All Forum Posts by: Dennis Nikolaev

I'm new to the short term rental game.
I signed a contract with a management company but somehow I didn't catch that they were going to release the funds only after the guests check out + 15 days next month.

Is is normal? It doesn't sit well with me that they hold all of the cash. If they go belly up. there goes all my cash. That gives them way more leverage over me then I'm comfortable.

Should I find a new manager?

@Basit Siddiqi, @Gregg Watkins

@Gregg Watkins

@Gregg Watkins

@Anthony Dooley Yes, I agree that you cant be just terrified of frivolous lawsuits. if I know that real losses come from negligence. it makes the legal environment easier to navigate, rather than blindly following what's written on the wall.

What may be a reason to hide my name behind Land Trust and LLC? (Given, I didn't steal the funds in any way and not running for any public office)

@Bruce Woodruff WOW. This is the first time I hear about this trick. So the property should be held in LLC already by the seller.
That makes it all worth it. The smaller tax should cover the annual cost of LLC!

@Gregg Watkins it looks like I'd have to pay the annual tax AND a liability insurance. Right?

@Anthony Dooley

Good to hear. You say that California LLC is just complicating things.

Yes, I listen too much to LLC being a liability barrier. Perhaps just liability insurance should do.

I'm dumping my 6 condo portfolio for a single STR property in California.

Would you recommend setting up a California LLC?

Dennis

I'm about to buy an STR (Airbnb) just outside San Diego. I believe it is a good idea to set up an LLC for that property (as there are many people going through, slip&falls may happen more often).
If I plan to close this December, what is good timing to be setting up an LLC?

What is a good way to do it? I assume it should be a California LLC?

Dennis

Awesome @Bob Okenwa

I am trying to find the 3 highest-grossing agent teams in San Diego (mission valley, el Cajon, Santee).

What is a reliable way to go about it? (I am not looking for recommendations/self-introductions, I m looking for a source of statistical info).

I went to Zillow but it gave me 25 pages of agents without letting me sort it. Any other ways to see the number of recent sales by an agent?

Dennis