The Landlord Diaries FF108 From Studios to 3 Bed Homes: Allen Duan’s Path To 26 Managed & Arbitrage Properties
Welcome to The Landlord Diaries! In this episode, we sit down with Allen Duan, a mid-term rental powerhouse with a portfolio of over 26 managed and arbitrage properties in Southern California. Allen shares his incredible journey from short-term rentals (STR) to mid-term rentals (MTR), a strategic pivot driven by local restrictions and market opportunities.
Allen's success story is a masterclass in leveraging platforms like Furnished Finder to host thousands of guests and generate substantial booking volumes, ranging from $2k/month for studios to $10k/month for three-bedroom homes. He provides a detailed walkthrough of his process, including the importance of networking, building a strong team, navigating real estate laws, and the nuances of rental management, arbitrage, and co-hosting.
In this episode, we cover:
0:00 Welcome to The Landlord Diaries
2:45 Allen started in STR but shifted to MTR due to local restrictions
3:30 What led Allen to real estate & specifically the arbitrage & management model?
5:10 The Hospy Homes Team & portfolio
6:00 Allen’s perspective on rental management, arbitrage & co-hosting
7:35 Did state & local laws require Allen to obtain a broker’s license?
9:30 Evaluating your portfolio in the growth stage
10:30 Hospy Homes total booking volume was around $700k in 2023
11:40 Allen’s perspective on short term vs. mid term rentals
14:55 Allen’s success with around 20 listings on Furnished Finder
16:15 About 40-50% of Hospy Homes MTR bookings come from Furnished Finder
17:40 Hospy Homes experience with studio to 3 bedroom homes
19:25 What Furnished Finder has learned about tenant communication
23:35 Hospy Homes takes a damage waiver of $150 rather than a deposit
29:50 How Allen scaled to 26 managed & arbitrage mid-term rentals in 5 years
31:10 Tips for partnering with arbitrage & management property owners
36:20 Allen’s complimentary mid-term rental analysis for his potential clients
38:20 Furnished Finder’s mid-term rental stats tool
39:00 Details to include in your management & arbitrage contracts
40:15 How Hospy Homes keeps their property owners informed
41:15 Building your team & standard operating procedures
42:45 Helping your team thrive & find value in their position
44:15 Networking is a huge part in expanding your mid-term rental business
48:45 How to connect with Allen, Founder of Hospy Homes
Website Links:
https://www.furnishedfinder.com/
https://www.furnishedfinder.com/stats
https://www.facebook.com/groups/furnishedfinder.travelnursehousing/
Connect with Allen, Founder of Hospy Homes:
https://www.furnishedfinder.com/members/profile?u=allen.duan
@allenduan120
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The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.