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FF108 From Studios to 3 Bed Homes: Allen Duan’s Path To 26 Managed & Arbitrage Properties
Manage episode 433829953 series 3390156
Welcome to The Landlord Diaries! In this episode, we sit down with Allen Duan, a mid-term rental powerhouse with a portfolio of over 26 managed and arbitrage properties in Southern California. Allen shares his incredible journey from short-term rentals (STR) to mid-term rentals (MTR), a strategic pivot driven by local restrictions and market opportunities.
Allen's success story is a masterclass in leveraging platforms like Furnished Finder to host thousands of guests and generate substantial booking volumes, ranging from $2k/month for studios to $10k/month for three-bedroom homes. He provides a detailed walkthrough of his process, including the importance of networking, building a strong team, navigating real estate laws, and the nuances of rental management, arbitrage, and co-hosting.
In this episode, we cover:
0:00 Welcome to The Landlord Diaries
2:45 Allen started in STR but shifted to MTR due to local restrictions
3:30 What led Allen to real estate & specifically the arbitrage & management model?
5:10 The Hospy Homes Team & portfolio
6:00 Allen’s perspective on rental management, arbitrage & co-hosting
7:35 Did state & local laws require Allen to obtain a broker’s license?
9:30 Evaluating your portfolio in the growth stage
10:30 Hospy Homes total booking volume was around $700k in 2023
11:40 Allen’s perspective on short term vs. mid term rentals
14:55 Allen’s success with around 20 listings on Furnished Finder
16:15 About 40-50% of Hospy Homes MTR bookings come from Furnished Finder
17:40 Hospy Homes experience with studio to 3 bedroom homes
19:25 What Furnished Finder has learned about tenant communication
23:35 Hospy Homes takes a damage waiver of $150 rather than a deposit
29:50 How Allen scaled to 26 managed & arbitrage mid-term rentals in 5 years
31:10 Tips for partnering with arbitrage & management property owners
36:20 Allen’s complimentary mid-term rental analysis for his potential clients
38:20 Furnished Finder’s mid-term rental stats tool
39:00 Details to include in your management & arbitrage contracts
40:15 How Hospy Homes keeps their property owners informed
41:15 Building your team & standard operating procedures
42:45 Helping your team thrive & find value in their position
44:15 Networking is a huge part in expanding your mid-term rental business
48:45 How to connect with Allen, Founder of Hospy Homes
Website Links:
https://www.furnishedfinder.com/
https://www.furnishedfinder.com/stats
https://www.facebook.com/groups/furnishedfinder.travelnursehousing/
Connect with Allen, Founder of Hospy Homes:
https://www.furnishedfinder.com/members/profile?u=allen.duan
@allenduan120
E-Myth Book
Text the hosts with questions or comments.
The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.
122 episodi
Manage episode 433829953 series 3390156
Welcome to The Landlord Diaries! In this episode, we sit down with Allen Duan, a mid-term rental powerhouse with a portfolio of over 26 managed and arbitrage properties in Southern California. Allen shares his incredible journey from short-term rentals (STR) to mid-term rentals (MTR), a strategic pivot driven by local restrictions and market opportunities.
Allen's success story is a masterclass in leveraging platforms like Furnished Finder to host thousands of guests and generate substantial booking volumes, ranging from $2k/month for studios to $10k/month for three-bedroom homes. He provides a detailed walkthrough of his process, including the importance of networking, building a strong team, navigating real estate laws, and the nuances of rental management, arbitrage, and co-hosting.
In this episode, we cover:
0:00 Welcome to The Landlord Diaries
2:45 Allen started in STR but shifted to MTR due to local restrictions
3:30 What led Allen to real estate & specifically the arbitrage & management model?
5:10 The Hospy Homes Team & portfolio
6:00 Allen’s perspective on rental management, arbitrage & co-hosting
7:35 Did state & local laws require Allen to obtain a broker’s license?
9:30 Evaluating your portfolio in the growth stage
10:30 Hospy Homes total booking volume was around $700k in 2023
11:40 Allen’s perspective on short term vs. mid term rentals
14:55 Allen’s success with around 20 listings on Furnished Finder
16:15 About 40-50% of Hospy Homes MTR bookings come from Furnished Finder
17:40 Hospy Homes experience with studio to 3 bedroom homes
19:25 What Furnished Finder has learned about tenant communication
23:35 Hospy Homes takes a damage waiver of $150 rather than a deposit
29:50 How Allen scaled to 26 managed & arbitrage mid-term rentals in 5 years
31:10 Tips for partnering with arbitrage & management property owners
36:20 Allen’s complimentary mid-term rental analysis for his potential clients
38:20 Furnished Finder’s mid-term rental stats tool
39:00 Details to include in your management & arbitrage contracts
40:15 How Hospy Homes keeps their property owners informed
41:15 Building your team & standard operating procedures
42:45 Helping your team thrive & find value in their position
44:15 Networking is a huge part in expanding your mid-term rental business
48:45 How to connect with Allen, Founder of Hospy Homes
Website Links:
https://www.furnishedfinder.com/
https://www.furnishedfinder.com/stats
https://www.facebook.com/groups/furnishedfinder.travelnursehousing/
Connect with Allen, Founder of Hospy Homes:
https://www.furnishedfinder.com/members/profile?u=allen.duan
@allenduan120
E-Myth Book
Text the hosts with questions or comments.
The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.
122 episodi
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