All Forum Posts by: Neil Ridens
Neil Ridens has started 1 posts and replied 5 times.
Post: Interfacing with Self-Directed IRA Investors
- Posts 5
- Votes 2
I looked into this for a while for myself. Had a hard time as most groups doing this are looing for accredited investors, & minimum investment of ballpark $100k. I hold a commercial building in my IRA, but it gets complicated when its syndication. Best thing I found for smaller amounts of cash are the Delaware Trusts.
Post: Is AirBNB really dead?
- Posts 5
- Votes 2
Quote from @Daniel Muscarella:
Quote from @Neil Ridens:
My AIRBNB hit a slow down, and we changed course and have been renting it out on less than 1 year leases. Found a good market niche with people who are building houses, moving, short term jobs, etc. We are now off AIRBNB & rent furnished houses out at a 10%-20% mark up on normal rents, just for being flexible. Right now we did a 3 month lease with MTM after, and told the tenant to just give me a month notice when there under construction house will be done. Less hassle & headache, and still get more of a return than a typical rental. Depending on your market you should definitely consider it. Also it removes a lot of the competition between AIRBNB & typical rentals.
Since you're off AIRBNB, do you just find a place for rent on zillow and pay that rent and have other people rent it out while charging more. How do you find already furnished houses or do you furnish them and rent it out to other people.
Bought the house vacant and furnished it myself. I had it set up on AIRBNB for a while so converting to medium term rental was easy.
Post: Is AirBNB really dead?
- Posts 5
- Votes 2
Quote from @Bonnie Low:
@Neil Ridens how are you finding your customers in this niche?
1. Facebook Marketplace is the best place I've used. Example post is "furnished 3BR 2 BA - Month to Month leases OK"
2. The realtor who sold me the house has clients who sell their house and need a place to live for a few months.
Post: Is AirBNB really dead?
- Posts 5
- Votes 2
My AIRBNB hit a slow down, and we changed course and have been renting it out on less than 1 year leases. Found a good market niche with people who are building houses, moving, short term jobs, etc. We are now off AIRBNB & rent furnished houses out at a 10%-20% mark up on normal rents, just for being flexible. Right now we did a 3 month lease with MTM after, and told the tenant to just give me a month notice when there under construction house will be done. Less hassle & headache, and still get more of a return than a typical rental. Depending on your market you should definitely consider it. Also it removes a lot of the competition between AIRBNB & typical rentals.
I recently used my Roth IRA through a custodian to flip a property and now have the cash just sitting in the custodian. Does anyone have experience with using a custodian to buy into a real estate syndication fund?