All Forum Posts by: Asury Johnson

@Christopher Lewis my husband walked away from his military career after 15 yrs in December. People thought he was crazy because he walked away with no retirement pension or benefits. The security of the military did help us fund the start up of our business and all the military training he previously had helped him create systems to how we manage our business. He felt that the security and commitment of the military was holding him back from reaching his full potential. Plus, his heart wasn't in it anymore. The common person is scared of taking risks and will often put doubt in your head. Stick to what you're passionate about.

Thanks guys! This is really great feedback. I was on the fence about making these changes so thankfully I haven't committed. We do have the Ring cameras at all the properties. However, we still have guests try to check in early and check out late. My hvac guy did mention there being a variety of thermostats that allow range lock, I just couldn't remember which ones. Also, when we first started we did try a smart lock and yes, it was a failure. I believe it was Kevo? We did have a lock box as well, and so many people were misplacing keys or locking themselves out. Now, we have the regular keypads with a back up key in a lock box on the back door. 

Hey guys! My husband and I are prepping our 8th STR. We have been hosting for almost 2 yrs and love it. When we started we had a small budget and couldn't go all out with the fancy amenities. We have made lots of updates since we started. This once we wanted to try the Nest thermostat and August smart lock. We have a WiFi thermostat on our other ones, but it is locked because we learned the hard way that guests will leave heat/air on blast. Our Honeywell thermostat doesn't allow us to set a parameter of temp that it can be adjusted to manually. Guests have to text me to adjust it. I keep the homes at comfortable so I RARELY texts. Nests thermometers do allow temp parameter settings and guests can adjust it themselves. We, also, currently use a keypad lock and every guests gets the same code. It has manually be changed if we ever need to. The August smart lock will allow us to assign codes to guests that you set time limits to. This is perfect for those guests show up super early with no consent or check out late. Also offers a little bit more security to guests. Both of these were pretty expensive and sound fantastic, but, I want to hear if anyone's has experiences with either product. How do you like them? Thanks and sorry for lengthy post!

We've been in this situation. I've done inspections of our priorities and literally couldn't walk in rooms to inspect it. That was with plenty of notice. It's such a double standard with landlord and tenants. Tenants can neglect the home, while landlords must provide a perfect, clean home at move in and fix every problem immediately! I know, it's part of the business. We do have a clause in our contract that states our properties are to be kept. If they violate this, we give them a written notice to comply and they have 7 days to fix it. If they don't, their lease can be terminated. The notice does enough and we've never had to evict someone over this. They are very understanding once we explain why the condition of the property is important to us. Some may have never owned a home and don't know the costs of repairs, cleanings, or even city citations.

@Steve Emling we use Buildium to manage, communicate, and collect payments from tenants. Very user friendly and the customer service is great!

@Fred Thimme I would invest in a bed now to generate more bookings since you can accommodate more guests. Especially, if you charge more for extra guests. This should generate more income to purchase a washer/dryer. We buy our washer/dryers from a local reputable used appliance store. They offer a 30 warrantee and it costs us no more than $400 for a set. In the meantime I would recommend to guests a nearby laundry mat if they're staying for long periods of time.

Not true. You can shop around for lenders. We have done many sub2 deals where the seller has gone to purchase another home. We simply provide our lease agreement to show that they're coverage for the mortgage. Also, we have rented out our personal home and purchased another home wth the contingency to house A rented. It's a way to purchase a home with little to no money and fast! It gives the buyer time to refinance it, find funding, or see the it's an assumable loan. 

If it's too risky of a transaction then I would them do a lease option agreement. Sub 2 is not for everybody and can be confusing. That's why I recommended contacting a title company or attorney to break it down to both parties. 

With Sub2 she can qualify for another home loan if she can prove that she's not financially responsible for that home with a lease agreement or contract of some sort between you and her. Usually the closing docs will do. We do sub2s all the time.

@Steven C. Suarez You can always do a Subject To deal. She can deed the home to you and you take responsibility and make her mortgage payments until you can buy it outright, sell it, or refinance it under your name. I would search a real estate attorney or title company that can close on a subject to deal first.

@Spencer Dillinger we use Buildium. Very user friendly and great customer service.