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All Forum Posts by: Aaron T.

Aaron T. has started 43 posts and replied 757 times.

Post: Puerto Rico- inheritance laws and forced heirship

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

I am looking to purchase a rental in Puerto Rico with another investor. I am concerned with the Puerto Rican Inheritance laws and how that could affect the purchase or long term disposition of the property if anything were to happen to one of the investors. 

anyone here have any experience in this area? 

Post: Airbnb STR Operators Mastermind Summit

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

do you have any links on this?

Post: HELOC

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Account Closed:
Originally posted by @Michael Pullins:

Myself along with my wife have recently decided to REALLY make a push to continue our investment education and purchases. We currently own a few single family homes and a condo in which we currently live in. We are considering using some of the equity (in the form of a HELOC) from one of the rentals to fund our investments but have been told that HELOC's are only done on "owner occupied" properties. We have a lot of equity, so we are wondering if there were others in the same situation? What other options are available?

MODERATOR:  REQUESTS FOR LENDERS AND MENTIONS OF SPECIFIC LENDERS NEEDS TO BE IN THE MARKETPLACE, NOT HERE.

 Hey Michael,

Skip the HELOC, go to a business banker, and get a commercial line of credit collateralized against then properties you've mentioned. Easy!

do you have more info on business bankers? i would be interested in hearing a little more.

Post: Seeking Market Knowledge in Tampa, FL

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Tampa residential is a bit over priced. I don't dabble much in the commercial space, but east tampa is on the rise and will certainly change the whole area in the next 5-10 years. 

Post: Short term rentals Airbnb. Thoughts about management company

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Ken Latchers:
Originally posted by @Aaron T.:
Originally posted by @Ken Latchers:

Stay away from evolve. 

Stay away from PMs

Manage yourself. 

Live close to your VRs. 

Make sure your VR market is strong. 

Become expert at VRs.

good advice if you don't travel often or want to free up your time to focus on other business ventures. if you want to promote yourself out of the mailroom, then look at local STR management companies.

Evolve requires you to be there on the ground. They do none of the local stuff. Problems, cleaning, stocking, maintenance, check in/out, etc etc

The 10% fee to owner does NOT include the large fee to the guests! And they don't do booking.com 

sounds like the wrong STR company then. they are trying to do LTR management with STR. I would not pay a company like this.

I pay 25% but everything is handled to include consumables. 

Post: Alternative to carpet?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

find commercial Capet. you can also use stick down carpet squares. if one gets ruined, you peal it up and put down another one. 

Post: Reviews indicative of occupancy?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

look at your competitions calendars. are they full? empty? does it line up with their reviews? its a good way to get a baseline of what they are doing. 

Post: Selecting a Rental Management Company

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

don't be afraid of putting one under management as proof of concept. if you like the company, then you can put the rest under management as well. 

Post: Short term rentals Airbnb. Thoughts about management company

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Ken Latchers:

Stay away from evolve. 

Stay away from PMs

Manage yourself. 

Live close to your VRs. 

Make sure your VR market is strong. 

Become expert at VRs.

good advice if you don't travel often or want to free up your time to focus on other business ventures. if you want to promote yourself out of the mailroom, then look at local STR management companies.

Post: Short term rentals Airbnb. Thoughts about management company

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

We just put our STRs under a management company in November. This now frees up our time to do other things in life. we are happy with it so far.