All Forum Posts by: Joe A.

Short term rentals, like Airbnbs.

Hmmm.  Probably too far to catch the Magnolia crowd with STRs.  With only 7 acres, I would say the glamping on Airbnb is a good idea.  Look into Hipcamp also.

Where exactly is it? I live in the Waco area and can give you some insight.

@Maegan Erb I use Genny Davis. She’s been in Waco her entire life and is a Baylor grad. +1 (254) 640-1936

Also, her husband is a new home builder.

@Anthony Wick My suggestion is to set the due date for rent at least 5 days before you need it to pay bills. That way it doesn’t matter if you wait the 3-5 days. Even better, make sure you have enough in reserves to cover expenses for at least the next month. That way as long as you’re consistently collecting rent, you’re good to go.

@Ronald Rohde Ain’t that the truth!

@Noelle Pritchard Barkley Sit on the money for a while as you learn. Then, find whatever type of property that interests you and manage it yourself. You’ll learn even more that way.

@Christopher Davis Correct. I obviously try to get the best cash on cash return I can, but like I said... I’m in this long-term. As long as I keep positive cash flow I’m good. I’m in a fortune enough situation where my family doesn’t need the rental income right now. So, I put every penny of that cash flow back on the loans. Also, like I mentioned, I don’t ever put down more than 50% (unless I find a good all-cash deal). That 50% is just my personal preference because I like knowing I got an investment property for at least 50% off.

@Christopher Davis I’m in Texas, and it’s similar here. The only way the numbers work for me is to put more down... up to 50% in some cases. It’s not what the “experts” tell you to do, but if it’s a long term investment and I can still get the property at least 50% off using OPM... I’m good with that.