6 Things to Consider When Buying Your First Airbnb Property!

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Buying your first Airbnb property can be daunting. It's one of the most important decisions you'll make as an up and coming super host. This video will help guide you based on the lessons I've learned over the last 4 years as an Airbnb super host.
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[@zackdreamcast]

Great points, just a few things to add. Make sure to consider the ongoing fixed costs; utilities, cable, internet, Cleaning, amenities, taxes, etc. Check with all the service providers to know the costs to understand the cash flow. Huge error I made was the lack of understanding on the ongoing costs,

[@jerryjenkins5739]

We have ALL heard.."Location, Location, Location" But has anyone EVER explained WHY you say it 3 times??? First "Location" is for STATE LAWS, every state has different State Laws as to how property is transferred, taxed, and regulated. Some states east of the Mississippi use Attorneys to represent each side while west of the Mississippi Title Companies act to close the transaction. Also state property tax varies greatly between states and this is another cost to factor in to the cost of owning a property. Next "Location" is for you city or metro area; think NY where "tenant rights" can cause a landlord to fight for 23 YEARS to evict a tenant for non-payment versus Nevada where you can evict in 15 days. Ever hear about a California Airbnb nightmare when the guest booked for 31 days and then fell under tenant regulations and it took the Host over 6 months to evict? Zoning is another factor that might be controlled by your county or city as well as long property taxes. The last "Location" is for the community that the property is in... is there an HOA? Are there rental restrictions? Is the property located on a busy street, backing a cemetery or a national park? ALL of these factors from the state level, to the county, to the community MUST be considered when buying ANY property for ANY purpose because it will effect the cost to purchase, the cost of ownership, the ability to use the property for the intended purpose.

[@josephkurosky3152]

You are a Great Communicator! Keep it coming!

[@leestrobridge7108]

Super fun watching this video from 2017 knowing where you are at today! Your "why" and the determination/persistence attached to the why are very clear to see now!

[@dustinsteward]

Thank you for this information, I appreciate the straight forward advice. I’ll be following along from now on!

[@NNENE]

so glad I stumbled on your channel. Very helpful

[@fighterflight2492]

Your content is great I think your channel will keep growing it’s exponential once you hit a stride but the first months are the hardest 👍

[@PinoyCavite]

Great video! Keep it going! Very helpful and informative!

[@cathygoutierrez6056]

Love your videos great info, thanks for sharing. Hope to see you here in New Orleans one day. Thanks Cathy

[@gonzocom]

SUPER helpful Richard thanks again!

[@imrichardfertig]

Thank you for watching as always Jesse

[@najaziz08]

Great advice. Thank you

[@user-mj6sl9qv8j]

Great stuff man, really authentic and valuable. Know your why! seconded. everything is so much easier and more fun if you just basically like doing something but wow - how many people do we meet (even very old people) who continue to (badly) do what they hate but stick with it just because they know it. More power to you and good luck

[@ivantejeda]

Hey @H 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@shahbazkhanjs]

Amazing video. Thank you

[@bdr420i]

Man your videos are amazingly beautiful and informative. I hope you Succeed in your future plan. Thank you so much

[@imrichardfertig]

Thank you Bader. You're too kind

[@LiveLetThrive]

You hit the nail on the head when referring to cities that Airbnb pays taxes to the city. That is actually the determining factor if I will buy an Airbnb property. There have been many cities that have shutdown STR’s but so far only one city has shut down Airbnb rentals where Airbnb pays the city taxes.

[@smartmoneycafe1057]

Excellent. Learning a ton

[@janisareeves5935]

Going to join the fb page now. 😊

[@mikeg3660]

Great info…inspired!

[@ivantejeda]

🔥 I’m with you on this Mike! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@thedrummersclub3667]

I really like your ideas. Thank you

[@ivantejeda]

🔥 I’m with you on this @The Drummers Club! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@deborahneary2185]

Very informative. Thank you.

