If you live in these 35 cities I will pay your summer rent

[californiagrown]

I think you know a different breed of young professional than we do... could you introduce us? If they're able to party their faces off on work trips while still performing in the kinds of jobs that expense travel, they're doing something right!

As for forcing people out of the market, you have to realize we rent to the local [student] market for the months they're in school. Which means our rent prices still have to be competitive in order for us not to lose money from having our properties sit empty.

I think what you're talking about are companies who run their properties as vacation rentals year-round. In that case since the annual return on investment for the property is far greater, it can push up prices in the market as their revenues allow them to pay more for the cost of the living space. What we're doing is a little different, because we're gathering unused supply and matching it with the demand in a parallel market for the months where it's relevant.

The rest of the year we're simply a normal property management company that comes with extra perks for students like bi-weekly cleaning. There really shouldn't be any distortion in the market caused with our model as far as I can see - if we did cause rent increases it would end up hurting us for the 8-months of the year that we operate in the rental market. Sorry if that got a little technical, I'm an economist by training so I get a little jargon-y sometimes!

Lol at the first part. As for the second part, your company helps to push up prices in the neighborhood. The prices dont have to be overly competitive because of the totally out of wack supply to demand ratio.

You charge more for your rent than what you pay for it, correct?

How the hell does that mean you arent pushing up rental pricing?

Yeah I see what you're saying. Not necessarily by our actions, but theoretically landlords could try to replicate our model individually.

It actually already happens in San Diego. My friend lives right next to Mission beach where it's largely a student community, and the landlords there offer 8-month leases tailored specifically to student needs so they can rent it out over the summer as short-term vacations.

That being said, there's a limited market for that. There's only so many landlords that can do that before there's no one left to sign the 8-month leases - for most demographics the standard 12-month lease is the only one that makes sense.

So definitely possible, but highly unlikely that our model will end up shifting the market like standard Airbnbs might.

How does your company make money if it doesnt charge more money than it pays the sublettor to sublease?????

 

[californiagrown]

Look, the industry your company is a part of does raise rental prices in cities where it is popular. thats not really up for debate.

What is up for debate is if higher rent is a bad thing. More taxes, more money into the local economy etc are all good things. But higher rent draws a demographic that removes much of the city's character IMO.

 

[californiagrown]

and before you completely write me off I actually am related to Peter Lewis who was the ceo progressive. He had a heart attack last year, but he was worth over 1 billion before he died. So I do know a little bit about business

BAHAHAHAHAHAHAHA WTF does being loosely related to a rich guy have to do with being business savvy? the fact that this was an actual thought of yours that needed expression shows you aren't business savvy.

 

[Hubsta]

Based on your job ads for all of your regional managers, you're looking at about $350k in wages. Your burn rate must be crazy.

 

[skitheweast]

Sketch

 

[shocker611]

I know that's not your company now. I was saying that's why I thought it was because it match with everything you said.

I will give it to you I have been riding you pretty hard, because I didn't really take you seriously, I never do on newschoolers. But as much of a dick as I've been you have represented yourself pretty professionally, and I do respect that. I don't know what that says about your business experience, but at the end of the day your reputation is everything.

maybe you are a huge company And I have just going completely under the radar. But yeah good luck to rolling out internationally, you're going to need it that's going to be an insane amount of work.

and before you completely write me off I actually am related to Peter Lewis who was the ceo progressive. He had a heart attack last year, but he was worth over 1 billion before he died. So I do know a little bit about business, so as my apology if you want send me a PM I'll shoot you my email, and if you have a problem in future you need help with. I won't be able to help you but I can definitely put you in touch with someone who can. k byeeeeeeeeeee

"I'm related to the CEO of progressive, so I know about business". hahaha holy shit you are dumb

 

[Ian_Fitz]

How can I get on board? I would love to work for you with as little work as possible. Im 16 with no work experience and I have been convicted of 7 felonies.

 

[deleted5]

"I'm related to the CEO of progressive, so I know about business". hahaha holy shit you are dumb

I have 3 family members that have made successful startups. Yeah I have a little more knowledge than the average person on this. Also great point to pick out, and not anything I said about the actual business.

 

[Obsessedwski]

Lol at the first part. As for the second part, your company helps to push up prices in the neighborhood. The prices dont have to be overly competitive because of the totally out of wack supply to demand ratio.

You charge more for your rent than what you pay for it, correct?

How the hell does that mean you arent pushing up rental pricing?

How does your company make money if it doesnt charge more money than it pays the sublettor to sublease?????

You might be basing this too much on your experience in SFO - I'd say the effect of Silicon Valley is quite an exception compared to other similar-sized cities in the world.

