Jeff Pearl, Full Service Full Time Realtor (RE/MAX Distinctive / LIC in VA)

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Rainmaker
3,246,043
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have attended a real estate auction of  a condo project. As for the future use of this or any property  "it depends".

Oct 31, 2018 05:39 AM
Ambassador
1,614,024
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I would think it should rent for at least $5000 a week. Before you scoff we have condos in Florida that don't approach this size that rent for $2000 a week in high season.

Oct 31, 2018 05:59 AM
Rainmaker
4,875,459
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

WOW... that's the perfect use for that dwelling....

Oct 31, 2018 05:56 AM
Rainmaker
2,902,588
Richard Weeks
Dallas, TX
REALTOR®, Broker

I think that is a lot to invest for an Air-bnb

Oct 31, 2018 05:31 AM
Ambassador
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      I have attended absolute auctions.

        I wouldn't recommend that high a price range as rental property.  Maybe as a company retreat.

Oct 31, 2018 06:17 AM
Rainmaker
1,566,625
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I do not have enough experience in this area Jeff Pearl but if after doing enough research I was convinced that it would turn a handsome profit I would go for it. I certainly am no where near the point that I could afford such risk but if an investment came my way that I was convinced would work out in my favor I'd most likely go for it.

Oct 31, 2018 05:57 AM
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

The only auctions I have T attended were art auctions

Oct 31, 2018 06:51 AM
Rainmaker
734,927
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I don't know about an AirBnB but I do go to auctions from time to time

Oct 31, 2018 06:49 AM
Rainmaker
3,173,491
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Have participated in Auctions. Not an AirBnb fan!

Oct 31, 2018 05:41 AM
Rainmaker
725,830
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Interesting, would make for a great family vacation/reunion place and for a  small company retreat setting. This property could bring in the income, but I think one could find a better ROI elsewhere. Would list in VRBO as well.

(Some just rent part time to cover property taxes and upkeep.)

 

Oct 31, 2018 05:39 AM
Rainmaker
2,765,439
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I do not attend auctions. 

Much research would be required to determine a good investment opportunity. 

Oct 31, 2018 08:31 AM
Rainmaker
657,924
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

I've attended many auctions and have helped clients purchase more than 10,000 properties this way. Here is what matters:

1) Can I bill more than my cost?

2) If there is not an immediate return on investment, is there enough future return on investment to cover the short-term loss?

3) Can I "flip" the property to someone else who will pay more than my cost?

I think it could be a great purchase if any of those conditions exist. You'll need to make sure it can legally be used for your intended purpose (AirBnB, Conference Center, Retreat, etc.)

Happy bidding.

Oct 31, 2018 06:51 AM
Ambassador
3,192,569
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh, I could totally see someone using that as a bed-and-breakfast - what a great place to live or visit!

Oct 31, 2018 06:47 AM
Rainmaker
3,073,334
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

boy this one would be interesting.

 

Oct 31, 2018 09:52 AM
Rainmaker
984,308
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It's impressive for sure and guests would love it. My concern would be how many days per year it would have to be booked to let it break even. I see a lot of maintenance going on here to do an Airbnb properly.

Oct 31, 2018 09:09 AM
Rainmaker
443,696
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I don't attend auctions but the AirBNB sounds like a great idea!  Wishing you the BEST!

Oct 31, 2018 08:55 AM
Rainmaker
4,320,493
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff,

The old adage, if you have to ask, like Lyn Sims said. A

Oct 31, 2018 08:51 AM
Rainer
139,432
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

I do go to Auctions.....on the AirBNB, check with the township alot are changing their criteria for Air BNB's to eliminate them

Oct 31, 2018 08:31 AM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't know about this for an investment, but I have attended these auctions.  I have also seen some "absolute" auctions with straw bidders where the home really didn't sell.  This happens a lot with some bank foreclosure online auctions.

Oct 31, 2018 07:42 AM
Rainmaker
1,507,666
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Too 'woodsy' looking for me but it looks like it would fit the bill.

Last big auction we had here was a farce. Made all this fuss & then it didn't meet the minimum bid which was kept a secret.

Oct 31, 2018 07:30 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Have bought some gems at auctions.

Oct 31, 2018 07:26 AM
Rainmaker
2,980,548
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

No, I don't attend auctions. Hard to say about AirBnb... a lot depends on the demand for the area, restrictions, etc. Seems as if it might take a while to pencil out.

Oct 31, 2018 07:22 AM
Rainmaker
1,818,056
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Big time $$$

Oct 31, 2018 07:17 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Oct 31, 2018 05:32 AM
Rainmaker
527,350
The Villages Realty
The Villages Realty - San Jose, CA
"Our Performance Will Move You!"

Interesting property.  It could make an interestering AirBNB

Oct 31, 2018 05:49 PM
Rainmaker
1,212,449
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No idea about AirBnB, but I have spent many a day at the county courthouse auction.

Oct 31, 2018 04:11 PM
Rainer
222,707
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Do the city/ county and neighbors allow? Cost to Carry is about $ 600 a day. What can you rent the rooms for? $200 each with on site caretaker then damages and supplying breakfast. Assume you rent 2 rooms 4 nights a week earn about $240000 a year gross less cost not much profit there. IF you were to live in the small room and think you can live in the mansion for retirement you might break even. What about disasters, bad weather, cancellations, lack of privacy, labor...  I say is not a good investment. Who ended up buying? What was final auction price? AirBNB is outlawed in some places as they don't pay room tax and have wild parties, no way to know if in the future the use type will be allowed

Oct 31, 2018 02:26 PM
Rainmaker
985,479
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

looks like $8-10 M if it was around here..

Oct 31, 2018 10:45 AM
Rainmaker
5,269,617
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have attended many auctions. You will have to make the decision on your investment. Put together a limited partnership.

Oct 31, 2018 12:14 PM
Rainmaker
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Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

Yes I attend auctions from time to time. 

Nov 05, 2018 08:42 PM
Rainmaker
1,037,744
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Personally I think that the Airbnb types of properties are bad overall for neighborhoods as well as for would be owner occupants for many reasons

Nov 05, 2018 01:34 PM
Rainmaker
4,023,957
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Never been to an auction, so maybe next time I hear of one, will attend.

Nov 03, 2018 07:03 AM
Rainmaker
3,977,717
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have been to a few but not many

Nov 02, 2018 07:33 PM
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I have gone to and bid at absolute auctions and there are deals to be had. I cannot speak to whether this would be a good deal or not. Many local magistrates are limiting the AirBnb businesses and investors are getting stuck. I'd say be careful and have a back up plan.

Nov 01, 2018 07:08 AM
Rainmaker
2,944,129
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I went to one  yesterday and have another today. I LOVE absolute auctions, i do my research and buy right. Not sure about air bnb, i am buying, fixing and selling, no time to hold right now with interest rates uncertain

Nov 01, 2018 05:19 AM
Rainmaker
1,478,411
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I do not go to live auctions, I help clients bid online. In our area 2-3 mln is an ''ordinary'' price.

Oct 31, 2018 11:48 PM
Rainmaker
1,457,212
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Nice, but I am not a fan of short term rentals.

Oct 31, 2018 08:52 PM
Rainmaker
1,035,384
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

No idea, Jeff. 

Farway from it.

Oct 31, 2018 08:16 PM