All Forum Posts by: Belinda Lopez

We just bought two AirBNB/short-term rentals and love it!  I live in Galveston full-time so it just made sense from an investing point.  The model is incredible.  We've got $30k in pre-bookings and took in over $10k in our first two months!  Now we just have to find more properties.  

We're going to start partnering on more properties now that we understand the business model better.  The pre-bookings are a great indicator of activity and even if they cancel, we are guaranteed 50% of the fee.  Guests have to pay in full when they book through AirBNB or other service so we know AirBNB is making a killing off the interest on fees they are holding in escrow.  Funds are released to owners/hosts the morning after the guests check-in.  I love seeing those notices from my bank of pending direct deposits!

I agree!  The area from 25th North was the 2nd highest neighborhoods in terms of appreciation. Prices are rising quickly and it's getting harder and harder to find homes that haven't already been rehabbed.  I tell folks Galveston does well in any economy b/c of its proximity to Houston.  When the economy is down, upper and middle income folks curtail long distance travel and vacation here.  When the economy is great, lower incomes who could only afford day trips can now afford to stay overnight or for a few days.  

We have everything from beachfront and bayside tent camping to multi-million dollar beachfront mansions and everything in between.  Plus, the Chamber and City have done a great job of filling the convention schedule with tons of off-season events to keep hotels busy in the winter.  We've purchased and are now running two AirBNB properties and have over $30k in pre-bookings and we've only had them for less than two months!  We've already taken in over $10k so I'd say it's a solid business model.  Can't make that cash flow from monthly rentals.

The Realty Investment Club of Houston (RICH) is moving!  To help celebrate our move and to reduce the amount of stuff we have to move, we're holding a special investor garage sale/trade show and networking event.  In exchange for donations to the Houston SPCA, you can select any two items from our library.  We also have some executive chairs, tables, supplies, and other items we'll be selling.

For the April meeting, we'll be networking, saying good bye to our old location and hello to our new Galleria area offices.  Drawings will be held for gift cards and other items all evening long.  Come help RICH as we move into our FOURTH decade as Houston's oldest, largest, friendliest real estate investing club!

Pre-register or print out a guest pass here:

https://goo.gl/Ml6yyv

Yes Mike but it also depends on the city; if the land is located within any city's limits or ETJ - extra territorial jurisdiction.  City of Galveston requires a minimum of 5 acres for RV Parks.  Tons of other rules a well.  municode.com can help with some research but message me and we can set up a call to discuss.  I've seen tons of similar projects stopped in their tracks before the first dirt could be moved because of  various restrictions.

Henry Freudenberg Insurance - call Melissa Taylor, she knows the coastal areas better than anyone I've ever talked to.  Flood and windstorm will be the same no matter where you buy from as those are set rates by the government.  Your only options are in higher deductibles and even then, not much.  You pay a premium for being on the Coast.  If I didn't have a mortgage on certain properties I would cancel flood insurance; it pays almost nothing when you have a claim.

We are doing extremely well with our two vacation rentals and I definitely want more now.  Patty, you indicated you had some problems with financing?  Why not look for owner financing?  Both of ours are owner financed; one a wrap around.

We're also not seeing as many foreclosures in either taxes or mortgages; though the tax attorney tells us he has over 3000 active lawsuits pending on properties with back taxes.  We're doing our property managing for now but have a cleaning service for the big house.

I classify parks into two categories; resort and residential.  This sounds like a residential or man camp type park.   In Texas, these parks cater to long-term residents either contract type workers during building booms and then lower income residents during other times.  John is right, you need to find out why it's empty.  What is the local population?  What are the largest employers in the area?  Is there a plant or other industry that has shut down?  If the area is growing, then it could be a good time to convert but if there's already been a bust then you'll have a hard time filling the park.

You might want to look at those things and also place some test ads in craigslists to see what the interest in the spaces would be.

Top 5 Reasons Why You Don't Need an LLC or Corp for Your Business.

With LegalZoom, Rocket Lawyer and other DYI legal document providers just a google search away; forming your LLC or corporation has never been easier. With a few clicks of a mouse and some basic information, you can register your business entity and hit the ground running.

Two top reasons for forming a business entity are personal liability protection and tax-planning considerations. But those two important benefits don't automatically appear from filing a document with the state. Many of the entities formed in the state provide no liability protection and are barely worth the cost of the paper they are printed on.

What if there were ways to get those benefits without creating a business entity? There are. What if your business entity isn't providing you the benefits you think it is? It's best to find out before you need them.

You should attend this training if:

*You are thinking about forming a business entity

*You have a business entity

*Personal Liability Protection is important to you

*You want straight talk about the law as it relates to your business.

Join attorney and investor Jaime Rocha for this important workshop that gives you the information you need to make your entity creation a breeze. Jaime is not just another pretty attorney face but a long-time investor who brings his vast knowledge to share. Fresh off his volunteer duties at this year's Rodeo, Jamie is here to answer your questions about business entities and liability protection.

FREE for paid annual RICH members,  $30 for non-members.

Pre-register here: https://goo.gl/XFOOv2

Jaime Rocha, MIke Holmes, Steve Newsome, Jerel Ehlert - all frequent speakers at the RICH Club. Jaime is speaking at our next Monday Night workshop on the topic of "The top 5 reasons you don't need an LLC to start your real estate investing."

Definitely check out Alamo REIA. They meet monthly and have great events, honest folks who will help you located the resources you need to get back into investing. As the only local chapter of NREIA they can also give you discounts and resources that no other group can including cash back at home depot and many landlord resources.

Good luck!

Have you looked into the restrictions for RV Parks in Galveston and Galveston county? There are many including a 5 acre minimum for park development. Structuring this would like any other real estate venture you can use LLPs, LLCs, trusts, combinations of all of the above. You definitely want an operating agreement with the partners and it sounds like an LLP to hold the land will work with another LLC to manage the property. The managing entity does not own any property or assets.