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Airbnb the Clear Choice for Relocating to Indianapolis (or anywhere)

Airbnb the Clear Choice for Relocating to Indianapolis (or anywhere)

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Airbnb the Clear Choice for Relocating to Indianapolis (or anywhere) By Rachel Prince and Lexa Foy What do you do when your home sold within a week of being listed and you're relocating to a new city? Or what about when your new position is hundreds of miles away and starts next week? These scenarios often lead people into making hasty decisions that leave them unsettled and unhappy. So what's the solution? Temporary housing options can be hard to find, especially when moving with children. Hotels tend to be pricier per night with no negotiable rates and comes with the hassle of eating out daily. Extended stay hotels could be a potential option if you are able to accommodate with the hustle and bustle of the traffic throughout the halls,…
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Should Your Airbnb have Single Beds or Queen Beds?!

Should Your Airbnb have Single Beds or Queen Beds?!

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Guest Post by Mike: Are 2 Single Beds or Queen Bed Better for Your Airbnb Rooms?  In the Airbnb business, the ratings and reviews you get will build your reputation. That’s why it’s essential to offer a well-deserved comfort to your guests, even if that means making a few long-term investments. One of the details I care about most when it comes to my Airbnb business is the sound sleep of the travelers I host. A bad night’s sleep will go straight in the reviews, for sure! So I firmly believe that providing the best possible beds for the exhausted visitors is critical. Even if the room you give for rental is small, you can still make it look cozy and fit a comfortable bed in it. I often hear…
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Top Five Reasons to use Professional Short Term Rental Property Management

Top Five Reasons to use Professional Short Term Rental Property Management

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The financial benefit has become clear to some investors that short-term rental (STR) properties can offer a more lucrative real estate approach then long-term renting to tenants. But STR's are not for every investor! In fact, getting your first property purchased, updated, staged and listed to welcome your first guest can usurp a lot of valuable time and has many possible obstacles. This certainly is not a passive business model either. Instead, running an Airbnb rental requires daily availability for check-ins and communication with guests for inquiries and bookings, being consistently "on alert" for emergencies and damage control, as well as routine weekly visits for trash day and re-stocking. So, before considering purchasing or converting a home unit into a fabulous short-term property, one should strongly consider hiring a specialty property management team. To help you alleviate…
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Top 10 Airbnb Pricing Tips for Major Events (like Indy 500)

Top 10 Airbnb Pricing Tips for Major Events (like Indy 500)

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When can you make top dollar renting your home on Airbnb? Certainly, it's when you live near a venue that can hold 400,000 people, like the Indianapolis Motor Speedway venue with one of the largest seating capacities in the world. Every Memorial day weekend for the last 100 years, motorsports fans have flocked to Indianapolis to attend the Indy 500 top American Championship motor races at the Motor Speedway. People camp and bring their RVs for weeks at a time. Hotels and motels get booked up months in advance. With 175% more people than average looking for a place to crash this one weekend, this still leaves a huge housing shortage. Fortunately, Airbnb and other short-term renting / homes-sharing platforms have picked the slack. For homeowners that live in a less desirable area for most…
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3 Airbnb Essentials for Home Owners in Indianapolis [or anywhere]

3 Airbnb Essentials for Home Owners in Indianapolis [or anywhere]

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By Lexa Foy During a month-long trip to Colombia, South America, I had my first run-in with an Airbnb. All the hotels in the area were booked so our only option was to set up our profile and dive in. I was one of those people who scoffed at staying in someone else’s home, especially with the host there. It seemed awkard and unfamiliar. Despite my initial thoughts, I quickly started to see that my trip to Colombia would not nearly have been as enjoyable without our Airbnb stays.  Not only did we get an inside look at the culture, the hosts were super gracious and helpful in giving us the local's input which enhanced our stay two-fold. After returning from Colombia, I became slightly obsessed with Airbnb and wanted to learn more about this…
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Airbnb Short-Term Rentals Booming in Indianapolis

