All Forum Posts by: Alec McGinn

How do you go about finding prices of local house building?

Hello BP, When does it make sense to build on an empty lot for cash flow? I’m asking because there is a vacant lot next door to me and the owner tends to become tax delinquent frequently. Ideally, I’d love to obtain the property and get a duplex or 4-plex built on it. Is building favorable for cash flow?

@tyler Rasmussen That is awesome! The attraction to me for vacation rentals not only being able to use the property myself, but also my fiancée and I love hosting and it is a place we can take a lot of pride in for not only the property but the experience we can offer. What kind of cash flow do you shoot for per Home and what do you do if the property is a seasonal vacation area?

Move out of your parents house, Meet a nice girl, invest 50% of your income, and Enjoy the fruits of your labor. :)

@Tyler Rasmussen the phone app is always hit or miss for tagging people... How long does it take for you to get a property cash flowing after closing a deal? How much do you typically spend on holding expenses and what do you do to get your properties vacation ready for your customers?

Thanks for the reply! Tell me more about what an Airbnb superhost is all about. I’m intending to down the road buy a lake house 2-3hrs from where I live now and I want to manage it remotely so I can keep visitors checked in without having to travel. I am in Minnesota and I want a lake Home in the Mille lacs/brainerd lakes area. I will definitely look into these technologies and they sound like a no brainer for someone with remote short term rental property. The biggest task would be finding a handyman and a cleaning service that works on call.

That is very helpful! My biggest concern is how to give the customer a key and how to keep the property secure after they leave. I will check out Rently.

How do you folks manage your vacation rental properties as well as handle customer communication and interactions when you do not live near the property? Are there property managers that specialize in vacation rentals? Let me know your experiences!

Mike Nelson I’m referring to Rochester, MN. Aquil is referring to Rochester, NY

Randal Remon read think and grow rich by Napoleon Hill and you will learn the mindset needed to be successful and the mindsets that will destroy success. Currently, you are destroying any momentum with your whoah is me attitude. You need to 100% believe you are gonna be a success in whatever you want to obtain and cut out the limiting beliefs or you will end up nowhere. If you have all this computer knowledge why don’t you offer to work for free for a company? Find a mentor? Network? Build a website? Do anything besides feel bad for yourself