All Forum Posts by: Luke Carl

House FSBO on a street I own another house.

It's been gutted.

New studs, plumbing, electrical, and hvac. Nothing else. No floors kitchen etc. 

4 bed 2 bath. 2000 sq ft. 

Also pretty sure it's got asbestos siding but I have not been made aware. Pretty normal around here. 

Seller says he's got too many houses going wants it gone. 

He said he wants 125k I said no. He wants me to offer. It's worth 180-200 finished. 

I suppose finding a contractor is another story. Just poking around. 

Thanks!

Thundercrapper here. Let’s not forget the 10 LTR doors I also self manage. 

Actually I just started using igms. So I’m literally doing next to nothing with the cabins anymore. No housekeeper calendars no sending boring messages to guests like a robot. igms is now my robot. I’ve even been poking around for an additional cabin. 

@John Underwood self manages more properties than I do. He’s an excellent person to ask if he’s willing to contribute. 

It’s not too far if you’re booked! Check your neighbors on Airbnb. You can tell within 15 minutes of studying exactly how much they’re making. Stay out of Coffeyville, KS  there’s very stiff competition there 

@Reagen Natho will work for moonshine 

@Reagen Natho Worst case you just move everything back :)

@Courtney Y. management is easy from anywhere in the world. @Avery Carl is the supreme authority on this market. She’s sold me 5. 

@Alex Boulger 

First.... Airbnb is basically illegal in Nashville. There are a couple of exceptions but the one you’re describing is not one of them so that’s out. 

Second.... the best short term rental (Airbnb) market arguably in the world is right down the street from you in pigeon forge where you could get in to a second home loan for as little as 10% down. 

You can only have one FHA loan at a time. How is the condo financed?

You must live in an FHA for a minimum of one year or have that INTENT. I don't know for a fact but I doubt you'll be able to put a partner on title with ab FHA. It's not worth the risk anyway you're basically telling the world that that person owns half of your house AND you're letting them live there. That's not going to end well you're basically giving them a free house.

My questions are rhetorical. I like when people hit the Vote button :)   

Good luck! 

@Daniel Anshus I would ask my PM “Self, are you ready to manage this property for the next 2 minutes of this day” “why yes I am self” “ok sweet let’s do this!” 

My number is in my profile give me a call STR is not something you want other people in charge of.

@Ethan Brown If you’re referring to the 1% rule then no. Depending on the market the property will need to gross at least 1.5% every month. Give me a call I’m happy to help number in my profile. 

I agree with @John Underwood besides if this person was a decent realtor they wouldn’t be calling hair clients from 10 years ago to make a pitch.