpful information that I didn't think about. Thank you!🥰
Great advice, 👍 However, I don’t advice to change the utilities, buy furniture, buy house insurance or do any improvements until escrow actually closes.
Good point, thank you! The home insurance I should clarify is a coordination between the mortgage lender and insurance company - quotes are all done before but the actual purchase lines up with the purchase.
New subscriber! Glad I found your channel. Very similar scenario. Also in healthcare. Local LTR and closing next month on our dream STR at the beach. Can’t wait to dive into your other content and advice.
I’m planning on doing a rent to rent (sublet) could you please give some pointers, pros and cons etc. what to do and what not to do. Would really appreciate it. Thanks.
Loved your video great information!!What about safety or accidents at your property? Example we have a cliff over looking water but also flat area very beautiful on our property.
wow, this video is really informative and gives a solid overview for beginners. but honestly, i feel like the risks might be overstated. while it’s good to be cautious, i think many people can succeed by being proactive and adaptable. what do you guys think?
Very educational and organic video. Can you elaborate some on cleaning services to get the property ready before each visit, how you deal with visitors damaging property, etc. thanks!
Great video. Thanks for sharing the details and honesty. Not sure if you’ve already done video about how to use Hospitable to avoid double booking. If so, please share the link. If not, that’d be a great content for the next video.
I've been researching and this whole process is overwhelming. Especially as I would do a 1031 on a long term rental I would sell, then thinking of the possibility I don't make nearly the amount on it as I do now. But I have always wanted a place in the Carolina's.
The distinction is gray.. both do similar tasks. Legally most states require some licensing for PM. In my mind- Hosting is your own property vs property management is “cohosting” for someone else- but this is just how I personally separate them! Curious if others have other perspectives ☺️
So can you talk about the Permitting process, not construction work permitting but securing your STR Permit or License. Nobody seems to talk about this, that you can no longer just open up an AirBnB or VRBO without getting a Permit or a License from the town. We just acquired our first property and this is the 2nd hurdle that we must overcome. We cannot just start renting - we are now completing the application to secure our Vacation Rental License or Permit.
Super location specific info- best to just contact the city you’re located in to make sure you have all the paperwork. I have more info in my set up guide video re what I did (state, county, city licensing)
@@lydiapatelll it's important tho' to mention permitting - as part of the steps that must be taken - I just realized no one ever talks about it - and it is super important - after setting up an LLC - acquiring the property - then one must go thru applying for your STR Special Use Permit - we are going thru that step/stage right now and it's intense 😊😅
Thank you for this very informative video. Wondering how much was net revenue for the smaller property? For the beach house can't you spread the expenses over several years?
Revenue was about $1200/mo average I think. It’s been a while! Profit not that far off, honestly don’t remember. Beach house capital expenses from an accounting and tax perspective yes it’s spread out. But cash paid is still cash paid at the moment 🤷🏻♀️
Thanks for the content! Great info! I'm looking at potentially investing in property for a rental, both already existing structures and land to build something. Thanks for your time and transparency!
Thank you for the education. I own 3/4 acre plot of land in the heart of Pahoa town in Hawaii. Gonna do a glamping/cabin airbnb. Hopefully I can fit 2 to 3 units on my property. We have a lot of tourists in the area for the lava viewing down kalapana and old flows in pahoa/leilani estates
Great video… do you do coaching? I bought 3 units in Colombia and want to put them on Airbnb but nervous on how to manage the units while living in the states
Thank you so very much for your channel Lydia, tremendously great advice. Thank you for being so willing to share this knowledge and share your experience to help others.
Would you need to put together a business plan? Like, what was your "planning process" in the beginning? I'm stuck on planning, like sheets, security, etc.
Great idea for a future video! In short, I break it into chunks- legal/admin, furnishing, setup, assembling team, softwares, maintenance. I use asana to help make a giant categorized to do list and stay on task (and delegate 😉)
Love your clips Lydia. Find them very useful in doing financial analyses. Just wondering how to get your Airbnb calculator as I've tried to download it twice, both times unsuccessfully. Thank you.
I want to start but I do not know how much I should have saved in order to find a property and have a cushion in case I can’t get rentals in yk. Also the file wouldn’t load for me at all. My numbers things wouldn’t let me. How much should I save to get my first property? Do I need an llc or what?
