All Forum Posts by: Matt Ridenour

Matt Ridenour has started 31 posts and replied 110 times.

Hi @Matt Ridenour I have been a part of some Mastermind groups for short-term Rentals. I too have larger short-term rentals while most people have smaller homes. So it is good to get together with others people who have similar type properties to bounce ideas off of each other. Let me know if I can be of help.

Thanks Shiloh! I'll reach out to connect. Looking forward it!

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Quote from @Kate Stoermer:

Hey Matt! Fancy seeing you here. Not quite what you were asking but Sarah Frazen over at RevZen might be able to take a look at your strategy - pricing, settings etc and give some insights - pretty sure she does ad hoc consulting - all she does is Revenue Management for STR.

Do you track your conversion rates and views?

I don't know any masterminds that deal with larger group stays. I worked w a gal in Orlando and she got friendly with travel agents who specialized in larger groups and sport organizations (the latter of which there must be some for around A2?)

If I can be of help, shoot me a text. I do a lot of this type of work. Happy to give a high level assessment and catch up.

Hey Kate! Thanks for the response. We're back at the township hall for another forum this Thursday, wish me luck! I'll send you a text about that. Would be interested in your feedback.

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Thanks for the quick replies guys. @John Underwood we are using Pricelabs for our price and amenities comparisons. We’re on vrbo and Airbnb. For a while we had a virtual assistant that was starting to build marketing lists for visits universities, trying to drum up stays for parents and teams. #trying. :-)

@Benjamin Louie here are our listings. Thanks for taking a look! (Actually not sure if those will get flagged, but I’ll try)
https://www.airbnb.com/l/xaEhrcbu

https://www.airbnb.com/l/79Deot9C

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First time posting in the STR area I think. We have chosen to focus on large stays in our college town (Ann Arbor.) Bookings are down as I'm guessing they are down in lots of places. Even our fall football bookings are not complete which is unheard of and a bit scary, as that tends to help us get through the winter.

I'm looking for a good mastermind or group to plug in to to try and right the ship. Any suggestions for either a large stay STR mastermind or even just a great all purpose STR mastermind?

Thanks in advance, as this forum is just the best.

1 Vote

Thanks for weighing in everyone. I have a few phone calls this week with lenders. I'll update the thread with what I've learned and with contacts. @Patrick Roberts I hadn't heard of the dscr 2nd. I'll ask about that thanks!

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Jay I'm in Michigan. Is that one of your states? I understand the brokerage system. I'm mainly focused on securing the best option for my trapped equity. If you can provide a LOC in my state I'd love to discuss

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Quote from @Jay Hurst:

Quote from @Matt Ridenour:

Guys, there has to be a loan product out there for a heloc on a rental held in an llc. Searching...................

HELOC's on a LLC is tough as it MUST be some one who will keep it on their books to service. The majority HELOC's on investment properties, including the sponsor of this forum, sell their loan into securitization pools into the secondary market. HELOC's by the very nature are tough to service with future advances taken. When you finance under a LLC, the lender must verify corporate authority, which is not the big of a deal at closing of a purchase or closed end first or second mortgage. But a HELOC every advance will have to have the same corporate authority each time an advance is made. Just not something that can easily be handled in a secondary market environment.

Thanks for taking the time to post. I’ll update this thread soon. I’m spiraling tomorrow with Wyatt Wolff from David Greene’s team. (The One Brokerage)

I had a brief conversation Monday with another lender, but I haven’t had any follow up. It strikes me this will be something I’ll need to chase down. For those interested, I’ll give the details when the dust settles.

1 Vote

Quote from @Mike Grudzien:

Oh, you want a HELOC and a great rate...? Let me know what you find...

No I realize the heloc rate will be high. I just want to keep my original mortgage in place.

1 Vote

Quote from @Nicholas L.:

@Matt Ridenour

have you tried The One Brokerage

I have not. I will definitely reach out though. I’m guessing I’ll get the standard reply, but hope springs eternal. Trapped equity is a tough one. I know I could put a dscr and pull a lot out, but I have a great rate and I’d like to keep it.

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Quote from @Nicholas L.:

@Matt Ridenour

have you tried The One Brokerage

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All Forum Posts by: Matt Ridenour

Matt Ridenour has started 31 posts and replied 110 times.

Post: Looking for a good large group stay mastermind

Post: Looking for a good large group stay mastermind

Post: Looking for a good large group stay mastermind

Post: Looking for a good large group stay mastermind

Post: Still searching for that unicorn. (Heloc on a rental)

Post: Still searching for that unicorn. (Heloc on a rental)

Post: Still searching for that unicorn. (Heloc on a rental)

Post: Still searching for that unicorn. (Heloc on a rental)

Post: Still searching for that unicorn. (Heloc on a rental)

Post: Still searching for that unicorn. (Heloc on a rental)