All Forum Posts by: Luke Carl

Don’t do it in Nashville you’re 10 years too late. Just find an area within 2 hours of you that you can buy a 100k house for 20k plus closing and rent for 1000 per months and boom you’re off and running! 

@Amy Martin first thing I would do is read This Book.

Then I’d read about arbitrage on this forum :) 

If you're buying a LTR with a signed lease you can use 75% of that rent number in favor of your DTI. If it doesn't have a lease they can do a market rent valuation during the appraisal. Method two also works for a STR. They never come back around to see if you actually put a lease on it or not.

Anyone using these two softwares together? My issue could have nothing to do with my softwares as it appears Airbnb is the problem but it's hard for me to tell. 

I have random "custom rules" on my airbnb rule-sets and I can't figure out where they're coming from. What's being pushed to airbnb by Pricelabs is not correct in SOME random cases. For instance I have 1 night min for next 60 days on a partictular property. But I look on the calendar and I see that May 4 and May 6 are 2 night min and it's because of this "Custom Rule" 

Note: YourPorter IS in Extended Connection in order to sync with Pricelabs. 

Note: This issue appears to be happening at random across all of my properties. 

I've had multiple conversation with YourPorter, Pricelabs, AND airbnb. They do nothing but point fingers at each other. Airnbnb of course I can't get a rep that even knows what software is. At this point Airbnb has started a "bug ticket" but that was days ago and I doubt I'll ever hear back. 

Anyone have this issue or know of a fix??? Thanks! (sorry for terrible pic) 

@Alan Ford I do my best to never get comfortable. I've currently got 26 doors in 4 different markets. STR (6) and LTR. I "self manage" all of them, which became easier once I hit the 25 or so door mark. It's easier to hire people and keep them busy enough to know your name.

Absolutely must get in to LTR. It's a whole different animal than what you're currently doing. Yet exactly the same. 

I find his bookings aren’t worth it. They’ll be so annoyed with all of this hoopla before they even get to the property that they aren’t likely to leave a good review. 

Just have him cancel. You put up your listing and start from scratch. No big deal. 

As for LLC in my opinion it's not worth it. Especially if financing. Just get a decent umbrella.

Sure they will. As long as you have under X number of financed properties. I think 3. 

LTV wont be as high as a primary. There are plenty of places that offer this. I've used pen fed they're ok.

@David Goodman Get you a heloc from PenFed and use it to do some BRRRRs. Can't do them in Nashville though. Look to clarksville or Memphis. 

@Paul Sandhu my oldest hvac is 22 maybe 23 years old and still cranking. I have two in that age range. Most of them are 5 years old or less. I’m a fan of replacing. 

@Paul Sandhu I put in a work order with tenant cloud or text my guy in the mountains depending on which market I’m dealing with and pay them when it’s done. Cost of doing business. I trust my guys and don’t ask questions other than “how much and how old is it”

If the unit is more than 8 years old and less than say 12 and the repair is under $700 I might fix it. If it’s over $800 I’ll probably replace it. Over $800 and over 12 is a firm replacement.