How much you need to save is kind of personal preference and risk tolerance- for me that is kind of medium. I'm not qualified to give financial advice, but I share how I conceptualize portfolio risk/income sources here: ruclips.net/video/dhniLuGeuj4/видео.html LLC question answered here: ruclips.net/video/TXmRiIwJXjI/видео.htmlsi=s4Q2w6hC26HKhqGV
The piece of real estate I bought in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
Portfolio diversification is most advisable in your investment career, well I think you need to get a financial expert to assist you with the best financial goal._
Right, I delegate all my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm part-retired with barely 30% short of my $1m retirement goal after subsequent investments.
Once you hit a milestone, the next one comes easier.. would you mind dropping info of your Invest-Adviser please? I'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance,.
Wow, so insightful! You mentioned tax benefits and keeping records of expenses. How would you suggest researching on what are the things you can and cannot write off or deduct? Especially when it’s a property that is also your primary residence, with an ADU or second unit. I’m also looking for a CPA, but before then I would like to do some research and know what to expect. Thanks!
For ADU, separate out “whole house expenses” (eg utilities, property tax) and “specific expenses” (eg cleaning of the ADU, new tp for the unit). Whole house expenses you can deduct the percentage attributed to the ADU, usually based on sq ft. Definitely a lot to look into this topic, hope this gives you a quick overview!
Haven’t done a standalone one, just the tiny house in my backyard. Having someone do a short clean is expensive, but other than that it can work really well!
Since you can set up automated messages on AirBnb and VRBO and you can sync your calendars on those platforms, what is the benefit to paying for Hospitable?
fair question- it helps if you also use booking.com and you get to use a centralized inbox, but certainly you could accomplish some of the automation just on the native platforms as well! (there have also probably been some improvements since the time i started a couple years ago).
NEVER PARTNER WITH AIRBNB I HAVEN'T RECEIVED THE PAYMENT FROM THEM .WHEN I CONTACT THEM,THEY ALWAYS SAID I HAVE TO WAIT...WAITING AND WAITING WTF WHY I HAVE TO WAIT,WHEN THE CUSTOMER PAID THEM ALREADY AND I HAVE TO WAIT ALMOST 1 MONTH FR NOW. THEY STILL NOT RESPONSIBLE FOR THAT WHERE IS MY MONEY????
Hi Lydia. I am also a superhost in Canada but will like to expand to the US market due to Canada restrictions. My major challenge is getting a rental property. Is this something you can work with me on. Thank you.
Lydia - great informative video! I’m curious about the benefits of working with a realtor. Do you think you could have achieved same results with doing your own research via airdna (or similar) and Zillow and researching str regulations?
Hey Denis! I did both- realtors can be a great resource but I can’t rely on them to work as my fiduciary 😉 STR regulations have been pretty straightforward from calling/emailing the local govt offices! They’ve been very helpful.
I didn’t do any courses, and any licenses would depend on jurisdiction (eg none in my small town Mn listing, but like 5 licenses for FL..). Google “short term rental regulations ___(insert location)”
Love your energy. Honest, humble, clear to the point and calm. ☺
Thanks! 🥰
Thanks so much for the no BS pros/cons of Airbnb. As a fellow healthcare worker I appreciate your content.
Thank you!
Thank you. You were thorough enough to give someone a place to start. I was just watching another video and she gave quite vague info and tried to sell her coach class. Thanks girl. God bless
Thanks for taking the time to leave a comment. This was what I was hoping to achieve!
Hi Lydia, Really hope you don`t change. Unlike hundreds of deceiving clips out there, Your video is simply mind blowing, honest and educational with no strings attached. Well done :)
In any business… trust the numbers. The numbers don’t lie! Thank you for your info!
Nice tips, a lot of people underestimate the homework that needs to be done prior to getting in the game.
I’m new to your channel and as a fellow working mom in healthcare I love it! It is so informative and to the point.
Thanks! Great to have you here!
Such high quality information ! I learnt so much in juts 20 minutes. You just got yourself a new subscriber
Thanks for watching!
Super happy to find a very technical approach to airbnb. Although we dont have such tools in the Philippines, im happy to see through your vids how it should be done the right way.
You’re by far one of the content creators I most enjoyed listening talking about this whole process, thank you!
Thanks ❤️❤️ so glad you enjoyed this
I really appreciate your video VERY Much. as a fellow healthcare professional, i do appreciate how your real estate journey has gone. I like that you are very upfront with the resources you used and has worked for you. Like minded, I do like that you mention that if you are laid off at work to have security money incase things go south and you need to use your reserve funds. I appreciate the real life expectations. these small details shows that you do care about sharing your knowledge and appreciate others like myself. THANK you. Please make more content!!
