All Forum Posts by: Conner Olsen

Quote from @Conner Olsen:

Quote from @Anthony Freeman:

How often do you require a home warranty on your purchases?

Never

 Not concerned about their being unreported/undiscovered expenses?

How often do you require a home warranty on your purchases?

Hello I am looking for advice on how to best finance the down payment of our new permanent residence we are shopping for. We plan to rent our current house and use it as our 1st rental investment. We have 70% of a new 20% down payment saved for our new home and $100k in equity from the house we live in now we could potentially use. Given interest rates are above 7%, What do you recommend the best way to finance our new home would be? I get a little confused on the pros & cons of the varios options (save & use all the down payment in cash, vs HELOC vs home line of credit). Thank you for your advice!

Hello Everyone,

I have a few single family properties in East Nashville rented with a typical annual lease and I'm trying to decide on whether to try the Medium Term Rental strategy.  Under the current regulations I don't qualify for a Short Term Rental permit so before I have the high costs of furnishing a property I was wondering if any of you guys have made the switch from annual to medium term and could share some insights.  I have listened to a couple of podcasts that show medium term option to be much more profitable, but those podcasts were not specific to Nashville.  I'd love to hear your opinion.  

Thanks so much 

Chris 

Quote from @Colleen F.:

@Don Konipol  so it wasn't the year round unit that made the major difference in your profit, I was only asking given the seasonal aspects in Phoenix. Although I hear often that in midterm even in Phoenix there are still summer renters.   A smart move to furnish them because I think half the turnover wear and tear on a mid term unit comes from all that furniture moving. Condo not being loan able that's interesting, too many rental units I suppose.

Sounds like it was a great move for you. 

Back in 2012 housing prices in Phoenix, Vegas, and Miami which peaked in 2008 fell 40% or more.  I picked up a condo that the buyer in2007 has paid $100k non refundable and walker away from the $100k with a $1.28 million contract price for $505k cash.  The others were all smaller  and less luxurious and had actually sold in the $500k to 550k range previously.  I bought those for $153k - $175k .  Sold for 2 x to 2.5x what I paid, they’re risen significantly since.  

I just renewed my property on the website and I am wondering what everyone is thinking these days? 

I have gotten about 30% from them and 70% from Airbnb. So I want to keep it going but not sure how much longer it's gonna be viable for my properties. 

My wife and own some MTR's in the Winston Salem area. We've had a lot of success and I got my RE license to help with our own investment and also help others replicate what we've done in Winston Salem. 

I've had a good number of people reach out and ask if we can manage MTR's for them. What are good management fee structures you've seen in the MTR world? Splitting the difference between a LTR management fee (10%) and STR fee (20-30%)? Charging 10% with an additional fee for turnovers? Curious to hear what's been working well for others, whether you manage yourself or have your properties managed by others.

Hi all - due to some changes in my HOA, I need to switch my Airbnb STR over to mid term, specifically month-to-month or anything over that. I am looking to do this by December as I'm planning on keeping my existing reservations through November, but unsure how to get traction as I can't afford to let it sit. Do you have any recommendations on how to get started?

I already switched over the minimum days on Airbnb but wondering what other channels have worked for you and what the average lead time is for mid term reservations. 

Hello!

I am currently looking to buy my first house and turned into a house hack with a fourplex,

Anyone in Texas that can recommend me lenders to get 3% or 5% as down payment since the lenders I have talked are asking for 25% down payment.

I'm doing my research but I'll appreciate any help!

Hey there!

So I'm very willing to house hack to the extreme(ish). So I normally just sleep in my truck anyways, and all I need is a small office space and a bathroom. Can I house hack, sleep in my truck in the backyard, and utilize a tiny garage area for an office while the main house is rented out? This would still be my primary residence. Any thoughts?

Deals in California are few and far between, and I am willing to do any means necessary to make a house hack work.