I am a super host, currently have two properties in Aspen Co. I have been doing this for 3 years and it has been very successful.
Anyway, I digress. How many here would be interested in getting paid upfront for a rental, even though the rental was months out?
You would obviously pay a fee for this.
It is the adage, money in your hand today is more valuable than money in your hand 4-10 months down the street.
Let me know you thoughts. I know there is one company that does this but they charge an very high rate.
Um. no. Therein lies skidrow. Loansharks are not my favourite company to keep. I think you’ll get short shrift on here, to be honest. And your script of
is so wrong in so many ways.
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^^^well, sorry you feel that way. I know people would rather have cash today for a small fee.
I’m sure you do, as you rub your grubby hands in glee.
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Don’t really understand your post.
Are you trying to promote a service offering loans based on rental income?
What do you charge?
oh, you have reduced youself to name calling. You work in finance? You realize most manufactures factor their receivables? The Limited, John Deerr, to name a few. That is right, these guys would rather get paid today on invoices that are 30,60,90 days out. So why not do it for air bnb
But i am sure you knew that
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I’m sorry, I was too quick to judge. It seems like you offer a very professional service. The big question, of course, as Helsi asked: what are your rates?
Are you a derivatives trader?
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No not clear at all.
If you need money for your property and goods why would you be giving me money?
And anyone with any basic understanding of economics knows you can’t compare the manufacturing sector with individuals (it’s mostly individuals) who rent out their places through Airbnb.
If they need money to invest in a property an individual will always be better mortgaging/remortgaging than taking out a high interest short term loan.
And what happens if they lend money from you and the booking gets cancelled?
And @Magwitch is a long standing member of this forum who contributes lots of advice and support. Surely you know that short term loan sharks don’t have the best reputation so coming on here as a newbie to promote short term loans and expecting to be seen as credible does show rather a lack of business acumen.
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Not really. You want to borrow money to do your repairs, it seems? There are some people out there who offer this service but please be careful before using them, they will charge a lot.
I could do this if I offered my vacation rental directly with my own website and I wouldn’t have to pay any fees.
And why do you think this is? Why are the rates so high with all the payday loan companies? That’s what you are offering, (or hoping to offer) a glorified payday loan. What are you going to do if your Dec. booking cancels and you aren’t able to get an adequate rebooking?
I think the supply of this kind of service already exceeds demand and the other company already has first mover advantage. But, that’s just my two cents.
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So that give Magwitch the right to tee off on me. this is the research area, right? So i was wondering what the feedback was. Obviously this is not a forum where i should be getting opinions. He might contribute but all I am doing is asking a question.
there is obviously a market for it, because i know of one company that does it. Their rates are high.
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Yeah i am a derivatives trader.
Glorified payday loans? You know what the effective APR is on payday loans? anywhere form 70-500%.
I am thinking a traditional factor, 1-3% per month.
so once again, lots of aggression here. I dont offer this service, I am looking for people to bounce this off of. Obviously not the group to do that with.
Oh, so i dont have a basic understanding of economics? I find that funny.
When was the last time you refied or got a helco? I am in the middle of restructuring some debt. My credit is around 790-810 depending on credit agency, my three prop have tons of equity in them. Income is strong. Yet i am going on 5 weeks in trying to get approvals. This product would take a week, and once you are a customer, it would take a day or two to get funds.
I would not use such a service. If I need a loan, I have access to more staid financial options, I am happy to say.
With AirBNB allowing full refunds, it would be easy to put false bookings on the calendar and ask for upfront payment. What form would collateral take? The APR would have to be lower than a standard credit card – I have no idea what CC rates are these days. 1-3% sounds way too low to cover losses and make a profit. But if it could be done for 1-3%, I’m sure some people who are tight on credit may like something like this.
This scam/idea was posted here a few months ago. No one took the bait.
If you can’t qualify for tradional lending, you will end up paying outrageous fees and interest.
I wish there was a way to keep this forum free of sharks looking for a way to scam Airnb hosts out of their well earned money. Should members be screened, ie moderator is given link to potential members Airnb listing? People who want to research before setting up a listing are able to read what’s here.
I’m removing your post for the obsecenity. Not allowed here sorry. Please read our pinned forum guidelines. This is mandatory for new members.
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