All Forum Posts by: Luke Carl

Jeffrey Holst if you’re finding 100k duplexes that tent for 1200 you might want to keep that quiet. And if you don’t how are you finding them and what’s their number? 150k cabin in my market down the street will gross 3000-3500 per month but it’s not as passive as you’re suggesting

Jimmy Silcox my east Tennessee from the can properties net $1000++ per month in the 150k area with 15k down. Gross 35k per year. That’s a bit better than $200 per month ;)

Hello and Welcome!!! 

You can't even find single family 2/1 in a bad neighborhood for under 150k these days and if you do @Devan Mcclish will tear it down and build 4 in it's spot! Lol. 

Couple years ago I looked East to the mountains and I've got 5 vacation rental cabins that I manage from my cell phone, generally while I'm on the can. HUGE returns, I don't have to be there because I have people working for me, and I can keep scaling. 

Everything within an hour of you is red hot as I'm sure you know by the price of the east nash house you just bought. Although $150 per door is realistic and probably do-able if you keep looking! I'm sure @Avery Carl can find you something with some patience. Not sure how quickly you can scale by saving $150 per month though. It's tough here. If you find the secret please share it with me! 

Good Luck! 

Personally I wouldn't bother doing it I'd want the whole place to myself and I don't like the kind of guests that would rent one room while someone else is in the other rooms. 

But to answer your question, yes I would get a deposit and have them sign a RA just like everyone else. 

I use Avalara. mylodgetax. I started out doing it myself and it was too annoying. If you ask them for a discount they'll give you one especially if you have more than one property. 

If you want to do it yourself you need a business license and a state tax ID for your business and mail a check every month. One to the county one to the state. That's how it works in my market. It was a giant pain just finding all this info. Most people use a PM that does it for them in my market. Those people don't make any money because they're giving the PM 40% to do a crappy job. 

The Tony award wining Scarsdale surprise! You picked the wrong forum. This is the lease-free VR-STR forum. We don’t know.

*****  5 Star "We had a wonderful time at this cabin! Inside felt like home and outside you felt secluded with an amazing view! My boyfriend of 11 years ended up proposing to me on the porch! Very quick response from the owners! Overall we would love to come back and enjoy this special cabin again" 

I got that yesterday. I gave her 3 stars for communication because they ignored me. Now I know why. I told them 10% off anytime. 

*** 3 Stars

"I was dissapointed that there weren't 3 types of moonshine at the cabin for me to sample during my stay."

A jar of moonshine is $25. So he was expecting $75 worth of moonshine for a one night stay worth $100.  How he came up with the number "3" I have no idea. And to top it all off he scratched the crap out of my hardwoods with his suitcase. Did I mention he was a preacher? 

SMH. 

(This one was REAL!) 

Let's face it. In this business the reviews can make you insane. Post reviews that really stand out in your memory.  And PLEASE let's not get off topic. Looking foward to reading yours! 

(I may even add one or two that are fake for a goof but I'll make sure to note that I made them up) 

Smells stinky to me