[@imrichardfertig]

You're welcome Deborah!

[@BrightResultsMedia]

I love your videos. Thank you for posting!!!

[@imrichardfertig]

You're welcome Parke!

[@seanrkelley57]

I feel like I am late to the party, but THANK YOU for all this information!

[@KELBYL]

Only a week in , My first guests have asked to double their stay from 5 days to 10 days. They love it so much! Its like you have read my mind with this video. Having so much fun, we are thinking about buying a second home already. (something on the same lake as our home, but directly across the water with a dock we could paddle to) I think we will hit 99% occupancy in our first month. We will have an easy time making 3X what a long term tenant might pay. Prices are slightly low, because we are still waiting for those 5 star reviews to roll in. Ps, Our dogs love the first guests, and i think the guests want to keep them (thats why they doubled their stay) I signed up for Beyond Pricing, however, its not available in my area? Whats with that?

[@imrichardfertig]

Amazing! Where are you located?

[@KELBYL]

We are in Atlantic Canada. Just outside of Halifax NS. You have really helped inspire us! I can't thank you enough!

[@shahzeboy1609]

you still do this? any tips? how is everything?

[@dustinwilley9070]

Great videos! Thank you !

[@imrichardfertig]

Happy to help Dustin!

[@gonzocom]

YOU ARE AT 10K! Congrats!

[@CynicalDad81]

Jesse Gonzalez ....22k NOW!

[@irinab7524]

@@CynicalDad81 49K now

[@TheTravelingTogetherJournal]

Hi, liked and subbed. We feel ya on the slow channel growth. We have been driving from California to Panama. We thought we would find property in Panama we loved, but didn't. We are on our way back towards California now. We will look this winter into properties in Baja, but once again if we don't fall in love we might just try to find a "good Airbnb" area...if we can afford something in a "good Airbnb area". I found your channel as I'm going to try to learn more for the next few months.

[@imrichardfertig]

Welcome you two! What do you mean slow channel growth? Hope you learn a ton from our community! Join our FB Group.

[@TheTravelingTogetherJournal]

William Scott That all sounds like good ideas. I think this winter we fill focus on Baja. We really like the idea of no mortgage even if in the long run it equals less revenue.

[@dylome13]

I love your spirit. Thanks for sharing. I was thinking of getting property for my parents to make them move here. Truth... I don’t have any money or them, and this airbning thing is gonna help solve my problem to make them come here from Hawaii and rent out few rooms of the property and get mortgage from it. Thank you.

[@maryfreedom5]

Thank You for this amazing video. God bless You

[@ivantejeda]

🔥 I’m with you on this Mary! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@joeythecloser1]

Sir thank you so much for this video. Really helped. Thumbs up and i subbed. Btw....youd make a great neighbor

[@Kalpanasharma711]

Very useful n concise tips 👌👌

[@ivantejeda]

Hey Kalpana 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@nreyes935]

Thank you!!!!!🙌

[@indulgebespokeprivatechefs957]

Very informative video! Can you please make a video on how to approach landlords to permit me to use there place for short term rental? Thank you!!

[@kevinsmith-kevcorealtorins2039]

These are tricky but we have APPROVED STLU (Short Term Lodging Unit) ZONES in San Clemente California and surrounding towns.

[@indulgebespokeprivatechefs957]

Do you have any connections/realtors on the east coast who approves of STLU? Thank you!

[@deybrown970]

Thank you...

[@jenniferkannapel9450]

Do you use Nexus in Nevada? Thanks so much for all your youtube videos!

[@chuckball2279]

You have really good suggestions. Could you address house keeping services ? (Maybe you have, I have only recently subscribed)

[@romyenglish]

There is one smart tico. I like you bro.

[@jaylakhani5568]

Wow. Thank you

[@ivantejeda]

Hey Jay 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@LearnEnglishwithTrev]

Great thank you

[@michaelm9621]

Thanks

[@glenn7721]

What do I need to ask about a vacation condo before I buy it? Either our realtor or the owner.

