All Forum Posts by: Julie Gates

 ALWAYS buy low, sell high. Generators are very expensive when natural disasters are looming. They are very cheap when no one needs them. You can set up online alerts, watch the paper, you name it.

I'm a STR property manager and owner in Savannah, GA. We have hurricanes. This is to my knowledge the second or third time a giant power outage has happened in TX, so did you learn from the last one? Natural or unnatural disasters are going to happen to all of us. These are things that I do for my STR's in case one of these happens.

1) Have a savings account - ALWAYS. It's not safe to have guests in unsafe conditions. There will be times when you have to refund and you will lose all stays for an amount of time, so be ready for it. Don't count on the government to save you.

2) Pay an electrician to wire your places for a generator to run the entire home, and do it now. This will cost you $1k-$2k/home, but you'll make it back in the first disaster when you're the only guy operating.

3) Buy a generator for each place when they are cheap, and have them ready. You will use them every few years, but you'll look like a genius being prepared.

4) If you aren't prepared to do #'s 2 and 3, revert to #1 and just expect something to happen and prepare yourself financially. You won't regret it.

I prefer short term debt as well. I was a Dave Ramsey person for several years and I use his snowball strategy to pay on my lowest loan if I have the extra money. It works well, and it feels great to see a loan coming down.

Just mark up the pricing for VRBO. I set this automatically through my property management system. If the nightly rate is $100, the guest is shown a nightly rate of $112.

Yay! I need to confirm the details, but we will go to Java Burrito on 2/16. It is free. They sell drinks and food upstairs. We will use their basement room. Please tell everyone, we are glad to have them!

Please come network and learn at our first ever event for our ladies in Savannah. The best way to learn real estate investing and find deals is to network. Please join us for this free event. There will be food and drinks available for purchase at Java Burrito, but a purchase isn't required.

Savannah is a great market for both STR's and MTR's. I'm an agent and also property manager in Savannah. Please feel free to reach out if you have any specific questions.

DO IT!!! 

My advice is to go there and see the home yourself. If there is a tenant in the home, talk to them. They will tell you the truth. You need to review the contract you signed and proceed with a court case against the property manager. This will force them to provide records of what they have been doing. No matter what, cut ties with the property manager. Never deal with anyone that lies to you, even if it's small. 

I love old homes. They were built to last. You can't get 1" all wood cabinets today. I say go for it and repair as needed. I definitely see the age of the home as an advantage, not a disadvantage.