All Forum Posts by: Neil L.
Neil L. has started 1 posts and replied 13 times.
@Danial Cousino if you're just going to be putting money into publicly traded REITs you're probably better off opening an IRA at a traditional brokerage firm (Fidelity, Schwab, eTrade, etc.) until you reach your "critical mass" and are ready to invest in your own rental property - then you can transfer those funds to a self-directed IRA. Most self directed IRA accounts are pretty fee heavy and aren't really necessary for investing in publicly traded securities.
Post: Hardest Lessons Learned from Short Term Rentals
- USA
- Posts 13
- Votes 15
@Charles Kao you took the words right out of my mouth - sure you can offer your place at the lowest rate and keep close to 100% occupancy, but at what long term cost? It's definitely a fine line. In one of the condo complexes I own in, the gentleman above me charges ~$100/night more than the rest of the competition and he gets fewer bookings. But, he says he's ok with that as his unit is "premium" in both views and amenities, he makes enough income and his place isn't trashed.
Post: Condo in Maui allowing Airbnb?
- USA
- Posts 13
- Votes 15
Hey @Matt Smith, if you're still looking at condos in Maui there are some (free) online resources I use that will tell you which complexes allow STR. I own a few condos in Kihei and do searches there several times a week. Send me a DM and I'd be happy to share what I know...
Good luck!