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Where can reliable stats/data be gleaned from concerning average bookings per unit in the entire US and also local markets? Does this data exist outside of the boardroom of Airbnb?
Five days after a mass shooting at an Airbnb in a small, wealthy community left five people dead, residents across California’s Bay Area are frustrated by the police response and the focus on Airbnb policies rather than the victims.
The five partygoers killed in the shooting at a Halloween party in the city of Orinda on Thursday evening were in their late teens and 20s, and had come to Orinda from other less-affluent Bay Area towns, including Oakland, Richmond, Vallejo, Pittsburg and Antioch. An Instagram advertisement for the “Airbnb Mansion Party” circulating on social media, made it clear that the party’s organizers, and many of the attendees, were black.
I think the death of AirBnB is that they are obligated to rent to people who will cause mayhem.
I think the death of AirBnB is that they are obligated to rent to people who will cause mayhem.
A younger friend, who used to work for the State of CA with a pension, quit his job at the age of 30, after he has built a 22 unit AirBnB biz. He did master leases with landlords like myself and other investor friends. We get 100% occupancy with 3% annual rent increase on 3-5 year leases.
Most of his AirBnB are travel nurses with occasional short term to fill the gap. He said he was netting $750-$800/unit after paying all costs. He has a couple VA’s help him run the biz. He’s been traveling the world since 30 till now. I asked him when he plans to settle down. He said likely never. 😅
The point is that most people are happy with a government job with a pension and would never let it go while this guy has been dreaming of traveling the world at the age of 30 and it became a reality for him.
AirBnB IPO price in December 2020 was $139.
Its stock price is now $125.
I see it gradually going the way of Yahoo, etc.
Maybe it will get bought out like Home Away did. Or perhaps the vacation and short term market is so saturated that it won't get bought out.
Booger says
News to me. I'm missing something?
I have heard of NINJA loans from some sources based on revenue.
Short Tandem Repeats? Microsatellites?
1337irr says
I have heard of NINJA loans from some sources based on revenue.
There are some creative loan products out there with no income, or no employment verification, but they require a big down payment with higher rates to compensate for the risk. There are also loan products that only require income revenues and bank statements, but the lenders will charge higher rates to compensate for the risk. NINJA loans are 100-105% financing to anyone with a pulse at market rates.
Interesting. I could get a $10,000,000 loan as long as I can prove the asset will generate a revenue stream high enough to cover the payments? With a NINJA loan?
Short Term Rentals
is the best memer on the internet.
Eman says
1337irr says
I have heard of NINJA loans from some sources based on revenue.
There are some creative loan products out there with no income, or no employment verification, but they require a big down payment with higher rates to compensate for the risk. There are also loan products that only require income revenues and bank statements, but the lenders will charge higher rates to compensate for the risk. NINJA loans are 100-105% financing to anyone with a pulse at market rates.
Interesting. I could get a $10,000,000 loan as long as I can prove the asset will generate a revenue stream high enough to cover the payments? With a NINJA loan?
I read, some years ago (I've been trying to find the story again) about a guy who was a boat mechanic. Eventually he figured out how to get shipping contracts then go to the bank for a loan based on the contract then buying a ship that needed refurbishment and then being able to fulfill the contract and pay the loan. He (I don't remember his name) became one of the wealthiest unknown people in the world at the time.
GNL says
Interesting. I could get a $10,000,000 loan as long as I can prove the asset will generate a revenue stream high enough to cover the payments? With a NINJA loan?
what happens as far as loan recourse in case you can't pay and default (i.e., walk away) ?
.
GNL says
Interesting. I could get a $10,000,000 loan as long as I can prove the asset will generate a revenue stream high enough to cover the payments? With a NINJA loan?
what happens as far as loan recourse in case you can't pay and default (i.e., walk away) ?
.
ad says
GNL says
Interesting. I could get a $10,000,000 loan as long as I can prove the asset will generate a revenue stream high enough to cover the payments? With a NINJA loan?
what happens as far as loan recourse in case you can't pay and default (i.e., walk away) ?
.
There are two types of loan, recourse and non-recourse. The rate on non-recourse loans tends to be slightly higher. If the loan is non-recourse. The borrower can give the keys to the lender and walk, or the lender has to foreclose. On recourse loan, the lender can sue the borrower to recover the losses. Whether the lender will sue the borrower is another matter.
That's one of the reasons I use VRBO. An older crowd that has longer stays...
just_passing_through says
That's one of the reasons I use VRBO. An older crowd that has longer stays...
If you use short term rentals than YOU are part of the problem with respect to high housing prices.
San Francisco AirBnB bookings tanking
BEEGE WELBORN
July 05, 2023
... San Francisco did this to San Francisco.
The Hilton downtown isn’t leaving because their bookings are full. They’re leaving because the crime is insane, and the real estate is too expensive in relation to plummeting value. Oddly enough, rental owners closest to downtown are also seeing a corresponding drop-off in bookings.
Go. Figure.
The depressed market for bookings is hitting their pricing leverage, too, and that really hurts when you use that extra cha-ching to pay your mortgage or taxes, and many in this story do. The market will dictate, though. When you’re desperate to put a body in a bed, you discount, and that’s what they’re doing across the board.
zzyzzx says
just_passing_through says
That's one of the reasons I use VRBO. An older crowd that has longer stays...
If you use short term rentals than YOU are part of the problem with respect to high housing prices.
Get a life! It's a short term vacation rental on the beach in Maui. It has been for the 50 years it's existed. It's zoned for this. It also isn't a house.
Yeah they're called vacation rentals for a reason. I grew up going to the Panhandle of FL once or twice a year at least. Everything on the beach was a rental. I wouldn't live there, I'd probably live inland a touch. I don't like not having neighbors and community. Certain areas are just made for vacation rentals. Hotels are fine, but having a full kitchen, potentially grill outdoors, it's somewhat like home. Vacation rentals ain't going away any time soon. The distress sales will just be picked up by other vacation rental owners.
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