[@orderpk]

Hello Richard, Very informational videos. What would be your opinion on hiring a property manager if I want someone to manage the property to deal with airbnb customers. I want to buy a property somewhere else where airbnb is used a lot but I cant be there physically all time. So I was wondering if there are people who can work like a property manager for airbnb.

[@travelingtimothy]

They just capped short term rentals in Breckenridge, CO, and STR's are on moratorium in the county, so room rates are going up in ski town USA. In this case, the law if horrible unless you already own here.

[@joshcassidy2092]

Yeah man. This channel is nice. Watched a bunch of videos. Good info. Nice structure. I'd light things up a bit man. And heighten the energy a bit. You'll appeal to a more broad people. I know theres preppy new generation kids that would call you 'boring'. People like that high energy ADHD level shit. I like you and your channel. I want you to be bigger so you keep making videos. Constructive criticism I guess? Anyway, it's working for you now so yeah. Good luck mate. Look forward to more.

[@loniklein135]

YOU ROCK!

[@imrichardfertig]

you rock as well Loni!

[@maxl7779]

Do you offer 1 on 1 coaching, if so I'd love to talk about it. Cheers

[@undeaddolphin6227]

I hope you got reached out to :)

[@felipecastellanos904]

Do you have any suggestions for the Miami market?

[@kaimaxfield6484]

Yep, rural or out of the way is very expensive and difficult to build/repair. We have experienced that and so have my neighbors.

[@imrichardfertig]

Same

[@pentrubarbati]

Hello one question how do you manage your property listing on multiple sites you know to not have a booking on same date from 2-3 sites like booking and airbnb Regards and thanks

[@tararitavaughn9002]

Hi, I have successfully set up and run my AIRBNB using this channel. Now I want to sell a compound of 3 houses that have 12 to 15 beds. What is the best strategy to market and sell this business? Thanks, Tararita

[@11ADavid]

Hey Richard, how many short term rental properties do you have for 2016 that made you over $500k?

[@1975mikestone]

I never by I sub lease my property. Best way yo do it with less hassle and more profit

[@vicfontaine5130]

What is your opinion on buying into a resort (not time share or fractional)

[@christinemcdonald2862]

we live in Ontario and are looking at secondary property in Penticton BC, wanting to set up as Airbnb for when we are not there...bad idea?

[@hmj8469]

Great video. Quick question wrt location - Does proximity to a beach offset a low(ish) walk score? If property A is a 2 minute walk to the beach, but is a 10-15 minute walk to shops and restaurants, and property B is the opposite, which do you prefer as a potential STR investment?

[@ivantejeda]

Hey @H and M Johnson 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@coreyoutlaw6981]

Thanks for the content, it's very helpful.

[@imrichardfertig]

You're welcome Corey

[@CelineAdobea]

and now you have 64.8 k subscribers 🙌🏾

[@ivantejeda]

Hey Celine 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@natespics8276]

Did you flat out buy your first place or come up with the down deposit and make it into a second mortgage?

[@morrisonmusic9861]

I'm in real estate school now do I necessarily need a real estate license ? Does it help to have one?

[@wholesalewideye2750]

What is your 2 to 3x frame work?

[@Ag-wu4mi]

I think your very reasonable. I appreciate that

[@ivantejeda]

Hey @Ag 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@Ag-wu4mi]

@@ivantejeda what are the tax advantages? Furniture depreciation etc? How do you hire out everything ( cleaning, stocking, trash recycling ) regarding turnover for next guests ? What additional coverage will be needed as far as homeowners insurance? Should it be an LLC?

[@georgefrank2003]

Great.

[@ivantejeda]

🔥 I’m with you on this George! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@sazisazi]

Thank u. I already put some of your tips in practice. I am thinking of expanding my portfolio, but I would want to work out an appropriate YIELD to aim for? Any comments?