We make our margins during the summer - if we do incur extra expenses during the rest of the year (we don't really at the moment) it's passed on at near cost and with rent remaining around average market rates. At the end of the day prices are dictated by economics, and if there's more demand than supply it's going to go up whether it's Airbnb's or demand from Googlers.

Based on your job ads for all of your regional managers, you're looking at about $350k in wages. Your burn rate must be crazy.

We're well funded

How can I get on board? I would love to work for you with as little work as possible. Im 16 with no work experience and I have been convicted of 7 felonies.

16 years old, 7 felonies, and as far as I know you wouldn't be surfing NS on the inside, so you're somehow out... must've paid off some judges, bribed your way through, or have some mad connections. Either way shows initiative, interpersonal skills, and hustle; all qualities we look for! Check out our postings here, and let us know if you think you'd be a good fit https://angel.co/flatbook/jobs

 

[shocker611]

BAHAHAHAHAHAHAHA WTF does being loosely related to a rich guy have to do with being business savvy? the fact that this was an actual thought of yours that needed expression shows you aren't business savvy.

I got a good kick outta that one

 

[timmi]

I know that's not your company now. I was saying that's why I thought it was because it match with everything you said.

I will give it to you I have been riding you pretty hard, because I didn't really take you seriously, I never do on newschoolers. But as much of a dick as I've been you have represented yourself pretty professionally, and I do respect that. I don't know what that says about your business experience, but at the end of the day your reputation is everything.

maybe you are a huge company And I have just going completely under the radar. But yeah good luck to rolling out internationally, you're going to need it that's going to be an insane amount of work.

and before you completely write me off I actually am related to Peter Lewis who was the ceo progressive. He had a heart attack last year, but he was worth over 1 billion before he died. So I do know a little bit about business, so as my apology if you want send me a PM I'll shoot you my email, and if you have a problem in future you need help with. I won't be able to help you but I can definitely put you in touch with someone who can. k byeeeeeeeeeee

Okay, everything you say is such a fucking headache. You can't just act like a fucking idiot hijacking this guys thread with your nonsense. And then you come out the other side with your tail between your legs saying that he was a stand up guy for responding to whatever your feeble fucking mind could slap out on a keyboard.

He's representing his company at this point, so he can't say what everyone else is thinking. SHUT THE FUCK UP. Go back to being that weird fucking guy flexing in a muscleshirt on tinychat in his parents basement.

I didn't feel the need to respond to anything you said, because realistically who gives a shit what you have to say. But then you had the god damn audacity to claim that you had credibility based on who your fucking uncle was? Guess what? Sylvester Stallone has a kid with autism. Retarded happens.

I'm too old to give a shit about things like this on this website. But fuck. Like come on.

 

[californiagrown]

You might be basing this too much on your experience in SFO - I'd say the effect of Silicon Valley is quite an exception compared to other similar-sized cities in the world.

We make our margins during the summer - if we do incur extra expenses during the rest of the year (we don't really at the moment) it's passed on at near cost and with rent remaining around average market rates. At the end of the day prices are dictated by economics, and if there's more demand than supply it's going to go up whether it's Airbnb's or demand from Googlers.

We're well funded

16 years old, 7 felonies, and as far as I know you wouldn't be surfing NS on the inside, so you're somehow out... must've paid off some judges, bribed your way through, or have some mad connections. Either way shows initiative, interpersonal skills, and hustle; all qualities we look for! Check out our postings here, and let us know if you think you'd be a good fit https://angel.co/flatbook/jobs

You charge more than you pay, correct? The average sublettor could pay what you pay if they didn't go through you. But because they go through you, they pay more.

 

[deleted5]

Okay, everything you say is such a fucking headache. You can't just act like a fucking idiot hijacking this guys thread with your nonsense. And then you come out the other side with your tail between your legs saying that he was a stand up guy for responding to whatever your feeble fucking mind could slap out on a keyboard.

He's representing his company at this point, so he can't say what everyone else is thinking. SHUT THE FUCK UP. Go back to being that weird fucking guy flexing in a muscleshirt on tinychat in his parents basement.

I didn't feel the need to respond to anything you said, because realistically who gives a shit what you have to say. But then you had the god damn audacity to claim that you had credibility based on who your fucking uncle was? Guess what? Sylvester Stallone has a kid with autism. Retarded happens.

I'm too old to give a shit about things like this on this website. But fuck. Like come on.

I thought I found the financial of his company and I was wrong, I apologized for it. It was a different company.

I still stand by its a horrible idea to spread out as large as his company is.

 

[KravtZ]

"I'm related to the CEO of progressive, so I know about business". hahaha holy shit you are dumb

Kid sounds like the biggest tool on the planet. Everyone knows someone who knows someone is is mega rich, super succssful, etc. Just that attitude alone I wouldnt hire that kid.

 

[turducken]

I have 3 family members that have made successful startups

And then there's you. The family disappointment.