All Forum Posts by: Alena Beecher-Ritchie

Thank you all for the helpful information!  The prospective tenant says they hold travel rental insurance; I'll ask for a copy and call the company to find out what it covers.  

Hello Fam, 

I own a STR mainly utilizing AIRBNB. However, I have an interest in Furnished Finders. However, FF does not offer any protection for the homeowner. How do you go about this? The prospective tenant would like to stay for 4 months. Should I require rental insurance from them?

Please let me know what your thoughts are. 

Airbnb has been much easier to use for mid-term. However, Airbnb charges a service and occupancy tax fee.   I have yet to work out the kinks in Furnished Finders.  Do you have to use a lease agreement, background check and obtain renter insurance in Furnished Finders?  This seems to be the case. And starting out, it seems cumbersome. 

@Lisa Wilson

Oh no, if the community votes against it, that could be a bad sign. It might indicate that the neighborhood is starting to decline. It's pretty telling if the community doesn't see the value in it.

Congratulations! But omg, they tried to cancel the sale 1 day before closing! That's a nightmare.  Pretty awesome that you were able to obtain the property completely after 6 weeks. 

Which part did you DIY, but in hindsight wised you hired a technician?   And did you have any major surprises since you forgo the due diligence period? 

I was in this situation a few years ago; it was the hottest 4th of July weekend (Atlanta).  Getting the right technician out there took about 7-8 days. My tenants were pissed and I don't blame them.  In hindsight, I should've provided them with a portable ac. What I ended up doing was completely waving the days without heat from the rent.  They were completely satisfied with that. 

I know better now, which is to provide probable AC right away! That will give you time to find the right technician. Win-Win. 

Mary Baggett is a rockstar agent out in Fayetteville!

She's well plugged. Give her a call 910-527-9251

Would have kept all the homes I have sold and BRRR them. I would have been so much further along financially.

I have a friend who invests in Augusta, Ga.  He has bought LTR and flipped duplexes for under 200k.  Seems to work out for him. 

Yes, you should protect your assets, you don't want to run into a situation where someone is claiming title to your property. This happened to me! An LLC formation was claiming there was a break in the title and that the property should revert back to the. Fortunately, I had title insurance (if it wasn't for my title company to resolve the issue quickly. I'm not sure how costly it would be to fight the issue in court. Title insurance is for your protection!