All Forum Posts by: Carl Payne

@Jean H. I didn't know about deSantis.  I will PM you!  This sounds amazing, who knew it existed.

blowing it up means bad credit, a much smaller income, and some logistical hurdles.  LTR is certainly a consideration.  A good portion of my income comes from STRs.

What a tremendous response from the BP community.  I'm trying to keep as many options open right now as possible.  I'll take all the input I can get!  

A huge thank you to those who have been kind enough to answer!!!

I forgot to mention my banking situation.  I have thin equity and my bank just got purchased and my lender left.  The new bank doesn't like STRs.  I'm very mindful of my credit situation and am trying to avoid forebearance as @Tom Makinen said I don't want to ruin my future if possible.

@Paul Sandhu, @Jon Crosby  @John Underwood I'm trying to find a new bank and work with the existing bank to see what we can work out.  Other banks have been more accomodating than my own, but new banks are conservative and asking for a lot.

@Nathan Gesner thanks for the heads up on the furnishings and going LTR.  If you were me Nathan would you sell the furnishings or put them in storage?  They are pricey furnishings.

@John Underwood, @Michael King, @Joe Garvin you input into LTR is appreciated.  Joe the lockdown until Phase 3 is an issue. @Lauren Kormylo contacting an LTR agent is on my to-do list.

@Joseph Cacciapaglia you brought up an interesting possibility regarding partnering.  I'd have to figure out how to slice up the pie, but it could certainly be done.  Do you have a strategy on how to split?

@Shane Wiley thrilled to hear some positive feedback on BNBBailout.com.  Could you explain how repayment works?

@Andrew Carlson you've extended my to-do list, but I'm so appreciative of your comment!!!  Do you have any tips on what traveling nurses are looking for?

@Avery Carl refi did cross my mind, but thin equity and a dwindling cash reserve doesn't light up the banker's eyes that I've spoken with.  Did you have any other strategies to share?

@Jon Crosbyundefined

Guest list is empty

No bookings on the horizon due to Covid-19

Have to pay my lenders or sell

I've been asking BP for options and found these:

1. 1. Sell-my income would take a major hit
2. 2. You should've saved more-we have 6 months of reserves but we're 3 months into this thing
3. 3. Find medical professionals-I've called 48 medical related businesses, they've already made their plans
4. 4. Turn into long-term rental-This is a possibility, but it may not cover everything
5. 5. BNBBailout.com-I'm trying to confirm if someone on BP has used this and liked/disliked it as I'm considering it

Is there another strategy I'm missing? 

Thank you all for your comments, but I’m looking for someone that has used this service. Or has an alternative to keep some cash flow coming in. 

I’m considering using them, but would like to hear from others in the BP community that have signed on already. 

I've been trying to figure out how to make ends meet with my AirBNB portfolio.  Empty guest lists = unhappy lenders

I was also looking into out-of-the-box ideas and stumbled onto bnbbailout.com.  I'd really like to see if anyone on BP had used them or has a positive/negative opinion? 

Does anyone else have a better AirBNB alternative?  If there's something working for you, I'm sure you'd gains some BP friends by sharing.