[@ivantejeda]

Hey @sazisazi 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@exactmedia221]

Help and reply to my comment,can i talk to hotels and furnished apartments to get customers for them so i list their properties on airbnb and i add up the cost for a profit,so if someone books via bnb io book on the property website,can that workout. REPLY

[@pablomont-reynaud2538]

Your information is worth 100K Subs

[@imrichardfertig]

Hey maybe one day!

[@quemoiettoi]

Hello Richard. I would be very grateful for any response to this question… I have a three bedroom house worth of furnishings, good quality and in new condition, that I need to sell or rent. Would you have any suggestions or tips on how to rent or sell it together ? I have good photos, originally taken for an Airbnb, when in march 2020, I was ready to list when Covid hit. Thank you so much

[@ivantejeda]

Hey Steven 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@yolandap.3096]

Thank you for sharing this information! I'm now subscribed.

[@ivantejeda]

🔥 I’m with you on this Yolanda! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@Gierboo]

Keep up the videos! Love them all! Quick questions: Planning on buying a duplex in Orlando.10 miles away from Disney parks and downtown. I want to rent one part of the unit and Airbnb the other unit. What do you think about this strategy?

[@imrichardfertig]

It could work but your long term tenant needs to be the RIGHT person. You need to be 100% transparent with them and get them on board. Maybe even cut them in on a small portion of the deal by lowering the rent a bit. My question is, why do you want to rent half of it long term? Safety/security?

[@Gierboo]

STR University because I live in Miami and sometimes I would like to go stay some weekends in Orlando and have it as a get away mini vacation. Another thing is because I feel like I could make more money doing Airbnb than renting it out because of the tourist location. What do u think?

[@fighterflight2492]

Joel Gierbolini I think what he was asking is why not just Airbnb both sides?

[@jerryjerryj4501]

Mixing long term ans short term rental can be perplexing because the occupants tend to have different goals. Short term renters want to have a good time and can be loud. They need to feel secure in the short term and don't really care how they affect neighbors because they'll be gone in a week. Long term occupants typically desire longer term security and quiet where they are familiar with neighbors and feel a sense of control over their surroundings. I have lived in and held property that was mixed. You could spend significant time dealing with conflicts if you decide to mix long and short term rental.

[@olusholasoyoye2089]

Hello, can I speak to you privately on this? I am international student looking to invest in the airbnb market

[@gamingroyalchinese902]

Would I be looking up the laws for the state I’m living in or the state I’m going to

[@fighterflight2492]

GamingRoyalChinese the laws where your Airbnb would be

[@jeffreymills344]

When you say occupancy 60 to 80 percent do you expect 219 to 292 nights a year? Or 60 to 80 percent in your seasons? We only rent out in the summer months at 29 nights per month and then 15 nights three months before and two months in the fall for a total of 182 nights per year

[@ivantejeda]

Hey Jeffrey 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@veneno276]

I tried to post a house in Cancun Quintana Roo México THEY DON'T even let me finish to post it, the cancel my account, a guy named Reo decided it, who knows why, then I escalated then a guy Leon ask me for a lot of stuff and still lock,then now no one answered my emails and when I call they don't know anything, Airbnb is a very scary company to work with. They just decided to accuse me of something but they don't know.

[@ivantejeda]

💡Thanks for sharing Eduardo! Maybe I should make a video on this 🤔

[@veneno276]

@Ivan Tejeda airbnb the worst nightmare, I'm canceling my account with them,

[@ivantejeda]

@@veneno276 dang

[@veneno276]

@Ivan Tejeda I have 1 in cancun and 2 in tulum Quinta Roo, but airbnb is been really bad for me, problems with guests, showing proof that the guests did , or destroyed or something, airbnb always helped the guests to no pay.

[@dsanti4069]

Do you operate your Airbnbs remotely now by the use of management companies?

[@imrichardfertig]

HanchoPOW no. Too expensive. I create my team locally. I’ve filmed videos about this!

