All Forum Posts by: Jody Powell

@Emily M. Wow, doubling down on the rudeness and name-calling--interesting approach to making business connections. Good luck with that--you are going to need it. 

@Emily M. No need to be so rude, @Michael Pittman probably go the same email I did about this thread: 

Keyword Alert

MEMBERS ARE TALKING ABOUT SPRINGFIELD ILLINOIS

If you want people to help you, perhaps you should allow for a misunderstanding during communications and just roll with it. 

A simple, "Oh, I meant Jacksonville, FL" would have been a much better response, showing civility and care for other members here on BP. 

After reading your replies here, I would not want to do business with you and I assume that is true of others. 

Lets keep it civil, shall we?

Our rental house needs the deck stained and I realized that my lease does not spell out how to handle this situation: Our tenants have been in the house for a year and a half now and a lot of stuff has accumulated on the large deck. How do you deal with asking (or telling?) the tenant they will need to clear the deck for this? Maybe I am overthinking this...

As much as I admire Elon (I would love to own a Tesla and am a fanboy of SpaceX), this is just more marketing hype. Solar shingles have been around for years, and the "infinity warranty" is for the tiles as roofing, not the tiles as energy producing modules. That said, I love that his marketing keeps us talking about solar. One day...

Originally posted by @Derrick Aragon:

@Jody Powell first tech is the only one i know of that does heloc on investment properties. Bend is out of my wheel house for construction 95K seem pretty good. 

 Thanks Derrick, I will be looking into them.

Originally posted by @Josh Garner:

For whatever it's worth, I got a bid last year from a contractor for a 450-sf 2-car garage, with apartment dwelling on top (my neighborhood is near Spork and Backporch Coffee). The entire ADU estimate cost, including permits was for $95k. Everybody's doing it:)

 Did you end up building it? Our rental is just a few blocks from there. 

I am in Bend, and the ADU would be on the investment home.

My wife and I own a rental property that currently has about $200k equity. We are considering pulling equity (HELOC) and adding an accessory dwelling unit in the back yard. Our reasons for going this route include that prices in our area are really high. The rental market is strong because of a housing shortage and the neighborhood has seen a boom of ADU's since the city allowed any SFR zoned property to have them. This added with a new 4 year university just a mile away all seem to suggest that our property id bring under utilized. Having no experience in HELOC's nor building, I was hoping BP might have some suggestions for things to look out for in both areas. We are meeting with a credit union today to discuss credit. I also have a meeting with a fellow BP user who is a contractor set for next week.

@Ian Saingarm I look forward to meeting on the 12th. AFAIK, our garage conversion was also unpermitted, however no one really brought it up other than needing to remove the stove. It was a bit of a concern at first, but it didn't cause us any issues and the city issued our STR permit without any questions.

@Dmitriy Fomichenko We added an umbrella to our homeowners insurance that covers the STR and our LTR. And I didn't really do a cost analysis against other options. It is on my to do list, thanks for the reminder!

Originally posted by @Gerard Lester:

Hi Jody,

We can discuss further offline if you like, as I only have a minute right now, but what I am referring to is how to fine tune what is known as "yield management." Pricing algorithms should take into account a large number of factors that include the basic booking curve of any general city or region, holidays when traffic is normally heavy, times of day when guests usually book, historical pricing for any specific unit, etc. When you successfully sift the data, you will be able to approach the market value for your home on any given day, and even slice that up into smaller time increments. Hotels and airlines have been successful with this kind of technology for some time now. I will caution you there are a lot of services that claim they will offer yield management, but are really only dealing with advertised rates, not booked rates. Again, hit me up offline if you would like more discussion.

That is an interesting concept and I will send you a PM to discuss further. It seems to me that it might not be cost effective for my single, low cost STR. That being said, I am always up for education and exploring options. Thanks