All Forum Posts by: Evangeline Hooie

What kind of management company is it? In Florida, we have lots of mom and pop - 30 year old rental companies that don't use modern tech. I think that matters to how well they can do. Also, I have found most rental projections are far lower then I can do on my own.

HI! Walton Funding did mine! 

Got it! :) Maybe!

Hi Lisa,

I agree it has gotten harder to do but still possible. The issue is going to be if you start making bank the owner may want to take over and do themselves when your lease is over. What market are you looking in? If there was a limited amount of permits In your market it would be tough. 

I have several properties I own, several I manage, and now 1 I sublease - I am in process of more with owners who are excited about the idea. I like the idea of purchase the best but people come to me all the time and ask me to manage or rent their property - I am picky for the right spots so am choosy. 

The one I sublease I am simply paying a little higher rent with an agreement to sublease - prosper insurance offers vacation rental insurance for this exact situation - as the renter who will sublease to vacation rentals - this is a must - it’s about $700 a year for the home I am doing in Florida. The homeowner still keeps their policy obviously but this covers liability, loss of income, significant damage, etc. 

one thought is to offer owners a piece of the profit as intensive and if you are secure with the area and it’s performance - a long term lease.

Overall you will be happier buy purchasing but this is an option just harder to find people who want to do it. Start with people you know who own rentals. Make sure to get permits and pay sales tax.

will it be online at all?

Partnering together with a Vegas Investor and we are looking for partners/vendors who work on the construction side of flips.  Please send me your contact details with the services you offer and lets connect.

Hi Eugene,

Look at Slice Homeshare Insurance.  https://www.slice.is

I believe because it is your residence you wouldn't need a commercial policy, but I am not an insurance agent.  My homes that I rent fully on Airbnb I have a commercial policy.  In the past, when I rented space attached to my residence I only had residential insurance. 

If you find you need a commercial policy, I useProper Insurance - https://www.proper.insure/

Just note that you need to add Wind to their traditional policy or it wouldn't cover any wind/hurricane damage.

@Andy Thoman You will just need to set up your listing and only leave the days available that you are wanting to rent it. When first starting in Airbnb, I rented out my MIL behind my house all the time and my actual home (with all my personal things) when I would travel or be on vacation.  It worked out perfectly! You will soon be planning many more vacations ;)  I then started to let people rent my house when I was in town and I would stay in the MIL.

As far as your personal things go, there is a button you push when setting up your listing that states that you live there.  Guests will expect to see personal things in this situation.  No big deal.  I never had anyone take anything of mine. Find one room or a basement you can lock up with items that you don't want messed with or valuables and you should be good!

Also, Airbnb already requires a photo id and verifies the guests identity before they can use the platform.

Hi Johannie! I am an Airbnb host and a licensed Condo and HOA CAM Manager in Florida. Most Condos do not allow short term rentals - for the best chance I would look for older condos or if there are any vacation style condo properties.

If you find any Condos you are looking at send me the docs and I can look them over and try to best advise you.  Most Condos will still not like the fact that you are there and it could become a big pain for you.  

Thanks!

@Sam Thomas I’m looking for a more long term loan. I currently have two years left before i have to pay it back but want to lock in a good rate and make sure I have my ducks in a row, as far as what i will need to show, now to get them financed.