Airbnb to Just 5 People per Year

Posted on August 2, 2022August 4, 2022 by Bobby Curtis

In 2010 I did a short-term work assignment in Switzerland with the company I was working for at the time. I lived and worked there for about five months. For someone like myself who loves to travel, it was ideal. I temporarily left Indianapolis, where I lived at the time, packed a few bags, and rented a fully furnished flat in a walkable area of Geneva. I was walkable to downtown, Lake Geneva, and the train station where I took a short train to work.

The furnished apartment was a little like corporate housing. Inside it was fairly basic. They provided all of the essentials, but nothing stood out as exceptional about the place itself. Today, corporate housing looks different, and has expanded to more people. They are better known as midterm rentals, and have platforms like Airbnb, VRBO, and Furnished Finder. Because of that it’s easier for home owners to rent their own properties out for a month or longer. Plus, these places tend to have much more style and character. These property owners are enchanting their guests to come stay at their place for a few months with their Pinterest-quality posts.

More People Working From Home

With the pandemic, came many people working from home for the first time ever. For some that meant all-day zoom meetings, kids and dogs hijacking calls, and not enough in person socialization. Some were eager to get back to the office. While others thrived with the work flexibility and getting more accomplished in their own working environment, wherever that happened to be. As most of us realize now, many have been called back to the office, but just how many haven’t been?

Mckinsey and Company, one of the largest global management consulting firms, published a study in June 2022 based on a survey of 25,000 Americans in the Spring 2022. Respondents worked in all kinds of jobs, in every part of the country and sector of the economy, including traditionally labeled “blue collar” jobs that might be expected to demand on-site labor as well as “white collar” professions, and found that 35% of job holders could work from home fulltime. You can read the full article here.

Flexible Work Life – Work From Anywhere

With that new found knowledge, several people are moving or moving temporarily, and staying in a midterm rental. A friend of mine working for Nike moved to Mexico just for fun when she found out she didn’t have to return to the corporate office in Beaverton. I had clients from Durango, CO, this year who work for Tesla, who were able to move parttime to Portland, close to their daughter and new grandchild because of their new work flexibility. Interestingly, I met these clients because they found my own midterm rental online last summer, and rented it for a couple of months while they were exploring Portland.

The Midterm Rental Benefit to the Homeowner

In 2020 I decided to renovate side by side townhouses, furnish them, and rent them out for month or longer stays. Since that time, it has been rented about 95% of the time it’s been available. There are many advantages to midterm rentals. Less turn over, and fewer guests to coordinate is one of the biggest ones. But, it can also be available for personal or friend/family use, and there are some good tax advantages that you can talk with your accountant about.

That first year, I had just 5 guests ranging from one to five months, and was able to block out time for personal use if I wanted. Providing a place in a great area of NE Portland, the Alberta Arts area, these townhouses have attracted not just people who can work from home or another location; but those moving to Portland who need short term housing while they look for something permanent, locals renovating their current home, even students who are able to study remotely and traveling healthcare professionals.

As an investor, myself, I stay on top of what is happening in real estate. From house flipping to long term rentals, to short and now midterm rentals. In my opinion, this newer type of investment strategy is in the beginning stages of taking off.

To see more on the side by side townhouses I remodeled, and now rent as midterm rentals, check it out here.

WHERE TO GO TO GET OUT OF TOWN?

Posted on June 30, 2020June 30, 2020 by Aryne + Dulcinea

WHERE TO GO TO GET OUT OF TOWN?

Travel is different. Okay…lots of things are different, but what doesn’t change is our desire to get out of town. It clears the mind, gives us new perspective, and connects us with new places and people. In this time of Covid-19, we are shifting the way we travel. Take a look at this article by Airbnb co-founder Brian Chesky, “Travel as we know it is over.” Let us know where you’re off to! We’d love to hear about and see photos from your adventures.

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

TRUSTING THE MAGIC!

Posted on February 1, 2020February 11, 2020 by Living Room Realty

Congratulations to my client on the sale of his sweet condo up in the SW Hills! We met last summer after I sold another unit in the complex, and given that there was a hefty special assessment in the works (which makes selling condos a little trickier than normal), he was impressed to see a successful sale go through. I could feel his trust from the get-go and the foundation for an excellent client-agent relationship was made.

We listed the condo in the summer but due to the slowing condo market, showings were sparse and eventually decided to pull it off the market and wait until the following Spring.

But in the meantime, Fall came around and with the shifting market, new energy for selling. We did a small price adjustment, updated the marketing and went back on the market just days before Thanksgiving. In just over two weeks my client’s condo was pending with three offers, all over asking! Just goes to show, really ANY time of year is a good time to sell — not just spring and summer. AND when the time is right, it’s RIGHT (even if it may not logically make sense.)

In that time just before Thanksgiving, I also found myself with a deep intuition to plan a long awaited trip (10 years in the making) to visit India for the first time in January 2020. I was very hesitant at first, as leaving the country with business in the works can be a little scary, but with the help of my fantastic colleague, Scott Shoji, I was able to turn over the transaction to him and prepare to leave knowing my client would be in great hands. While there was an exciting Christmas Eve “bump” in the road (Buyer #1 decided to back out with some first time homebuyer jitters), Buyer #2 was thrilled and we got the second round of transaction-action underway! On December 31st, as I began my journey towards India, I turned over my condo business to Scott and took a leap of faith knowing that everything was exactly as it should be — lots of trust that the path which had presented itself to me was the way I was meant to follow. While my logical brain was just a bit nervous, my heart knew everything was going to be just fine.

And in my absence, all was smooth sailing. No more bumps in the road, inpsections, appraisal and funding all came through with ease, and here we are, closing January 31st! Huge congrats to my seller on his new adventures taking him to home ownership in a new state. Thank you for your trust, optimism and excellent communication throughout the whole process ~ thank you to Scott for holding it down and being so easy and great to work with ~ and thank you to myself for listening and trusting the inner guidance that suggests seemingly crazy ideas, but are really part of the medicine and joy in this wild journey of LIFE!