[@realsunjim]

Hello Str university, is it wiser to buy a luxury home first or a normal house at around 250k? I want to start the airbnb business with my sister. We are not sure whats the better route to start off

[@jerryjerryj4501]

Heed caution when entering a business partnership with family. Most partnerships eventually fall apart for various reasons that can be a simple as being at different places in your investment career to as complex as differences with respect to opinions, personal relationships or differences regarding the division of power and responsibility in the partnership. In the end you have to choose between a relationship with your sibling and your investment.

[@wtram]

Could you help me get my first property subleased? I don't have the funds or credit to purchase my first property and therefore need to find an owner who would work with me.

[@huhuahuu1019]

Wesley Trammel u crazy

[@diegosequerap.6778]

Hey @STR University. Do i have to own my property to do this?

[@diegosequerap.6778]

to do AIRBNB

[@phoenixwiseman4018]

I love you

[@organicmansion701]

💯💯

[@kaytay7122]

The company also owns a portfolio of other rental sites, including VRBO.com and VacationRental.com in the U.S., as well as similar sites in the UK, Germany, France, Spain, Brazil, Australia and New Zealand. It also operates BedandBreakfast.com. Today’s announcement puts Expedia, which owns sites like Hotels.com, Hotwire.com, Travelocity, Orbitz and Venera, in direct competition with Airbnb.

[@jodylowe8476]

I think I am cut out for Airbnb. Seems most of my thinking and assumptions are backed up by what is said on this channel. or I'm clueless and don't know it.

[@ivantejeda]

Hey Jody 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@kaytay7122]

Expedia Inc. today announced that it has agreed to acquire the publicly traded vacation rental service HomeAway and its brands (including VRBO.com) for $3.9 billion in cash and Expedia common stock. The Austin, Texas-based HomeAway was founded back in 2005. The company raised a total of almost $505 million in five funding rounds before it went public in 2011.

[@kaytay7122]

Expedia will buy each outstanding HomeAway share of common stock for $10.15 in cash and 0.2065 of a share of Expedia common stock. The transaction will likely close in the first quarter of 2016. HomeAway says it currently features more than a million paid vacation rental home listings in 190 countries on its site.

[@kaytay7122]

This is from another host ***Extenuating Circumstances, Unreasonable refunds! Airbnb just continues to take our money!*** I totally agree and have doubled my prices on AIRBNB compared to what I have them listed for with VRBO and VRBO only charges a flat rate of $499 for a year. I think AIRBNB promotes scamming.

[@kaytay7122]

VRBO has a much more personal touch as a host speaking.

[@kaytay7122]

Oops sorry I had that backwards I still like VRBO much better due to being treated better.

[@kaytay7122]

Also I strongly believe Airbnb attracts the scammers.

[@kaytay7122]

Given Airbnb’s rapid growth, Expedia probably looked at building its own competing service but decided to use its war chest to acquire HomeAway instead. “We have long had our eyes on the fast growing ~$100 billion alternative accommodations space and have been building on our partnership with HomeAway, a global leader in vacation rentals, for two years,” said Dara Khosrowshahi, the CEO of Expedia in today’s announcement.

[@kaytay7122]

Yes I own a 4000 square foot house and I have had people walk off with stuff like a boom box, towels. I have even had people charge a cover charge and AIRBNB said unless I lawyered up they really didn't see how it effected them. AIRBNB IS HORRIBLE TO HOST FOR. I use VRBO and am treated much better. AIRBNB gets a lot of booking. Personally I hate working with them. They like I say they treat there host like Walmart treats their competitors. VRBO has a much more personal touch as a host speaking.

[@kaytay7122]

Airbnb I feel are a bunch of bullies this is what another host writes see below.

[@GlennGoryl]

Thank you. (FYI - Using words like "scary" make you sound: 1. Unprofessional. 2. Like you are talking to children.).

[@ivantejeda]

Hey Glenn 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.