Thanks for the kind words!! A W2 income is so underrated in real estate RUclips land :-)
I’ve had guests ask, so Kim, what’s the best Keto diet place, or where do I eat if I’m vegetarian? Where can we go tonight to have fun? Be ready for it!
Also..,some reallly good advice, be sure & white glove clean your property. I’ve had guests nit pick to get discounts. I take pictures & video prior to stays just for this reason. So many things to learn, pricing strategies for slow season, best elements needed for good guests, ( baby stuff of dogs, gift baskets, etc)
Great advice!
Thanks for the advice. Working on getting my first STR up and running. Remodeling/repairs is going longer than I would prefer, but still excited.
That is so exciting! Congrats on getting started. Where is your STR? Best of luck ❤️
@@lydiapatelll West Michigan, in a very rural wooded area. Lots of hiking and nature, but also about 20 minutes from popular beach towns. I am hoping the appeal is to get out in nature. Its about 2 hours from Chicago, which is probably where most visitors will be coming from. Also about 90 minutes from me, and I am excited to be using it as well when not booked.
@@arozi1391 love that! I still fondly remember a family trip to south haven, MI. Lovely area. Wish you all the best in your setup!
My husband and I own retirement businesses in Washington and would like our vacation home FL ❤. This is for our goal for 2025! I’m excited
Love that for you both!
Hi Lydia, great vid. Thank you so much for the detailed breakdown. Starting my first airbnb in Dubai, researching and came across your video. Had 5 other tabs open and shut them down as soon as you started speaking. No BS. 🙂
Side note: tracking expenses is my Achilles too. I'll keep you posted on my progress. Planning to launch September so whenever you and hubby plan to travel this side, will be happy to host you.
Wishing you continued success and countless blessings.
All the best with your Airbnb and please keep us posted!
@@lydiapatelllthanks Lydia, will do for sure.
That awkward moment when you end up here because you’ve been thinking of investing in a property around Lake Travis 🤭
Appreciate all the tips you shared!
Haha things may change over there in the future..?
OMG, thank you for all that info. yes, overwhelming... but gives me an idea. much appreciated
Thank you so much for taking the time to share all this information. It is very useful and very well explained. I love your step by step details, this is exactly what I was looking for to satisfy my questions. Looking forward to your next videos and the best of luck with your investments.
Glad it was helpful! Thanks :-)
😂😂😂😂 you killed me over the usage of terminology there. Legend!
I’d like a deep dive on how to structure an STR business. Does it make sense to launch the first STR with a mortgage taken out in my own name on my personal credit, or through a business? If a business, how does one go about building the necessary credit for the business to even qualify for the mortgage? What is the most efficient in terms of tax strategy?
that is what i want to know
Great info! It has been 2 months with my Airbnb, learned mostly in RUclips, FB groups, and friends. Plus I am a Realtor in DFW Dallas Tx área, so that helped a lot😊. It is working well so far, much better than long term rental,
Wonderful to hear your Airbnb has been doing well :-) I'd love to explore the DFW area, we have family close by
Me too! I’m in ca going to do my second very soon!
I loved the way you explained the process in this video. Instant Sub❤
Do you invest in state or out of state?
Hey Mario! I’m Mario! I’m a realtor here in AZ. I’m looking to get into this airbnb biz. How did you get started?
Skip to the 12 minute mark if you already own a home that you’re going to Airbnb.
Sending you internet points! Thank you for your service
Yep, THANKS!
Thank you Sir
Thank you
Thanks so much!
So informative and love all the recommendations Lydia. I’m listing our first tiny house we built ourselves in our back yard and can’t wait to watch your tiny house video next!
So exciting!
Very helpful! It would be great to see a more detailed video assuming you already have the house (ideally one that is not close to where you live) and are looking to get into the rental market.
How to manage the property (or hire a property manager), considerations for furniture, amenities, and items you may not think of to start but turn out to actually be important. Thanks!
My short term rental playlist has exactly this info!
My short term rental playlist has exactly this info!
Outstanding information, so legit and straight from the heart..you can tell just based on how she's presenting it. Thanks again!
Thanks for watching!
