All Forum Posts by: Benjamin Vail

I am looking to hire a good CPA that has good knowledge of real estate investments and rentals. Any advice on someone you recommend? TIA

I am interested in meeting up with Austin area investors and Realtors. I am a broker in Ohio, live in Austin, and have loads of experience in Airbnb, STR, BRRR, fix-and-flips. Hit me up!

HI @Brin Dillon We would be happy to help you. Our team manages over 100 short term rentals in Columbus, and we can help you find the right property, and manage it for you as a short term rental. Shoot me a message if we can help!

@Luke Carl is everything ok??!! 

I have had Airbnb shut down an account of ours 2 times now for investigation. Luckily, both times they eventually sided with us. I have had them shut down a specific listing (due to low ratings), and we just reposted it as a new listing without any issues (it actually performs much better now because it is a new listing). That makes me think that just creating a new Airbnb account would be easy if one needed to do that (and no IP address block). 

If there are any hosts that have multiple listings, you should try to get a pro-host representative. This is an Airbnb employee that is assigned to hosts that manage lots of listings. Each time we have an issue with standard Airbnb customer support, or trust and safety, our pro-host rep has come to our rescue. 

About the profile name question. I have learned from a friend that the same ID can be used to create up to 4 Airbnb accounts. Once the account is created, and the ID is verified, you can change the name to whatever you want, like you could change your profile name to ... Luke iAMyourFather Carl. 

I hope you are ok my friend! 

We have been using the Lender Host Financial, and they do these DSCR loans. Tell Daniel at Host Financial that I recommend you!

I have increased rates, and increased minimum night stay requirements. In our urban markets, we are having lots of success with mid-term stays (a few weeks or longer). We are actually hosting 30 guests right now out of 65 units, that are staying for a month or longer. That would not have happened if we didn’t raise minimum length of stay requirements in December after the holidays. 

I am just going to leave this here from my friends at TreeWalkers: https://www.o2treehouse.com/

What does a common man like me need to do to obtain a Better Call Paul pen from @Paul Sandhu? 

Does the owner currently have financing on it? If so, consider these 2 options: 

1 Try to assume their mortgage. Some you can, some you can’t.

If not, then 

2 Make this a “subject - to” contract. “Subject-To" is a way of purchasing real estate where the real estate investor takes title to the property but the existing loan stays in the name of the seller. In other words, "Subject-To" the existing financing. The investor now controls the propertyand makes the mortgage payments on the seller's existing mortgage. Once the comps catch up, get your own financing, and finish paying off the sellers mortgage at that point. 

I understand you want to test out the revenue first. If you can get seller to pre-agree to the price then do that. Just make sure your purchase option contract language is solid. However my advice is if you already have 2 properties there, you probably understand the market well enough to go ahead and pull the trigger on purchase # 3. 

@Account Closed - Let me solve all of your problems with 2 words: Host Financial. This is a lender I have used, and am using right now. They finance the deal based only on the projected income of the property as an STR. If the AIrDNA projected income meets the DSCR of 1.2, you should be good to finance almost any deal. They do require 20% - 25% down, so save up. I am working on loan #3 and #4 with them right now. They are currently quoting at 5% interest rates, on 30 year fixed. Better than hard money, not as good as traditional financing.