All Forum Posts by: Justin R McCullers

This is really good info Michael Evans.  I wish I knew that knowledge of Booking.com beforehand.  I love all the info you have of $1,000 deposit and impose an age of 30.  We had the maximum number of guests, no parties, etc... in place with cameras set up.  But the people staying used a fraudulent credit card and possibly had a police scanner because when we called the cops everyone left.  They came back after the cops left.  They never answered their phones when we texted.

If I did it again, I would completely avoid booking.com and make sure I spoke directly to the tenant before they checked in.

We actually had a "professional" property manager hosting the rental.  I own 15 long term rentals as well, all through a property manager, but they do not do short term so we used another company.  It looks like Booking.com is the culprit.  Unlike AirBnB, they do not have as much contact with the tenants, and the owner can not rank the tenants like you can on AirBnB.  The people that have been kicked off AirBnB are going to Booking.com it seems like.

I am using a different property manager on a 4 plex that we made a short term rental on the bottom units, and a long term on the second floor.  It is in a different area of town and that property manager does not use Booking.com, and so far it has done better but I am only a couple months in.

I am married, so I am a little worried if I hold the Jax Beach house, it has to be "forever" or much longer than 5 years because I will be giving up the capital gains.  I am about 5 months out of that home at the moment.

Really appreciate the feedback.  I paid $118k for it back in May of 2012, so I am not sure how that will affect the taxes and the portability.  I would like to have a larger emergency fund, however I am still struggling with selling it, only because I really like the Beach.  

Short Term rental is even more out of the question, as the last renters just came back as a fraudulent payment as well (2 in a row).  Wondering how often this happens to other short term renters as I didn't see many people talk about that on all the videos I watched and articles I read.  But it is what it is, as I need to focus on what to do moving forward.

Thank you Kevin!

I have a home at the beach and I was trying to short term rent it and have not been having a good experience. The market seems far more saturated now for STR, and all the renters have been partying and over occupying the home. I have had to get cops involved twice and the ring doorbell showed what looked to be drug deals going on all night during the last occupancy. I know my neighbors as I lived there 10 years and I don't want to do this to them.

  My question is, the home is paid off and in a desirable area.  I could rent it for $3,000 a month or put it up for sale.  A few months ago I think I would have gotten $600,000 but now after the last rate hike I am worried about selling it.  I think I would get (hopefully) $550,000 but I am worried it may sit or I get low ball offers with everything going on.  I don't "need" the money right now so should I sell or hold?  If I sold, I would put half towards my current principle and the rest on stand by for future deals.  If I hold, I would just the cash flow for monthly expenses.  Thank you and look forward to your feedback!

Does anyone have a recommendation on a property management company that will manage "rent by the room" in Jacksonville, Florida?  I asked my current property manager, and they said that wasn't something they did as it didn't fit into their lease agreement.

Does anyone have a Painter they would recommend in the Jacksonville, FL area?

Thank you Justin Silvero, that is very informative.  I am going to get this rolling.  I think just getting in the game, is the biggest thing.  I am in a fairly competitive market, so I like the idea of niche marketing.  The riches are in the niches!

Robert Wilson, I heard the Tom Krol Podcast, and that was got me motivated to "Rhino" in some deals! Hahaha, I am going to listen to it again today and will check out the Michael Quarels one as well.

I appreciate the tip.  I will read the article, thank you sir!