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All Forum Posts by: Luke Carl

Luke Carl has started 175 posts and replied 4103 times.

Post: Short term rental property cleaners

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Steve K. 867-5309 @Paul Sandhu

Post: First STR Questions

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689
Originally posted by @Chris Bluem:

Hi BP!

We went live with our first two properties yesterday and have bookings in November already. Excited to start on this journey!

I had a few questions.

1) I have seen post about lease agreements, and how some host send a lease agreement to every guest to sign. Why is that? Is it required or does it just give you better rights? If you do it, how have you automated the process?

A rental agreement. Not a lease agreement. Do some more reading. 

2) automated messaging. I’ve read a lot about automated messaging, but curious what your cadence/messaging is if you would not mind sharing here or privately? I have outlined the following and want to make sure I am not missing anything. Booking, check in (2 days before check in), follow up (24 hrs after), check out / thank you / review (day of checkout)

Just learn from your mistakes on this. No one is going to share their messages here it's a liability. Your house is different than our houses anyway. 

3) cleaners list. I have put a primarily list together but want to see if you all mind sharing as I’m sure I am missing a chunk of items

Correct me if I'm wrong but you're asking for a list of cleaners on the world wide web and didn't even mention what town you're in? 

4) min stay. Do you change your min stay during the week (say normally 3 nights, but Monday - We’d you make it 2 nights to try and fill up the calendar)

No wrong answer. You can make changes anytime. 

Thanks in advance!

Post: Listing Legal Ownership

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Brandon Amdahl. PM unless self managed

Post: Top Places to Invest in STRs in the coming years?

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Mitchel Foster I can’t imagine South Dakota is crushing it in the world of vacations?? Mount Rushmore?

I think the answer is.... the same spots that make money every year will be the spots to be in 2021. I’m very happy in p forge and destin

Post: Another STR Nearby Or No?

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Rebecca Palmer I’m all about Buy/Cash Flow/Repeat. In fact repeat is the most important part for someone looking to get out of your W2.

A different market would get you another 10% down payment which is a huge plus do me but may not be an option for someone living over seas.

Here’s a taxonomy thought.... Why not look into a local LTR?

Post: Should i sell my home?

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Marcos Urvina. I wouldn’t worry about this at all. You’ve got to have a car and a place to live. I can’t imagine rent would be much cheaper in your area. And student loans are damn near free. Plenty of time to worry about this stuff later.

Set a goal to finish one BP podcast per weekday for the next 2 weeks. :)

Post: Should i sell my home?

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Marcos Urvina congratulations for taking the plunge into your journey! I started my real estate career with zero dollars. I’m now financially free and not quite 40.

My short answer is no. Don’t sell it. You’ve got a lot more learning to do. Also the word “debt” stood out to me. Need to know more about that.

First off.... why STR? Too many people come here thinking they've reinvented their wheel with this Airbnb thing and if they buy one house they can quit their job. It's just not gonna to happen. I've got a lot of real estate and I still have a "day job"

I think you’re the same guy that was asking about the Poconos earlier today. So you’re thinking about selling your home and investing in a market half way across the world -which never really gets mentioned on this forum so it probably doesn’t make money -with every penny you own. Unless you’re 25 and kid free I wouldn’t do this. But then again I’ve bought plenty of properties with every penny I owned.

Before you sell your house my prescription is 408 bigger pockets podcast and 10 non fiction books. Go listen to these and then come back with more questions. :) ❤️❤️

**Typed on an iPhone 

Post: Looking for STR owners in Gatlinburg or Pigeon Forge area

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Collin H. To be fair if they were any good at self managing they wouldn’t be looking for a manager in the first place.

There’s no professional manager that can come anywhere near my numbers. Although I would consider myself a professional manager that only manages properties I own.

Post: Pocono Vacation rental - Looking for property and Manager

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Mitesh Chauhan realtor.com is a great place to look for property

Post: LLC for Primary Residence rented on Airbnb?

Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
Posted
  • Rental Property Investor
  • Tennessee Florida
  • Posts 4,236
  • Votes 5,689

@Jerome Maisch nope. Insurance.