All Forum Posts by: Lucas Milburn

Does anyone have experience or know of a good property manager in Venice Florida?

yes do you know anything about how that works

I don't have cable, but do have hulu, netflix... I have had one complaint and make sure to make it known on my listing.  My place is in Lake Tahoe so your going there to go outside, maybe other areas may need it.  You can also add an antenna possibly and have local channels for fee..

I can not speak to the LLC but I use PenFed for a HELOC on a STR. I am not W2, i am self employeed and have a couple different LLC's which is fun during underwriting but other than supplying documentation it was fine.

I have a couple vacation rental properties that do pretty well and like the Vacation Rental model.  I am looking into Multi-Family units in tourist areas and I havent found much commentary on Multi Family Vacation Rental deals.  Does anyone out there invest in this part of the market? 

I have never bought multi-family and have been doing research to understand things to consider and was curious what others in the same space have come across.

Can you buy a multi family and then break it up into individual units, with the intent to sell for more per unit then you pay and budget so that you keep one/two units that is paid for by the sale of the others?  I imagine to do something like this, if it were worthwhile, would require quite a bit more paperwork...

@Jason DiClemente

I like this idea. Thanks for the input.

I have a rental property about to go on the market and we have propane tanks and not sure how to structure the payment of this.  We will be providing the new tenant with full tanks because we are changing providers so not sure how to do this other than build in the cost of the fuel into the rent charged but then you could have renters cranking the hear because they don't pay for it...

Any thoughts?

I currently have 3 vacation STR properties (1SFH, 1TH, 1Condo) with a 4th (condo) in the works, all in tourist areas. I really like the STR model for a couple reasons but primarily that I feel like I can get as much if not more revenue and less wear and tear on the property. Separately I have 3 flips (2 fix/flip, 1 resell) under my belt, that went well. I am looking to build a real estate model that is diverse in the types of properties. I prefer to buy and hold but will take on flips that are a good deal to increase capital. I am really interested in Multi-Family units but don't have any experience in evaluating these deals. There are a couple I am looking at in a vacation area that I would like to use them all for STR but may mix in some long term tenants to help with cash flow during the off-season. Additionally, I would like to establish some Long term rentals in non vacation areas, SFH or MFH. Wanted to see if other BP members are using a similar tactic in any of their investments and based on this info what other members thoughts are on the matter.

Thanks for any and all opinions.

Just signed up for BP Pro and am curious what other BP Pro members have to say about the Pro Perks offers and the companies/services behind those offers on the BP Pro Perks area.  Or do you have better recommendations that you have come across?  

I thought this thread may be good for other new Pro members and help me personally.

All thoughts are welcomed.  Trying to gain knowledge and perspective.

Thanks

@George Blower

Awesome thank you for helping with a foundation of knowledge. I am going to go out and build in this info. Thanks so much.