Nice vid Jeffery. First, how did you get a house, with an apartment above the garage for $390K in Sierra Madre? That's crazy cheap, you must have purchased it way back in the day. I love that area and if I could find a deal like that, even a little higher, I would snag it in a minute. Also, you referenced some of the major attractions in the basin, but there are so many things to do in the LA/OC area that it makes great sense to have a place where you are. Sure, maybe it's a pain to get to the OC for some of the stuff there, but if I'm vacationing and I want to go to the OC, I would just book a place down in the OC. Pasadena has some good attractions, great restaurants, and the gold line is a pretty easy way to get into LA without the hassle of driving on the freeway. I'm putting together an Airbnb close by where I currently live and I'm looking at the potential of doing a couple in So Cal in the near future, one in the OC for sure, and maybe one in Joshua Tree. Your place in Sierra Madre has me thinking though. Thanks!
Also, I was saying that my distance to LA and OC was a negative to Sierra Madre. We just happen to have an Airbnb in Sierra Madre because we live there. Buying a house in Sierra Madre now for income in my opinion is a bad investment. Perhaps you can look into Oxnard. Check out my video about my future Airbnb Oxnard, you might find it interesting.
Thank you for this video! I’m considering rental arbitrage in Whittier in 2022 and I’m just getting a feel for it. Your videos are presented so clearly, rather than in investor speak, and I dig that 😉👍🏼It also doesn’t hurt that we are in the same region. Keep up the good work!
Your videos are actually very straight to the point, thank you so much! I really needed some type of mentorship that actually gives us info and advice straight forward. I wish you can be my mentor , do you do any live zoom meetings?
Great video! Are you planning to buy another airbnb property in LA? How do you get away with the LA Airbnb regulation? Are you planning on only long-term guests?
Thank you Alden, no I’m not looking in LA. I’m still undecided on where to buy, but I’m looking in San bernidino county and Ventura county at the moment. As for my current Airbnb, although it’s in LA county, the rules and regulations are city specific, so since my city is unregulated, I get to host short term without need to jump through a bunch of hoops.
@@thecabretty11 Well, it’s not like you can’t do business in other cities that have regulation. It’s just that Sierra madre is not regulated yet so I am able to do business without needing to jump through a bunch of hoops.
Do you have a video on the rules for LA County? When I search online for Bnb rules for Los Angeles County the articles are about LA City. Do you know if the rules are the same or are there differences? Thank you
Yes and no. I use the free version of wheelhouse and compare it to Airbnbs smart pricing when I have availability (which is not that often) and then I make my own judgment call on the price. I’ll do this every couple days until booked.
I think in the beginning you need some short terms to build your reviews. After about 10 reviews you can switch to “mid term”, which is like 2 weeks - 3 months. I like mid term bookings a lot better. Easier to manage and still good money.
Thanks very informative. Are there any restrictions on maximum days for short term rentals in your City? I just can't see anyone can operate short term rentals (less than 30 days) in the City of Los Angeles.
@@marleneguerron2557 I am in Glassel Park near Eagle Rock. I have the same questions. Would you share your success here if you have figured things out?
I have the same question. I'm having a hard time finding info on how to do this properly. I'm in a similar situation as you were the back house is a duplex. We're in Atwater Village. Appreciate your help! :)
I use the free version of wheelhouse. It’s more of a manual process. I see what they recommend and then I make my own decision. I repeat this process about once a week, assuming I still have availability in the near-ish future.
You are best thank you for your help . Email . I asked someone to help and she told me if ur 4th grade pass u can do it . I couldn’t do it and felt really upset . But u help me . God bless you
No problem. I was happy to help! There are many things that about the process of getting a permit that are not easy to understand. I’m pretty sure 80% of people or more get confused or have questions.
Hey! I own the home. I think in general, owning is better than rental arbitrage, but if you were to rental arbitrage in LA (city) you need the written consent from the owner of the home. There is a form online that LA city provides. Check out my video on LA regulation. I go over it and more in that video.
Nice vid Jeffery. First, how did you get a house, with an apartment above the garage for $390K in Sierra Madre? That's crazy cheap, you must have purchased it way back in the day. I love that area and if I could find a deal like that, even a little higher, I would snag it in a minute. Also, you referenced some of the major attractions in the basin, but there are so many things to do in the LA/OC area that it makes great sense to have a place where you are. Sure, maybe it's a pain to get to the OC for some of the stuff there, but if I'm vacationing and I want to go to the OC, I would just book a place down in the OC.
Pasadena has some good attractions, great restaurants, and the gold line is a pretty easy way to get into LA without the hassle of driving on the freeway. I'm putting together an Airbnb close by where I currently live and I'm looking at the potential of doing a couple in So Cal in the near future, one in the OC for sure, and maybe one in Joshua Tree. Your place in Sierra Madre has me thinking though.
Thanks!
Hey! Thanks for your comment. Actually, my mortgage’s starting balance was $390k. The house itself was 765k.
