How Much Does it Cost to Buy an Airbnb? (Our Exact Numbers Revealed)
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- Опубликовано: 20 сен 2024
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Airbnb has become one of the most popular ways to rent out a space. It's also one of the most affordable. If you've ever wondered how much you need to invest in a short-term rental, then we've got you covered.
In this video, we will go over how much out of pocket expenses we had to make to buy one of our properties.
We break down all the numbers, from closing costs to how much it took to setup the Airbnb.
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Free Short Term Rental Analyzing Tool - alphageekcapita...
Download our Airbnb Startup checklist: alphageekcapit...
Partner with us on a Short Term Rental: alphageekcapit...
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Connect with us on social media!
Tony's Instagram: / tonyjrobinson
Sara's Instagram: / saraaraad
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Not one to usually comment on youtube videos, but I have to give shoutout for that free checklist. Super thorough and helpful - thanks for the transparency and the abundance mindset!
So glad you got some value from the checklist!
Love the editing! Whoever's doing that deserves a raise!
Awesome content too! Thanks
Great content as usual!! Can ya'll do a video on how to furnish your Airbnb? Specifically, speaking to the price of the furniture, the aesthetics of the furniture (theme or no theme), the durability of the furniture, the cleanability of the furniture, the replaceability of the furniture, and the functionality of the furniture. Thanks. Keep killing the game!!
Do your own research lmao lmao lazy ass boy.
Excited about this. So far y’all are the only ones I’m seeing really promote the buying(not arb) of airbnbs/str. My wife and I have one which we bought for us but can’t move until summer 2022. It has been successful beyond our imagination and we spend 2-3 days a week there on ‘vacation’ ourselves.
Exciting!! Congratulations!!
I thought your video was very clear and concise. I was a Real Estate Broker in TN before I left the country. I owned a Real Estate company at one time. I travel around the world full time now. I am hoping to start an airbnb company. I am also a RUclipsr about travel. Good luck to you guys! I love your concept.
Thank you Robinson. I love how you make every thing easier to understand. I also appreciate when you break down the cost for us to see.
That was super helpful and insightful. The tip about a vacation home mortgage is invaluable. Never considered trying for a loan on that basis.
Hey guys! Great content and much appreciated! Would you consider doing a vid in the same transparent style concerning the yearly costs of ($39k) running the project? Keep it up!
This was great. Thank you for being so transparent about your numbers.
I almost feel like I stole something after downloading you checklist, my jaw dropped, its so helpful and detailed
Er
Great video, and the cherry on top was the clip from "The Life of Brian" 🤣
Awesome video and amazing information! As an Airbnb host - you are spot on!!! 🎵Sweet Tang haus and the Robinson’s ain’t nothing to mess with! (Someone had to do it)
😂 glad you enjoyed it!
Love the openness!
Thanks for the content! It was transparent and easy to understand!
Glad it was helpful!
Also these videos have been very helpful! Keep it up team
Really thorough great information. Thank you!
Thanks for all the tips guys! Could you do a video on the STR permit process in Joshua Tree or the Palm Springs area? Was it pretty quick?
Thank you for this. 💟
Thank you for watching!
Thanks Tony!
I love your guys videos and energy! Can you guys make a video on a process how to get a permit to have a Airbnb. I recently started my Airbnb out in joshuatree with a rental but didn’t know i needed to a permit. I dont know where to start. There is a lot of video to do Airbnb but not on how to get a permits and what is needed to get one.
Good idea! It varies by the county and city but for JT you just apply through the San Bernardino county! Takes about 2 weeks to get your permit after applying!
Great video, how long did it take to receive your STR permit from SB county?
What about cases of uncontrolled circumstances like Pandemic or natural disaster etc?
I feel like all of this promotion of using a second home mortgage to close on STR is misleading. I just closed on a second home for the intent of using it as an STR and was surprised to have a “second home rider” attached to my loan closing documents. Everything up until that point had indicated that it was nbd and you just need to use the home for 14 days. There was no mention of 14 day use requirement on the second home rider. This was a conventional loan with Ally Bank. At that point, what are you supposed to do? You’ve already waited a month + or - for the deal to close. Just walk away? We hesitantly closed anyway, but I’m wondering where everyone has come up with this strategy is getting it from? It clearly appears to be loan fraud.
What is a second home rider? Also I'm wondering how.theu got more than one second home mortgage? I thought you could only have one.
No loan officer is going to drive by your house or ask for a record of your visits. It’s just paperwork. Talk to all the professionals and they’ll give you 90 minutes of jargon and beat around the bush to say exactly what I just said. But if you are someone who is compelled to follow all rules and get nervous about this sort of thing, then don’t close on the home. Given when you made your comment, I’m curious to know what you decided to do.
61% cash-on-cash is nuts!
Can you do a video on how to get landlord let you do airbnb
Just start watching your content it's awesome! Would you mind sharing your handy man out in joshua tree?
Q: can you get the second home mortgage as a business (LLC) or do you have to do it as an individual and account for the costs somehow through your short term rental business?
It cannot be in the name of an LLC, it has to be under your personal name. And check with your CPA for the book keeping side of things!
I was just getting on here to ask this very question
You're personally liable for the second mortgage, however, you can take that money and invest it in a property. Then, you can contribute that property into an LLC.
@@69sedanman arent there sometimes an issue with transferring it into an llc? Can they call the loan due?
@@ukjw2 yes, this can be true if you're going as a straight rental property within the first 12 months of the loan. I believe this is called occupancy fraud. Additionally, because the nature of short term rentals is that, you have access to your own home at any point if you choose not to rent it out. Then it is truly a second home. The LLC component is solely to mitigate liability and doesn't affect the 2nd home mortgage that you are still liable for. Hope that helps. :)
Great video! What realtor do you recommend in Joshua Tree that really knows about short term rentals ?
We use JT Modern, but they don’t specialize in STR
Do y’all transfer these homes to an llc after purchase? Or keep them in your name? Do you feel safe as far as lawsuits on assets goes?
Can you rent your primary residence and still use the second home loan with 10% down?
Link to download the checklist no longer works :(
Did you say the house was 400 sqft????
391 😄
How do you spend 39000$????
This may be a dumb question but do you have to live in your first house to get a second home mortgage? I own a home but don't plan to live there for that long.
Nope..... u can take out all but 20% of the loan meaning if u have 100k in equity, u can take out 80k
@@mram7715 let me clarify I will keep the home just want to rent the whole house out soon. It's a duplex.
@@natec6038 no u do not have to live on the property. U could finance I believe up to ten homes at one time. U could pull a second out on any one of them as long as u have the equity. Hope this helps
Is there any change for mortgage fraud if your using 2nd home loan to run a business. Any wait time before you list? I feel like this could be quite risky from getting other loans if your intent is Airbnb
Go out and talk to several loan officers, they'll be the best ones to give you advice on this topic!
10% downpayment? How??
Oh - shouldve waited to comment this lol
You don't buy an airbnb. You buy a short term rental.
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