Don’t Wipe Out in the Santa Barbara Real Estate Market – Hang Ten With Vacation Rentals! Part 2

Santa Barbara Property Rental Market, Scenario 3:You own investment property in Santa Barbara and live elsewhere. You might visit Santa Barbara once a year or for the winter or summer. Your property management company is charging 10%, but they are not getting enough rent money after maintenance and their fees to cover your mortgage payment. They may be getting enough to cover your expenses. You are not there to see that the property is being well maintained. With Vacation Rentals, the hospitality industry demands that properties be thoroughly cleaned, maintained, and fully functioning prior to your guests’ arrival. With vacation rentals your guest fees surpass monthly rent, even though you pay higher marketing and booking fees (20-25%) and incur some value-added expenses; you will be ahead in the following ways:
Vacationing guests are happy guests and take better care of property.

The hospitality industry does not operate under lease law.

Homes are thoroughly cleaned before and after each guest.

Everything must function at all times, homes are well maintained by necessity.

Guest are short term, and potential damages are limited.

Damages can be deducted from credit card if necessary.

No smoking, and no pets rules can be instituted.

Security locks are installed, and security is changed before and after each guest.

Property is inspected thoroughly several times each month.

Book your property for yourself, friends, or family and you don’t even have to clean it when you leave-just pay the cleaning fee..
Vacation Rental Math:CASE STUDY, Colorado: As a desirable vacation rental, your property rents for $695 a week in the Colorado market and is 75% full. (In this soft market, you normally lease for about $795 a month, with the house standing empty 6 -8 weeks a year.) Your vacation rental monthly income at $695 a week is now $2780 a month. You’ll pay out of that $278 a month in additional expenses. Your net income is now $2502 a month. Figuring in the weeks it might stand empty (75% of the time) you are now at $1876 a month. Taking a 25% commission from that amount nets you a monthly incomes of $1407. Annual income will be $16,884.00 . . . in a soft market! But wait . . . what if the following year the commission was reduced to 22.5%, but your home was 80% full? Your rental income is now $18,008 the second year. Did you follow that? This is your rental property in a soft market. And this includes 20% vacancy!These are real figures in Colorado. We have done this for 3 homes, for 3 years in different price ranges and various locations. For a ballpark idea, multiply the income roughly 3 times for Santa Barbara Properties. Better yet, call me for a Vacation Rental Analysis (VRA) appointment to get a better idea what is possible for your property. Or you may e-mail for an information sheet.Santa Barbara Property TransformationCreating a marketing plan for transforming a property into a vacation rental includes adding value, and marketing it to a specific market in smaller increments. You will market it in by-the-week units, rather than wholesaling a 1-year lease, as in traditional property rentals. It’s like buying a case of Cokes at Costco, where each 12-ounce can costs only $.25. But if you buy through a vending machine the price will be a dollar (added convenience value); or if you buy the same Coke at a San Diego Chargers Football game it will be $3!Transforming Santa Barbara Real Estate into vacation rentals involves imagination, creativity, resourcefulness, marketing strategy, and expertise. It may involve furnishing and decorating, creating a reservations contract, operating a reservations line, accepting credit cards, marketing properties online, maintaining websites and listings, even internationally. There are cleaning crews and maintenance crews to manage. Ideally, this process should be started in December to January as marketing for the best summer booking opportunities start in January!Your Santa Barbara property will be marketed to a unique market segment–the hospitality industry, to include those who are vacationing, relocating, visiting friends and family, are involved in competitive athletes, waiting for a home to be built or bought, or professionals on business trips. A good VRA (Vacation Rentals Analysis) will give you an idea of what is involved and what, if any, potential your property may have as a vacation rental.

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Finding the Best Business Idea For Your Home Based Business

How many home based business opportunities are available to you? If you want to make money online at home, you really have many options to choose from. The big question is – which one will give you the biggest chance of success? Is there a ‘one size fits all’ answer? The simple truth is that not every opportunity is right for everyone, and not every opportunity will bring you the greatest amount of profit.

So, what are some home business ideas that can make money online for you? The quick and dirty answer is: the one that best suits your particular set of needs. Make a list of your priorities, including a high income; a low-risk schedule; freedom; flexibility; work-life balance; independence; something in your range of skills and expertise; and interesting work that you have an interest in… You can take this list with you and talk to people who are working from home on the same things that you would be considering. Chances are that you will find some great niches that fit your standards and your desires.

But what if you want to get started right away? It’s easy to think that you can jump into a new business idea and be successful immediately, but this often isn’t the case. It takes many different things to make sure that you will be able to get through the hurdles and actually make it to a point where you are seeing profit. If you don’t work at it slowly, you will be setting yourself up for failure. Here’s the lowdown on some different things that you should consider as you create your own business idea:

First, you need to think about what you have to offer. If you don’t have any ideas as to what to do as a freelance writer, a lowdown on finding a niche is very important. Many beginners go into this completely clueless. But if you know that you have a skill that others are desperately seeking, you may be able to provide them with the service they are looking for without having to spend much time building up a website or getting traffic to it.

Another thing to consider is what kinds of products or services would best fit a niche that you would like to get started in. In this case, the lowdown on finding the best business idea for you would include taking a look at what you love to do and what you can offer others. If writing is not your strongest point, but you love to get creative, consider freelance data entry. Freelance data entry does not require a lot of startup capital, but you still need to have the skills that will allow you to be successful in this area. The best lowdown on finding the best business idea for you is to simply start looking at what you like to do and what you can offer others.

There are many other areas of freelance writing that you can explore in order to make the most out of your home based online business. Freelance writers are in high demand online. If you have the skills that are needed to do well in this field, there is no reason that you should not be able to find a great home-based online business that will give you the income that you want.

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The Best Ways I’ve Found To Make Money Online From Home

Have you been looking for a way to make money online without having to know much of the internet stuff? Wanting to work at home but don’t know how to do it? Here is the key gem: Between all the tricks on joining the craft beer movement, opening a gallery or being a tour operator, you will find clever advice that anybody can apply to make money online quickly.

The most basic way to make money online is through affiliate marketing. It is really easy. Basically you set up an ad for someone she is selling something and when they click through and buy it, you make money! Simple enough if you have no technical skill at all. Here are some simple tips on how to earn using affiliate marketing:

Drop-shipping is one of the most useful methods. You select a product in which you believe there is a demand and then drop-ship it to your customers in small quantities. You make money from the difference between what the stock costs and what you sell it for. For this method, it is important to note that you may need to make space for your inventory on your premises or perhaps wait until you have a build of an inventory before you can start drop-shipping; but the advantages make it a good choice for those seeking to make money online from their spare time.

Paid surveys are a great way to earn some extra cash. These can be accessed easily and there are many sites where you can get paid from spending your spare time. There is one site, though, which is said to pay $200 a week for twelve weeks straight – you can’t beat that kind of money making potential. With paid surveys, it is important to note that the sites are generally scams, and that you need to do some research to ensure you are making good money making opportunities.

Finally, a passive income generating method that can bring in money on autopilot is eToro’s Forex trading. This works by allowing you to invest on a demo account and earn money from the performance of the currencies being exchanged. The best thing about this system is that it allows you to do virtually anything and still see profits coming in. eToro has an average starting price of less than $50 and can generate an income of five figures in just a few months.

These are the best things I have found for making money online from your home. Though none of them are as good as, say, a paid-online course, they are much more affordable and can provide a valuable education to start earning money immediately online. With just a little research, you should be able to find a legitimate opportunity to get paid to learn the basics of making money in the currency markets. This is a truly remarkable opportunity.

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