Also, I was saying that my distance to LA and OC was a negative to Sierra Madre. We just happen to have an Airbnb in Sierra Madre because we live there. Buying a house in Sierra Madre now for income in my opinion is a bad investment. Perhaps you can look into Oxnard. Check out my video about my future Airbnb Oxnard, you might find it interesting.
just found your channel, love your content and how you explain things! thank you :)
Thanks for your support!
Great video again, very informative 👍
Great video!
Thank you for this video! I’m considering rental arbitrage in Whittier in 2022 and I’m just getting a feel for it. Your videos are presented so clearly, rather than in investor speak, and I dig that 😉👍🏼It also doesn’t hurt that we are in the same region. Keep up the good work!
Thank you for your support!
So cool! I want to try this as well In the LA area
Awesome video dude!😄👏🏼👏🏼👏🏼👏🏼
this was great Jeremy. Love getting the insight scoop.
appreciate ur vids!
good video Jeremy!
Oh god. I hope this doesn’t catch on.
I love your cat!
good stuff Jeffrey! One thing - you’re comparing net Airbnb earnings to gross rent proceeds. SFR is typically 65% margin before debt costs
Your videos are actually very straight to the point, thank you so much! I really needed some type of mentorship that actually gives us info and advice straight forward.
I wish you can be my mentor , do you do any live zoom meetings?
Hey Sun! Thanks for the comment. You can email me any questions you have. Jeffreyyamada@gmail.com
Jeremy, great insights as usual! #invaluable
Thanks Peter! I guess that’s my name now.
@@JeffreyYamada tell the wife that “Invaluable” is your new name 😂😂😂
Great video! Are you planning to buy another airbnb property in LA? How do you get away with the LA Airbnb regulation? Are you planning on only long-term guests?
Thank you Alden, no I’m not looking in LA. I’m still undecided on where to buy, but I’m looking in San bernidino county and Ventura county at the moment. As for my current Airbnb, although it’s in LA county, the rules and regulations are city specific, so since my city is unregulated, I get to host short term without need to jump through a bunch of hoops.
@@JeffreyYamada
Im just curious.
So Sierra Madre is and independent or incorporated city, that's why you can do the business there?
@@thecabretty11 Well, it’s not like you can’t do business in other cities that have regulation. It’s just that Sierra madre is not regulated yet so I am able to do business without needing to jump through a bunch of hoops.
Aww looks like my kitty . You are best
Do you have a video on the rules for LA County? When I search online for Bnb rules for Los Angeles County the articles are about LA City. Do you know if the rules are the same or are there differences? Thank you
Do you use dynamic pricing? I think your profit will increase a lot with it
Yes and no. I use the free version of wheelhouse and compare it to Airbnbs smart pricing when I have availability (which is not that often) and then I make my own judgment call on the price. I’ll do this every couple days until booked.
I’m so surprised that occupancy rate is that high in Sierra Madre.
Yeah I know. I was very surprised as well.
Jeffrey I am trying to setup my page what is better short term or long term booking
I think in the beginning you need some short terms to build your reviews. After about 10 reviews you can switch to “mid term”, which is like 2 weeks - 3 months. I like mid term bookings a lot better. Easier to manage and still good money.
Thanks very informative. Are there any restrictions on maximum days for short term rentals in your City? I just can't see anyone can operate short term rentals (less than 30 days) in the City of Los Angeles.
I have questions about hosting on Airbnb when host do you need permits from Los Angeles home share license?
It depends on where you live. Where do you live?
@@JeffreyYamada I live in Eagle Rock Los Angeles trying to sign up Airbnb host they are asking me get home share license.
@@marleneguerron2557 I am in Glassel Park near Eagle Rock. I have the same questions. Would you share your success here if you have figured things out?
I have the same question. I'm having a hard time finding info on how to do this properly. I'm in a similar situation as you were the back house is a duplex. We're in Atwater Village. Appreciate your help! :)
Have you used dynamic pricing before? Is it worth it?
I use the free version of wheelhouse. It’s more of a manual process. I see what they recommend and then I make my own decision. I repeat this process about once a week, assuming I still have availability in the near-ish future.
Thanks for sharing. Are you still hosting, if so, how is it going? Thanks again
Yes I am. Everything is going relatively well. I’ll make a update video soon.
You are best thank you for your help . Email . I asked someone to help and she told me if ur 4th grade pass u can do it . I couldn’t do it and felt really upset . But u help me . God bless you
No problem. I was happy to help! There are many things that about the process of getting a permit that are not easy to understand. I’m pretty sure 80% of people or more get confused or have questions.
Hey Jeremy quick question do you own this home or are you doing rental arbitrage. Also what are the laws with rental arbitrage in LA. Thanks 🙏
Hey! I own the home. I think in general, owning is better than rental arbitrage, but if you were to rental arbitrage in LA (city) you need the written consent from the owner of the home. There is a form online that LA city provides. Check out my video on LA regulation. I go over it and more in that video.
Jeremy??
@@movieflix683 No, it’s Jeffrey. Don’t know why Jeremy is catching on.
@@movieflix683 partly people mistakenly calling me Jeremy. Partly people trolling haha
@@jeffreylee9204 😄
😃
Let’s partner up I want to do airbnb in Brentwood LA
DMd you on IG