Love this video. Super helpful. It was confirmation that I'm on the right track and there was also helpful information that I didn't think about. Thank you!🥰
You are so welcome and I’m glad it helped! ☺️
Great advice, 👍 However, I don’t advice to change the utilities, buy furniture, buy house insurance or do any improvements until escrow actually closes.
Good point, thank you! The home insurance I should clarify is a coordination between the mortgage lender and insurance company - quotes are all done before but the actual purchase lines up with the purchase.
New subscriber! Glad I found your channel. Very similar scenario. Also in healthcare. Local LTR and closing next month on our dream STR at the beach. Can’t wait to dive into your other content and advice.
That is awesome! Best of luck ❤️
Great information!! Found you while searching for “how to start an Airbnb business”. So glad you popped up! New subbie!! 😊
Welcome! 🤗
I’m planning on doing a rent to rent (sublet) could you please give some pointers, pros and cons etc. what to do and what not to do. Would really appreciate it. Thanks.
Loved your video great information!!What about safety or accidents at your property? Example we have a cliff over looking water but also flat area very beautiful on our property.
Definitely talk to an insurance person regarding that. There are other properties like this on Airbnb so I’m guessing it can be done!
wow, this video is really informative and gives a solid overview for beginners. but honestly, i feel like the risks might be overstated. while it’s good to be cautious, i think many people can succeed by being proactive and adaptable. what do you guys think?
Fair point, everyone has a different appetite for risk
You are a very sharp gal! Excellent video. Straightforward. No b.s. Thank you!
Thanks!
thanks for the info, we are just now looking into doing a vacation rental, we have a lot learn before we jump in.
Thanks for watching!
Very educational and organic video. Can you elaborate some on cleaning services to get the property ready before each visit, how you deal with visitors damaging property, etc. thanks!
Thanks! Next Q&A will have the guest question- doing edits right now 😉
Great video. Thanks for sharing the details and honesty. Not sure if you’ve already done video about how to use Hospitable to avoid double booking. If so, please share the link. If not, that’d be a great content for the next video.
Not yet. Thanks for the idea!
I am your new fan. Liked and subscribed. Love your vibes and explanation.
Thank you!
do you have a video about how to start listing a new property on Airbnb? what are the pointers etc
Detailed tips | EVERY section of an Airbnb listing explained
ruclips.net/video/axxkShYgMqw/видео.html
Lydia, Thanks so much for sharing your experience. Just opened my first little listing....room in my home ;-)
Very cool! Best of luck 😊😊
My question is how to do the initial pricing correctly for a new airbnb on market for 1st day?
As in.. how to analyze a market? Or how to project revenue?
Look at the properties around it
I've been researching and this whole process is overwhelming. Especially as I would do a 1031 on a long term rental I would sell, then thinking of the possibility I don't make nearly the amount on it as I do now. But I have always wanted a place in the Carolina's.
Love this video diva! Thank you!
Can you make more videos on business credit cards 💳 , and limitations on write offs at the end of the year. Great tips on this video, thanks. 😊
I'd love to add that to the list. Thanks for the idea!
This was excellent, Lydia, thank you. Tremendously helpful
Thanks, Clarissa!
This video was so helpful Lydia thank you. Can you explain more the difference between a host and property manager ?
The distinction is gray.. both do similar tasks. Legally most states require some licensing for PM. In my mind- Hosting is your own property vs property management is “cohosting” for someone else- but this is just how I personally separate them! Curious if others have other perspectives ☺️
I would like to see how you furnish your next AirBNB .. Great video
6:55 had me dying 😂😂😂 good info though.
I’m owning it! 😂
Great video and information! Thank you!❤❤❤
Thanks for watching!
Meri, merci, merci beaucoup! Thank you for sharing. Time to take action now.
You got this!
We just purchased a duplex unit at an island destination and really looking forward to the journey. Thanks for this informational video.
Congratulations! Best of luck with the duplex.
Excellent video
Thank you 😊
So can you talk about the Permitting process, not construction work permitting but securing your STR Permit or License. Nobody seems to talk about this, that you can no longer just open up an AirBnB or VRBO without getting a Permit or a License from the town. We just acquired our first property and this is the 2nd hurdle that we must overcome. We cannot just start renting - we are now completing the application to secure our Vacation Rental License or Permit.
