All Forum Posts by: Dewayne Perry
Dewayne Perry has started 2 posts and replied 15 times.
Post: Most reliable electronic locks for STR

- Posts 15
- Votes 13
The Schlage encode connects directly to WiFi. There’s not a version that connects to a hub.
Post: Most reliable electronic locks for STR

- Posts 15
- Votes 13
Quote from @Josh Carpenter:
Quote from @Dewayne Perry:
... I also connect it with RemoteLock...
Thanks for this tip @Dewayne Perry! How much does RemoteLock cost? The website makes you contact sales, so I'm guessing it might not be feasible for a single unit.
It’s so annoying when a website doesn’t list the price publicly. It’s definitely feasible even for just one unit. I think I pay something like $6 a month per lock.
Post: Most reliable electronic locks for STR

- Posts 15
- Votes 13
Quote from @Lisa Graesser:
Schlage encode, we use lithium batteries which makes a huge difference for time between needing to change the battteries.
Batteries change between Sept-Nov '23 and all locks read at 100% today. I have read from other that if you are near the ocean the salt air can affect the lock.
To be honest that actually sounds concerning. Is it really the case that not even 1% of the batteries have been used? Or more likely that the device is not able to read the life of the battery?
Post: Most reliable electronic locks for STR

- Posts 15
- Votes 13
I use the Schlage Encode for the exact scenarios you mentioned. I also connect it with RemoteLock so anytime a guest makes a reservation, a door code is automatically created for them equal to the last four of their phone number. The cleaners and handyman have their own door code as well and I make sure their door code is invalid between the hours of 10pm-5am, just as a sanity check sense there's no reason for them to access the property at that time.
Post: King County, Washington non-judicial foreclosure auction sales

- Posts 15
- Votes 13
Quote from @Jack B.:
Tagged because I'm curious too.
Did you ever find out where the non judicial foreclosure auctions are held and where to find the properties being listed in the auction?
Post: Cash Flow Positive Properties in Ski Resorts Towns

- Posts 15
- Votes 13
Quote from @Craig Jones:
Tahoe. 5+ bed SFH's cash flow pretty well. Lots of demand from grandma and grandpa who want a place that can fit kids /w spouses + grandkids, or multiple families that want to stay together. And limited supply of STRs this size.
It's an attractive market because the Jun - Aug summer season is just as big as ski season. Nov 1 - Christmas and April / May are the only real "low" seasons. A well-located / well-appointed property can get $1000+ ADR at 70% occupancy on an annual basis.
Deep pockets required though, property prices are high. Most properties that size are 2nd homes and often sell with furniture included, which can reduce start-up costs.
No cap on STR permits in Washoe County on the Nevada side. And Placer County on the California side hasn't hit it's cap of 3900 permits yet.
Where in Tahoe can someone average $1K a night with 70% occupancy. I checked out Reno since you mentioned Washoe county and it seemed like the 5br’s were going for about $800 a night but only on the weekends. For the weekdays it was half that or less. This was for mid March.
I need an attorney to draw up loan docs for a PML. I don’t have a deal setup right now, I just need an attorney for when the time comes. But I’d also like to ask some questions about what my options are and what to be aware of for lending money in Washington state.
Looking to lend on a value add project for a detached residential home either single family or four plex. Ten month term, no prepayment penalty, three months of deferred interest, first or second position
Can anyone recommend a PML attorney in Washington?
Post: What ratios to look at for loaning private money? LTV, LTC?

- Posts 15
- Votes 13
Thanks Erick and Jeff, that answers my question perfectly!
Post: Private Money Tips Requested

- Posts 15
- Votes 13
Quote from @Chris Seveney:
Quote from @George Ramsay:
Hi Chris,
Ive done some basic private lending over the years. Ive always had borrowers make their payments directly to my LLC. Why are you looking for a servicing company?
Just wondering...
Oh servicer is so much easier and you can charge the borrower the servicing costs.
Need some servicing companies let me know can send some your way
Can you recommend some for someone with very low volume?