i think few things you left out. on that 2800 (which i personally think is the more realistic number) you should take out, HOA, property management, lawn care, cleaning, internet, water, electric etc. also keep aside to a rainy day fund for maintenance and repair. at a minimum i think these operational costs will take out another 1K. and also if you bring in partners to finance the property, they will need to get paid too.
Finally some info about condotels! Side note, it would be good to mention hotel management percentage fees or Airbnb fees and extra costs to get a more accurate number. 😊
Thank you Falisha, I enjoyed watching this video with numbers breakdown on condo hotel AirBnB. One major expense that I think would need to be factored in is property management and cleaning. Is that included in $1k HOA? Subscribed!
Thank you for subscribing!!! I appreciate the interaction. So, the cleaning fee is actually displaced onto the client. So they'll see that as an additional cost on their end. And your PM fees are something you can always negotiate. They range typically from 8%-30% (I know 30% seems ridiculous but when dealing with remote cabins/snow etc. it's "standard") Hope that helps Dmitry!
Hi there, awesome video, love your energy and positivity, now would you please help me understand some details . First of all Where did you get the actual numbers on what the condo was actually making. And also, I thought condo hotels would not allow for you to make any renovations or change the furniture. Furthermore, I did not notice if you talked about management expenses. I would really appreciate if you would help us understand these things. Me and my wife are trying to learn everything we can about this. We feel like condo hotels are a good fit for us. Please help us. Thank you very much and keep up the good work.
Thank you so much for reaching out. As of yesterday we’ve received conditional approval on our loan. Getting an appraisal done has been a little tricky with all the renters currently in the unit but hopefully we’ll get that soon as well~ I can SEE the finish line!!! Stay tuned of course!
Question: As some AirBnb rates are deflating, and the average rental drops to 200-250 a month, some AirBnb owners are experiencing that, what would be your projections then?
We have to pay the dues Every month. The monthly HOA covers most of our utilities + access to all the amenities… This is a “condo-tel” so the amenities are very much like a hotel.
Super helpful video. I am thinking of purchasing a condo hotel in Miami Beach. Would you recommend leasing your unit through an Airbnb management company or through the in-house hotel program? Many thanks :) Keep on posting, truly helpful vids.
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i think few things you left out. on that 2800 (which i personally think is the more realistic number) you should take out, HOA, property management, lawn care, cleaning, internet, water, electric etc. also keep aside to a rainy day fund for maintenance and repair. at a minimum i think these operational costs will take out another 1K. and also if you bring in partners to finance the property, they will need to get paid too.
What about AirBnB fees? What about property manager fees? Not making anywhere close to that.
Finally some info about condotels! Side note, it would be good to mention hotel management percentage fees or Airbnb fees and extra costs to get a more accurate number. 😊
From what I hear, management fees are upwards of 40%. I would like to know some actual numbers, though. Chicago has some nice Condotel options.
In florida hoa condo not allow airbnb
great video! keep the content flowing this channel has potential
Thank you Falisha, I enjoyed watching this video with numbers breakdown on condo hotel AirBnB. One major expense that I think would need to be factored in is property management and cleaning. Is that included in $1k HOA? Subscribed!
Thank you for subscribing!!! I appreciate the interaction.
So, the cleaning fee is actually displaced onto the client. So they'll see that as an additional cost on their end. And your PM fees are something you can always negotiate. They range typically from 8%-30% (I know 30% seems ridiculous but when dealing with remote cabins/snow etc. it's "standard")
Hope that helps Dmitry!
Hi there, awesome video, love your energy and positivity, now would you please help me understand some details . First of all Where did you get the actual numbers on what the condo was actually making. And also, I thought condo hotels would not allow for you to make any renovations or change the furniture. Furthermore, I did not notice if you talked about management expenses. I would really appreciate if you would help us understand these things. Me and my wife are trying to learn everything we can about this. We feel like condo hotels are a good fit for us. Please help us. Thank you very much and keep up the good work.
Were you able to get financing? My company works with condotels if you’re still in need.
In any case, great vid and super helpful.
Thank you so much for reaching out. As of yesterday we’ve received conditional approval on our loan. Getting an appraisal done has been a little tricky with all the renters currently in the unit but hopefully we’ll get that soon as well~ I can SEE the finish line!!! Stay tuned of course!
@@falisharexford do you have a update?
@@arthurtayloriii8729 I do friend. Watch the update -> ruclips.net/video/D7pKfElwShc/видео.html
Question:
As some AirBnb rates are deflating, and the average rental drops to 200-250 a month, some AirBnb owners are experiencing that, what would be your projections then?
What about the management company’s percentage
Need some information about getting cooperate renting for Airbnb
Great video! Keep on Rockin with some Roll!
Rock on!
How long do u have to pay for the monthly dues?
We have to pay the dues Every month.
The monthly HOA covers most of our utilities + access to all the amenities…
This is a “condo-tel” so the amenities are very much like a hotel.
Whats the gross revenue split? Ur lying
Super helpful video. I am thinking of purchasing a condo hotel in Miami Beach. Would you recommend leasing your unit through an Airbnb management company or through the in-house hotel program? Many thanks :) Keep on posting, truly helpful vids.
What about air bnb fees, cleaning, and property managers?
That’s going to take ALL your money lol
LA LA Land !
NOPE! HARD PASS
This is so fake
Afraid not friend. Bought the property and the numbers are in 😁
If you're interested 👉 ruclips.net/video/D7pKfElwShc/видео.html