All Forum Posts by: Luke Carl

@Michael Gough. Has nothing to do with it being a short term rental -but it depends what you want out of life. My guess is you financed it as a Ramsey and now you’re trying to become a kiyosaki. Life is better over here. Come on in.

@Heather Collier. That was very long I did my best but this is just proving everyone's point that it's best to STR in Vacation only areas where people don't live

@Jon Lostetter. This is more of a global question. An appraisal on a Single Family Home or anything with less than 5 doors does NOT take rental income into consideration. It’s not even legal.

I’d need to know why you’re asking this question. But if I may.... this is a VERY hot market in a VERY hot climate. You can get 10% down with the lowest interest in history. If purchase prices cool off.... interest rates will go up.

IF you can find one you like.... I would NOT hesitate taking advantage of these mortgage terms. 

@Samarth Patel

Yup. You’ll want to do it yourself -it’s easy. I “self manage” 25 doors in 3 states and I’m a moron.

Read through this forum there are countless threads on this topic.

@Mike De Lota

Only reason it would matter is if you have a DTI issue. Then they would require 2 years tax returns because you don't have a lease on the property.

Otherwise refinance away. There’s no reason for the bank to even know it’s an “airbnb” -even if you do a second home loan. The “second home rider” as of March 2018 allows Airbnb with a second home loan. Which means as low as 10% down and the best interest rates around. You just can’t put a lease on it. And therein lies your dilemma.

@Scott Tucker someone asked this question just a few days ago.

I do a tree and that’s about it. One of my cleaners does some wreaths without my asking.

Guests expect something. No one has ever said “I wish there was more Christmas stuff” about mine.

I have had ONE person leave in the review they were basically offended by the tree.

@Paul Sandhu But he’s so good looking!

@Charlotte Chew sounds like you’re taking about arbitrage. Highly frowned upon around here. Read through this forum for TONS of knowledge

@Charlotte Chew

Hey! the fact that you’re asking this on a Saturday night means you’re perfect for this business because I’m dealing with a toilet leaking to the floor below at one and a guest complaining they don’t have enough toilet paper at another in different states!

The website you’re looking for is airdna. But its not as good as the enemy method.

My app won’t let me link

https://www.biggerpockets.com/forums/530/topics/818478-determine-how-much-an-str-will-make-using-the-enemy-method

@Chris Bluem this question is asked here so often I didn’t even read the question. Just read the forum and you shall find :)