All Forum Posts by: Kenneth Garrett

@Jane Johanson

My first VRBO payout took 30 days to receive payment.  After that, for a Saturday checkin I usually receive payment on Tuesday.  I am pretty sure on there web site they tell hosts the first payout is around 30 days. 

DSCR loans very. Typically mine were 5 years. I was able to get a 30 year. Typically 25/75 loan to value. When things tighten they will go 30/70 and or 35/65.

@Sean Starkey

A few things: ownership must be in entity; LLC or other entity. Typically it's an LLC, you'll also need an operating agreement. Some loans have a prepayment penalty; I've had some where there is a 3/2/1 penalty if you refinance or sell the loan/property. 3 points the first year, 2 the second year and so on. This is lender specific. Make sure you read your docs. Other loans did not have a prepayment penalty.

@Sean Starkey

That is how I scaled by using commercial loans (DSCR). I generally paid 1% higher than other loans. I used small local banks to get my loans. If your working with a big bank, I would try a small local lender or credit union.

@Huiping S.

You have to set your expectations with the cleaning crew.  I let them know when something is not correct and give them positive feedback when they do a good job.  I meet with them at the end of each year and go over how things went and what improvements we can make.  If they forgot to show up or were late I would give them one chance after that I would replace them.  You cannot afford to have them either do a bad a job, not show up or be late.  Most of my reservations are a week at a time; check in and check out is on the same day.  Check out is 10:00 am check in is at 4:00 pm.  That’s a small window, but that’s how most hosts operate.  When you use the platforms reviews are essential.  We need 5 star reviews to help our position in guests searches.  The better reviews the more we can climb up on the search ladder.

Good Luck.

Well said Michael.

@Vincent Plant

To find these opportunities attending local REIA groups in your area is one of the best ways. There are many connections at these meetings. Remember real estate investing is a people business and networking is one of the best ways to meet with people and create opportunities.

@Jon Kelly

Private lending takes very little time.  Analyze an investment, check out the borrower and choose your investment.  Maybe an hour or so.  Let’s face it, nothing is 100% passive, but it’s a close as you can get.  

@Lynn Anthony
I agree with @Jon Kelly in regards to investing your money in projects versus being active.  Although, I differ from syndications and prefer the private lender route.  Secure your funds in other peoples projects, take the first lien position to protect your money, analyze the project as and most importantly research the individual you lend to.  Trusting in the individual is just as important as lending on project d as nd confirming it’s a good investment.  There is a new book coming out July 28 on private lending called Lend to Live: Earn Hassle-free Passive Income in Real Estate with Private Money Lending.  I think you should consider this option.

@Steven Gore

I use VRBO and Airbnb.  It is super easy to use the platforms and self manage.  PM me with any questions, but to be honest you can find almost every answer here.