All Forum Posts by: Cheryl Vargas

@Joe S.

Oh, so I had the wrong info. They aren’t as cheap as I had thought.

Good to know!

@Joe S.

Wow! I guess I should write a book!

I got all my info from reading BP for free, tho, so I might as well contribute something back to the community. Good to know that I have contributed!

@Patrick McGrath

What bank did you use?

@Toli Mechner

I sent you a PM

@Nathan Raisbeck

Teens should only get a degree if they are focused on what they want to do. College is hella expensive, and if you don’t want to have $20k to $50k in debt upon graduating, without a certain job to pay it off, best to work for a while while deciding what you want to focus on, then go to college in a couple of years. Or start at your local junior college while you are deciding. Way less expensive that way!

A great book to read about this subject is

Quit Like a Millionaire

By Christy Shin

She talks about how she made her decision in what to major in. Very insightful!

@Toli Mechner

Hi Toli

There is a zoom meeting tomorrow from 6-7 pm. PM me for more info.

@Lance Castillo

Hi Lance

I’d love to join your mastermind!

I have done one flip with a partner, I had an Airbnb rental arbitrage in Northern CA, and looking to buy a long term rental in Florida soon.

@Joe S.

There are so many options for short term rentals.

Airbnb /VRBO daily rentals

Month to month corporate rentals

Traveling nurse with 3 month rentals.

Airbnb is by far the easiest, since all the marketing is done in their website. You only need to set up your listing, then find your cleaner and ask if they can stock the house with supplies when they clean. You can easily self-manage with the airbnb app. With 1 rental, it is very easy to have a full time job and text to guests and the cleaner, and an occasional text to the handyman.

No one has mentioned Guesty, yet.

That is a service that handles all the guest requests and conversations so you don’t have to. They charge 3%, but you have to have 4 or 5 rentals before you can work with them. Just shows that when you have 3 rentals and under, it is doable to manage them yourself.

Airbnb also has a space for saving responses to send to guests, so when they ask things, you choose a saved response, and if the app doesn’t let you save all the typical responses, use google docs to save the typical responses, so you just copy and paste for all the guest questions.

@Tyler Gibson

That’s great to hear that Orlando has lower inventory than rental demand and the potential for rents to increase in a downturn.

Thank you for the insights!

@Jay Hinrichs

It’s good that you brought in the perspective of credit availability in the last downturn. Everyone in this post is talking about a house hack being a good investment to buy now, since the house hacker has to live somewhere.

But I am looking at buying a rental out of state now, which is a completely different situation, and applies to the credit availability perspective that you have brought up.

Is now a good time to buy for a non- house hack out of state? I would be buying a property that cash flows now, but what chance is there of market rental rates falling in a high population influx city such as Orlando during a downturn and my property not cash flowing anymore?