All Forum Posts by: Chris Bluem

Hi! How have you all gotten around DTI without a formal lease in place. I am looking to purchase a property, I have purchased 2 this year that are now STRs, so I don't have a 12mo lease in place and I don't have a years of schedule E taxes?

Anyway around this huddle? Thanks! Also looking for great flexible lenders if you have recommendations as I would like to build a relationship with one (I am in FL).

Thanks for the feedback. @Kerry Baird what other investment HELOC lenders did you find? I saw TD bank offers one but that was the only other I found. I liked that they went up to 80%LTV on primary and investment refis and also had the investment HELOC option. But it sounds like its a terrible experience.

@Nick Belsky I am in South Florida.

Hi! I. Thinking about refinancing my property with PenFed. I'm looking to build a relationship with a investor friendly lender. They seem to have good products, good LTV, and good rates/fees.

Has anyone worked with them and what was your experience?

Thanks!

Make sure your account did not disconnect (menu > VRBO > Account). Also the steps in the EXACT order of the instruction link above. Lastly, I still had to then go in YP and Block dates again (say two months out to end of 2022), for them to show as blocked on VRBO. So I think it only add past listings, but does not sync the future calendar. So I had to reblock it. After that, all my changes show up. FINALLY.

Hi!

My Your Porter got disconnected from my VRBO account recently, and now when I go to add it back, it tells me my VRBO “account is locked”.

But I can sign into VRBO, I changed my password, and still no luck.

YP said that it could be that I was not on a recognized device, but I tried three different devices an no luck. They said to contact VRBO.

Anyone have this issue or know a trick?

Thanks!

Thank you both! I will give those folks a call and see where it goes!

Nope, I am still technically looking for my primary, but have a bunch of my capital tied up in this investment home so looking to access it.

Hi,

I have a few investment properties, one having the majority of the equity, and I am looking to understand what you all would do in this situation, thank you!

The property is worth $500K and current loan is $284K. I purchased in Jan 2021, so I would not be able to refinance until the loan seasons in July (pretty sure)

From what I read you can get a HELOC for up to 80% LTV - so $116K. Plus I was thinking maybe they would let me put my other properties on the same HELOC to unlock the the 5% equity available on each of them (2 properties that are 75% leveraged currently).

Or, do we wait till July and refinance, but only getting 75% LTV or $91K on the main house.

Just trying to think through this to best position us to purchase our next investments. Thank you!

I am looking to get a HELOC on an investment property, I reached out to Tropical Financial Credit Union but they do not offer it on investment properties.

Any bank / credit union recommendations for HELOC (or investment lending in general)?

Thanks in advance!

@Mark Miles

@Jon Crosby

Thank you both for the insights!!!

Hi BP!

We went live with our first two properties yesterday and have bookings in November already. Excited to start on this journey!

I had a few questions.

1) I have seen post about lease agreements, and how some host send a lease agreement to every guest to sign. Why is that? Is it required or does it just give you better rights? If you do it, how have you automated the process?

2) automated messaging. I’ve read a lot about automated messaging, but curious what your cadence/messaging is if you would not mind sharing here or privately? I have outlined the following and want to make sure I am not missing anything. Booking, check in (2 days before check in), follow up (24 hrs after), check out / thank you / review (day of checkout)

3) cleaners list. I have put a primarily list together but want to see if you all mind sharing as I’m sure I am missing a chunk of items

4) min stay. Do you change your min stay during the week (say normally 3 nights, but Monday - We’d you make it 2 nights to try and fill up the calendar)

Thanks in advance!