Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Please log in or sign up for a free account to continue.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Julian Sage

Julian Sage has started 1 posts and replied 99 times.

Post: Will water issues be the death of my rental business?

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36
Originally posted by @Julie Hassett:

@Joel Owens - Yes! One of my buildings is a converted SFH into MFH with a lovely Airbnb unit in the basement. So far in that unit, we've had leaking toilet seals, a backed up washer pipe (crushed or corrupted by roots somewhere underground) that we rerouted into the main exit pipe with a pump, a completely stopped up sink drain, and water coming through the vapor barrier causing rusting on the cracks in the vinyl floor planks. It's been a whack-a-mole situation for sure!

 Basement Airbnb's can be a big mess. I have one and manage another. Both get the occasional guest who thinks flushing wet wipes down the toilet is okay or using a whole roll of toilet paper in one sitting.

Post: Vacation Home/Short term rental

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36

Congrats and welcome to the STR Club!

Post: North Carolina Airbnb LLC

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36

Which insurance policy are you using? Do you have a short term rental policy?

Post: Where do I invest STR. Please Help

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36

We're currently investing in Miami Florida and Pensacola but i'd say just pick a market, run the numbers, make sure the regulations are good, and go from there.

Post: First time Investing

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36

I've purchased a SFH as a Airbnb Househack and have master leased vacation rental properties, but not purchased. Returns for a vacation rental can be comparable to short term rentals in urban areas but I honestly prefer urban STR's just because you can always through a long term tenant in there and still profit worst case scenario.. Just make sure you run the numbers and that the property checks out.

Post: Can Property Management Cos offer guaranteed rent?

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36
Originally posted by @Adam Martin:

We have a company locally that charges either 8.5% management or 85/month whichever is cheaper and has a guarantee they will pay any missed rent and also an eviction guarantee if they have to go through the process.  The guarantees are extra though where they are 19.99 each or 30 for both but this is still cheaper than most companies.  I don't know how good to their word they are and have never talked to them however this seems very appealing.  I currently self manage and really don't want a property manager but as I scale and need one these guys are going to be my first but not only call.  

 Master lease investing can sometimes replace the need for hiring a property manager. For example, the properties we acquire through master lease we handle things like minor maintenance and repair, yard work, and general up keep of properties. It's a way to find a quality tenant who cares about your property just as much as you as our business depends on it's attractiveness. 

Post: Long Distance Short Term Rentals

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36
Originally posted by @Luke Rorech:

@Julian Sage How do you use breezeway in your business? I've looked at it a little but have not dove in big time. 

 It's used for task management like maintenance as well as turnovers and inventory.

Post: Missoula Property Analysis

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36
Originally posted by @Keith Miller:

I have a property I'm wondering what you guys think about here in Missoula. It's 622 W. Artemos, recently listed for $348K. It's $105 per sq ft, that's well below what it currently costs to build. Then there's the view, it's high enough on the hill to look out over the whole valley. But the most appealing part of it is the lot is 18,252 sq ft, enormous for the Missoula area. It's zoned as R5.4, similar to the rest of the U district. That means that I couldn't pull off building any townhouses on the lot, but with one that large, I could theoretically fit in 3 full lots. The minimum lot size for R5.4 is 5400 sq ft. How the house is situated however, it's hard to see 3 lots that aren't super thin and crazily shaped. But one substantial lot could be easily be divided and either sold off, or just built upon. I've attached a picture showing a rough idea of how that could be done.


To get to the point, I think this could be a really easy flip. Simply buy the house, spend 2-3 months doing a boundary line relocation, then resell the house and the new lot separately. I've checked the comps, and the cheapest lot in that area is over $80K. I've already talked to my realtor that said the value of the current house would not be substantially reduced if the lot was reduced from 18K square feet to 12K. Or, better yet, make it a live-in flip while we update the house and make it beautiful, then Airbnb or rent the main house, and either sell or build on the new lot. The main drawback is the steepness of the lot. You can check the Google Street view to get a better idea of it. There would need to be a lot of excavation to create a driveway for the new lot, and steep lots are not an area of expertise of mine. But it seems like there's plenty of extra cash in this deal to pay for that. 

I'd love to hear any feedback you guys have on this, what do you all think?

 What do the numbers say it'll bring in as a short term rental?

Post: 1% rule properties in the Lake Norman, NC area

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36
Originally posted by @Andrew Merewitz:

I've looked on LKN as well. For higher returns, you'll need to do vacation rentals (1M house can rent for 100-120k/year) but they require a lot more work obviously. Vacation rental management companies here cost 20% or so, which I would need since I don't live here yet. I passed, for now, but I'm afraid home prices here are gonna keep rising and its tempting to get in now. 

Anyone know if 10% loans are available on houses in the 700-900k range? I don't have a mortgage anywhere else (renting) at the moment 

What size are the properties are you looking at?

Post: What do you wish you knew before starting a STR or AirBNB?

Julian SagePosted
  • Property Manager
  • Florida
  • Posts 104
  • Votes 36

Automate as much as possible by using the tools available to make the process easier.  

Our management company stack is: Hostfully (PMS), Smartbnb (Messaging), Breezeway (Task management), Pricelabs (Pricing), Noiseaware (Noise monitoring), Ring (Security), August (Smartlock), and Hostfully again for their digital guidebooks. That'll help you streamline everything if you plan to DIY. There's a learning curve obviously but as with anyone who is trying to save money.