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All Forum Posts by: Denver McClure

Denver McClure has started 1 posts and replied 521 times.

Post: Help with Airbnb start up budget

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hi @Maritza McKinney, happy to chat sometime. I own a few STRs and I definitely recommend planning out your expenses carefully before starting construction. Feel free to PM me anytime.

Post: Analyzing Cash Flow Pre- or Post-Tax

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

@Felix Piper I don't recommend factoring in mortgage interest or depreciation on cash flow. Yes, you should factor in tax as a monthly expense to understand the true cost of the property each month. I would also add in a 20%-30% budget (on rents) for vacancy, CapEx, and repairs. Last thing I would ask is wether or not you are hiring a property manager which will run around 10% per month.

Post: Advisor for selling primary and investment properties

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey @David Napier, happy to help! I'll PM you so we can chat sometime. 

Post: What to do with my money

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey @Dan Grove, I would lean toward multifamily (2-4 units) as a good starting point. Take your time to develop a strategy that works for you before you jump on into RE investing. House Hacking, STRs, MTRs, Buy and Hold, Flips, etc...all require a unique strategy depending on your goals, finances, loan options, experience, and location. I'd recommend speaking with experienced investors first before entering the market. 

Post: Looking for creating financing options

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Christian! I'm curious if you've considered investing outside of Madisonville? While I do understand the desire to invest close to home, it might be more advantageous to invest in other markets and leverage property management to oversee your rental. You might be able to achieve much higher cash flow somewhere else.

As for leveraging your personal home with a HELOC or cash out, you'll want to factor in that financing cost (and higher interest rate) into the purchase of your rental. It really depends on your current mortgage interest rate and equity position in your home to understand whether or not it's a good idea to use either option. Might recommend a margin loan if you have the ability to leverage a taxable investment portfolio. Feel free to PM me if you want to toss around ideas.

Post: 6months booking request on airbnb

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Ann, I would use keycheck.com to screen the tenants (background and credit check), and facilitate rent payments, security deposits, pet fees, etc. They are the preferred platform from furnished finder. I've had a great experience with it so far! As far as a lease, they can create one for you or you can just utilize the BP leases.

Post: Cost segregation in Atlanta

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Roger, reach out to @Jeff Nash, he has plenty of experience running cost segregations. 

Post: New Investor Looking for a CPA !

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Christian, I'd reach out to @Jeff Nash. He has plenty of experience with real estate investors with both small and large portfolios.

Post: J Vasquez has me ready to rent my car! Any thoughts on logistics?

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Nicole! I rented out my spare vehicle for 2+ years on Turo, glad to see you're trying to maximize your income streams as well!

Once you lock in a MTR lease, I would offer the car rental option for a certain number of days (5 for example) following the signing. If after 5 days they don't request the car rental, then you should feel comfortable posting it on Turo for the general public to book. You can always inform your tenants of vacancies so they can book the car between public bookings. I would just recommend that you only allow tenants to book via Turo to ensure you have the proper insurance coverage. 

Post: interesting tax issue

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 561
  • Votes 449

Hey Pat, I'd recommend reaching out to @Jeff Nash. He should be able to help!