Airbnb Short-Term Rentals Booming in Indianapolis

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You could say we are going through a sort of mini short-term rental boom here in Indy. [caption id="attachment_1348" align="alignleft" width="392"] Indianapolis Real Estate Broker, Rachel Prince[/caption] Recent Indianapolis Airbnb successes are not a huge surprise to me, however, since Indy has been flagged as one of the top 10 national emerging cities by Forbes and among real estate investors like, Than Merrill and Fortune Builders. In 2017 we saw SalesForce opened up their headquarters in downtown Indianapolis, only one of many tech and pharma industries that continue to help boost jobs and business travel here. Not to mention, Indianapolis has a unique cultural presence and strong support for local events, such as First Friday, Canal concerts and neighborhood street fairs. We are seeing a jammed packed downtown convention center with an influx of…
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Top 10 Vacation Rental Blogs

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REPOST from VAYOO.COM http://www.vayoo.com/blog/top-ten-vacation-rental-blogs One of the big mistakes that vacation rental managers and owners make is to stay in their own bubble. Fortunately, it doesn't have to take much to stay informed. In fact, it just takes a few blog subscriptions. We've compiled the "Top 10 Vacation Rental Blogs " for you. 1. Get Paid For Your Pad – Jasper Ribbers Get Paid For Your Pad by Jasper Ribbers is one of the top vacation rental blogs where you can easily learn how to become an Airbnb Hosting Master in order to improve your guest experience and increase your income. All you have to do is to take the Airbnb listing test and discover the flaws in your listing. Looking for the best and reliable vacation blog? www.getpaidforyourpad.com is highly recommended!…
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Rachel’s Interview from Start-Up Property

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REPOST FROM: https://www.startupproperty.co/blog/real-estate-disruptors-rentalpreneur REAL ESTATE DISRUPTORS: Rentalpreneur A disruptive real estate investor creatively disrupting the AirBnb scene        Rachel Prince is the Rentalpreneur, and she tells her story of how she went from bedridden and broke to cash-flowing with no rent using AirBnB. This week on the blog we talk to Rachel Prince, a Real Estate broker and Rentalpreneur. Using the Air Bnb model, Rachel helps people solve their short-term rental problems. Let's get to know her a bit more, shall we?First and Foremost, please introduce yourself: Hi, my name is Rachel Prince, owner and creator of Rentalpreneur When did you start investing in real estate? October 2005 How big is your team? Or are you a one-man band? 1-girl show What part of town do you invest in?…
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The Best Beds for Airbnb’s

The Best Beds for Airbnb’s

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Wow! I'm really loving this LUCID bed and my guests do too! I am getting killer reviews just on this bed!!! (I include a screen shot of some of my reviews). I had heard of beds like this...arriving right at your doorstep in a box from Amazon and then POOF they expand into a life size bed! Then I slept on one in Airbnb home for a month. I was sold! So, I ordered one for myself! There are several thicknesses. They have a 10", 12" and I believe a 14". I have the 12". This is a cool blend of memory foam + natural latex mattress built from different layers. Top layer (comfort + cooling) – this is a 1″ Bamboo Charcoal memory foam layer and a 2nd Layer (support) – this a 3″ memory…
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10 Steps to Buying a Home with Low Income

10 Steps to Buying a Home with Low Income

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Someone once asked me, can I buy a home if I only make $30,000/yr? The answer is YES YOU CAN! Heck, you could probably get a home loan if the home was only a few grand and you were earning only a few grand per year in income. The reality is that its not just ONE thing that will help you get a loan and buy a house. In fact you need to to have several things in alignment (like your credit, your taxes and your income and some savings). Also, most low income home loans are government insured through FHA (Federal Housing Administration) so if you follow FHA requirements, your lender can give you a better deal (such as low down payments, low closing costs and easy credit qualifying). The U.S.…
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How to Go from Renter to Homeowner Using Airbnb