Super location specific info- best to just contact the city you’re located in to make sure you have all the paperwork. I have more info in my set up guide video re what I did (state, county, city licensing)
@@lydiapatelll it's important tho' to mention permitting - as part of the steps that must be taken - I just realized no one ever talks about it - and it is super important - after setting up an LLC - acquiring the property - then one must go thru applying for your STR Special Use Permit - we are going thru that step/stage right now and it's intense 😊😅
Loved this. Thank you for just giving info. I appreciate it
Thank you for this very informative video. Wondering how much was net revenue for the smaller property? For the beach house can't you spread the expenses over several years?
Revenue was about $1200/mo average I think. It’s been a while! Profit not that far off, honestly don’t remember.
Beach house capital expenses from an accounting and tax perspective yes it’s spread out. But cash paid is still cash paid at the moment 🤷🏻♀️
@@lydiapatelll true! 😆
Thanks for the content! Great info! I'm looking at potentially investing in property for a rental, both already existing structures and land to build something. Thanks for your time and transparency!
Thanks for watching and best of luck with your project!
Thank you so much.
My question would be what insurance as a host should I require my guests have?
I don’t have a requirement on my end for guests to carry insurance
Thank you for the education. I own 3/4 acre plot of land in the heart of Pahoa town in Hawaii. Gonna do a glamping/cabin airbnb. Hopefully I can fit 2 to 3 units on my property. We have a lot of tourists in the area for the lava viewing down kalapana and old flows in pahoa/leilani estates
Sounds amazing! All the best :-)
Are you experienced in auctions foreclosures and preconstruction deals for flipping ?
Great video… do you do coaching? I bought 3 units in Colombia and want to put them on Airbnb but nervous on how to manage the units while living in the states
Occasionally. Send me an email hello@lydiapatel.com
Thank you so very much for your channel Lydia, tremendously great advice. Thank you for being so willing to share this knowledge and share your experience to help others.
THIS WAS SO HELPFUL!
Would you need to put together a business plan? Like, what was your "planning process" in the beginning? I'm stuck on planning, like sheets, security, etc.
Great idea for a future video! In short, I break it into chunks- legal/admin, furnishing, setup, assembling team, softwares, maintenance. I use asana to help make a giant categorized to do list and stay on task (and delegate 😉)
Hey
Is it best to create your own website and host or rather use airbnb website as a host?
Pros and cons for each- starting out, Airbnb is easier to reach more people quickly. Down the line, own website can be helpful for direct bookings.
Love your clips Lydia. Find them very useful in doing financial analyses. Just wondering how to get your Airbnb calculator as I've tried to download it twice, both times unsuccessfully. Thank you.
I’ll fix it the link tomorrow- thanks for letting me know!
This is very useful. Your link to the spreadsheet appears to be broken however.
Thank you for letting me know! I think I fixed it. :-)
Great information. Thank you so much 👍
i love this idea. can you help me how? Thank you
Check out my other Airbnb related content, and let me know if you have further questions!
HI, thanks so much for what you post. Couldn't open the calculator :( :(
so sorry! send me an email hello@lydiapatel.com and I'll get you the copy.
I want to start but I do not know how much I should have saved in order to find a property and have a cushion in case I can’t get rentals in yk. Also the file wouldn’t load for me at all. My numbers things wouldn’t let me. How much should I save to get my first property? Do I need an llc or what?
How much you need to save is kind of personal preference and risk tolerance- for me that is kind of medium. I'm not qualified to give financial advice, but I share how I conceptualize portfolio risk/income sources here: ruclips.net/video/dhniLuGeuj4/видео.html
LLC question answered here: ruclips.net/video/TXmRiIwJXjI/видео.htmlsi=s4Q2w6hC26HKhqGV
This helped me thank you
Glad this helped! 🥰
Thanks so much. I’m setting up new Airbnb in Toronto now. I need help preparation for listing. Please advise
Best of luck! Feel free to post questions as you go through the other videos.
@@lydiapatelll
Thanks so much
Thanks for the info..
Matsala. 😊 I'll follow👍😎
Thanks!
How much would you say to spend on furniture?
Thank you ❤
You are so welcome
I have 3 empty properties overseas and wanting to see if I can AirBnB them.
The piece of real estate I bought in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
Portfolio diversification is most advisable in your investment career, well I think you need to get a financial expert to assist you with the best financial goal._
Right, I delegate all my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm part-retired with barely 30% short of my $1m retirement goal after subsequent investments.
Once you hit a milestone, the next one comes easier.. would you mind dropping info of your Invest-Adviser please? I'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance,.
