All Forum Posts by: Luke Carl

well this topic got way off track dudes! But I feel left out so here I am :)

I’m usually at around 65% Airbnb 35% VRBO.

MANY noobs that come into our market ONLY use Airbnb and they stay booked but it’s not a good idea and I try to tell them that.

Wait what was the question? Lol

Not only does this sound like a timeshare it sounds like an advertisement. Are you sure your name isn't Jacob Halcyon??

@Austin S. There are a number of different ways to find what you're looking for it just depends on how your brain works. 

Might I suggest if you're getting 2% on LRSs don't bother with STR. And..... where the hell are you getting 2% on LTRs so the rest of us can get in on it. :)

@Oliver Sparks first... I would not “Airbnb” in any city. You’ll get shut down sooner than later. Your neighbors will call the cops because someone is puking in the lawn at 2 am. The city will fine you. You’ll be gone in a year.

The exception would be if you have a commercially zoned building and you want to buy the whole thing and “Airbnb” it as hotel competition. But I’m the end the hotels will win. And Airbnb has and will start popping these buildings up on their own and if the hotels don’t wipe you out Airbnb will.

As far as your LLC I suppose that depends on many variables. Do you own the properties are are you starting an STR property management (PM) company? If you're looking to start a company then yes start it with an LLC and get your insurance and get your ducks in a row.

If you own the properties are they financed? Because the bank isn't going to let you finance them as an LLC unless that LLC has tax returns and DTI of its own. Are you paying cash? Then yes buy it as an LLC and self manage it with no LLC.

Lots of variables these are just a few. Typed on an iPhone. Vote button please. 

@Jeff Davidson with the amount of cash you’re going to spend on this thing you could finance 5 single families in a C class neighborhood that would make you 2500-3000 CASH per month plus equity. (Hypothetical numbers for a short conversation). That would pay for a pretty nice trip to st Augustine every month.

Really what you’re trying to do here is not much of an investment it’s really no different than buying a boat. So just buy the boat you want and as Ken said don’t over think it! I wouldn’t buy this condo but if I were you I’d buy the one with the best view!

Depends on market depends on purchase price. Get you a smart 65” from Walmart and some green tea mattresses from amazon and be on your way. 

Be warned 

1. STR friendly condos are non-warrantable.

2. Your goal with this thing will be to not lose money. 

3. You must self manage (which is easy) or you will lose money. 

@Khandbari Rai another vote for self manage

@Ken Latchers there’s a flaw in your theory. I’m not an agent and never have been.

I have two agents. Why? They’re in different cities. They are both high level producers and total rockstars. And they answer when I text. Why? Because I buy things quickly and make great offers and I make sure everyone’s happy.

The reason you’re messing around with multiple agents is because you’re nickel and diming agents that do nothing but open doors.

Neither of my agents open doors for me. They’re too busy for such small jobs.

Perhaps you're messing around with multiple agents because you've never met a rockstar agent. As with anything in life only 2% of agents are going to be rockstars. And dare I say you haven't met a rockstar agent because you are not a rockstar client. 

I’ve got 19 doors and I’m financially free at the age of 38. Thanks to my agents. I'm going to go ahead and drop the mic now and move on to people that actually want help. 

@Ken Latchers fantastic way to deal with terrible agents, not build your systems, get stuck with just a couple of properties as opposed to a couple of dozen, and be a grumpy old man.

I’m in this market but I live in TN. I have several low income properties that I won’t go to unless I have a pistol on me. I’m happy with it but it’s not for everyone. I’ve been to cayman the food is fantastic.