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People who are "renters" are typically the ones who say to me, "Rachel, why would I want to buy a house?" At first I was completely bewildered at this statement thinking "how are they NOT already investing in real estate, instead they're wasting money renting!"  But then I remembered that I used to share this mindset too!   I had rented for much of my life but purchased a fancy condo in the heart of Denver in 2008, that I would sell only 2 years later. Part of the reason I sold was because I quit my job and started my own company. I quickly wondered how keeping this asset with my new ambitious self-employed status and income was going to benefit me. How was I going to afford mortgage payments with my fancy…
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Airbnb & Vacation Rentals Make A Poor Passive Income Model

Airbnb & Vacation Rentals Make A Poor Passive Income Model

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Let's face it! There is no get rich fast scheme within the Airbnb world. [caption id="attachment_1167" align="alignright" width="334"] Vacation Rental Property[/caption] Just the time it takes to find, buy and close on a real estate property takes enough time. But when we factor in the time it takes to set, up, run and manage a vacation & short-term rental, we must question whether or not it can truly ever become a passive income model. In my opinion, the answer is not really. Its probably why some of the big wig management companies are getting out of the biz and closing their doors to the properties whose numbers just don't make sense financially when all is said and done. When all is said and done, means that all expenses are taken…
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6 Secrets to Airbnb Mastery for Your Real Estate Property

6 Secrets to Airbnb Mastery for Your Real Estate Property

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GET INTO THE MINDSET: You'll need to start thinking and acting like a successful and profitable Rentalpreneur. As in any success story...success takes time to build and nurture... and when we are talking about building a real estate empire or saving one for that matter, the one thing we do know for sure, is that real estate takes time. So, for most of us, we will need to project out a little bit more time to achieve our goals. That doesn't mean we cannot see the fruits of our labor coming back at us quickly. It just means to say that we can be realistic about the pace of reality. Movies give us a distorted sped up version of reality. In real life, things take a slower pace until we gain momentum. CONNECT…
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5 Mistakes That Landlords Make Converting Rentals to Airbnb

5 Mistakes That Landlords Make Converting Rentals to Airbnb

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[caption id="attachment_1341" align="alignright" width="281"] Indianapolis Real Estate Broker, Rachel Prince[/caption] More often then none, I get the call that a client wants to convert their property into an Airbnb home. I first have to ask them what their motives are. After all, Airbnb is not a passive income industry and relies heavily on quality & responsive customer service and hospitality. Many of these are landlords are renting out the rooms by the week or month. They usually own a slew of properties and some of the homes have even gone into disarray. The conversion process from landlord to short-term rental host can be quite tricky and not what one is accustomed to. So, if you are a seasoned investor looking to convert a few of your rental properties or deciding…
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Making Money with Airbnb Investment Homes

Making Money with Airbnb Investment Homes

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  [caption id="attachment_1343" align="alignright" width="300"] Indianapolis Real Estate Broker, Rachel Prince[/caption] Airbnb is a killer investment strategy for some of you out there. It can really beef up some of those under-performing real estate assets. Whether you are a seasoned investor looking to convert a few centrally located rental properties, or you own a 2nd home that may never see returns, Airbnb is a great solution for many. The earning power of an Airbnb home is incredible and can likely offset the entire amount of your mortgage, not just for a month or two, but for an entire year and then some! Here are the 3 most common ways my clients see bigger ROI's on their investment properties: 1. ROOM RENTALS: Many landlords that I come across are sick and…
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Travel Free on Airbnb! [Traveling is Healthy]

Travel Free on Airbnb! [Traveling is Healthy]

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Airbnb guests are a great excuse to go take a free vacay!!! Last week I booked some Airbnb guests at the Indy Zen Den and used the time to go visit some friends in Chicago. I hadn't been back to Chi-town in years! It's only a 3 hour drive from Indianapolis so I figured, why not?! Along the way, I just had to soak up a piece of history, so I stopped in Lafayette, IN where the original Purdue University-Hoosiers come from.  Cute houses and spring flowers lined the streets, along with the cutest main street and state capitol. I booked an incredible Airbnb apartment in the heart of Chicago's Gold Coast with some referral credit that I had from Airbnb. (learn what this is) I went restaurant hopping in the…
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