SONYA LEE MITCHELL is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
Thank you for this lead. I searched her up, and I have sent her a message. I hope she gets back to me soon
You made some good points
Great video! This is going to help me a lot.
you are amazing! Thank you for simplifying this a lot
Aww thank you!
Dumb question, but would you send me the link to your spreadsheet? I can’t find it. Great video. I took lots of notes!
The link is in the description!
Where at in Florida? I just bought mine on the Florida Atlantic coast.. would love to hear about your success
We’re in Jax beach, you? Congrats on the purchase!
What are the apllication you use for airbnb again?
?
Wow, so insightful! You mentioned tax benefits and keeping records of expenses. How would you suggest researching on what are the things you can and cannot write off or deduct? Especially when it’s a property that is also your primary residence, with an ADU or second unit.
I’m also looking for a CPA, but before then I would like to do some research and know what to expect. Thanks!
For ADU, separate out “whole house expenses” (eg utilities, property tax) and “specific expenses” (eg cleaning of the ADU, new tp for the unit). Whole house expenses you can deduct the percentage attributed to the ADU, usually based on sq ft. Definitely a lot to look into this topic, hope this gives you a quick overview!
@@lydiapatelll Thank you! This is super helpful as well as all of your content!!!
Have you ever considered tiny homes? Or is that not something you've ever figured are worthwhile?
Haven’t done a standalone one, just the tiny house in my backyard. Having someone do a short clean is expensive, but other than that it can work really well!
@@lydiapatelll Thank you! And thank you for your content! You're really putting out some great information, and it's very much appreciated!
What is the APY on each of your property?
Great summary video! Thank you!
Since you can set up automated messages on AirBnb and VRBO and you can sync your calendars on those platforms, what is the benefit to paying for Hospitable?
fair question- it helps if you also use booking.com and you get to use a centralized inbox, but certainly you could accomplish some of the automation just on the native platforms as well! (there have also probably been some improvements since the time i started a couple years ago).
Very professional and helpful!
Good job. Lots of info - presented well.
great video, thank you!! which app/site do you use to sync calendars between airbnb and vrbo, for example?
Hospitable ($30 credit): hospitable.com/?grsf=htt7vt it really helps me out when you use my link, so thanks in advance!
amazinggg video
This is deep, I just subscribed to your channel
Love how honest you’re. I am very new to this would love to contact you and work with you and your partners to learn more.
Thanks! Email and IG in description 😊
@@lydiapatelll amnews with this as well i will love to work with u as well
So for the beach house, after expenses you’re only going to net $10K?
Thank you 🙏🏽
NEVER PARTNER WITH AIRBNB
I HAVEN'T RECEIVED THE PAYMENT FROM THEM .WHEN I CONTACT THEM,THEY ALWAYS SAID I HAVE TO WAIT...WAITING AND WAITING
WTF
WHY I HAVE TO WAIT,WHEN THE CUSTOMER PAID THEM ALREADY
AND I HAVE TO WAIT ALMOST 1 MONTH FR NOW.
THEY STILL NOT RESPONSIBLE FOR THAT
WHERE IS MY MONEY????
So sorry about your experience, maybe try editing your comment to tag Airbnb? Otherwise I’m not really affiliated with the company and I can’t help.
Hi Lydia. I am also a superhost in Canada but will like to expand to the US market due to Canada restrictions. My major challenge is getting a rental property. Is this something you can work with me on. Thank you.
Send me an email hello@lydiapatel.com with what you need.
Lydia - great informative video! I’m curious about the benefits of working with a realtor. Do you think you could have achieved same results with doing your own research via airdna (or similar) and Zillow and researching str regulations?
Hey Denis! I did both- realtors can be a great resource but I can’t rely on them to work as my fiduciary 😉 STR regulations have been pretty straightforward from calling/emailing the local govt offices! They’ve been very helpful.
Looking to sell my Airbnb with superhost status , I’m going into the construction industry.
When will the vault be available?
😅 working on it whenever I’m able! Crossing fingers for August/sept?
@@lydiapatelll Thank you for the response and video! Very helpful :)
Can you help me like nobody saying if you need a license like what all do you need to do it legal,like do I need to take a real estate course
I didn’t do any courses, and any licenses would depend on jurisdiction (eg none in my small town Mn listing, but like 5 licenses for FL..). Google “short term rental regulations ___(insert location)”