All Forum Posts by: Patrick Clark

Hey everyone! My name is Patrick, and I started my real estate career a little over a year ago by getting into short-term rentals near my house in Dry Ridge, KY. I found the BP podcast a couple years back and have been steadily working my way into pursuing RE investing full time. Currently, my wife and I own one single family with a partner. I also just helped my parents purchase/rehab/and launch their first single family for short-term rental in the same area. Now that that project is up and running, I'm pumped to get started on the next leg of the journey! My typical approach is ready, fire, aim, but have been working on switching those last two pieces. I'm now focusing on research in order to accomplish a couple flips a year, while getting more involved in buy and hold multifamily. The next goal I'm working towards is $12,000/mo in passive rental income. I'm excited to connect with others who are doing similar projects to share experiences and learn from each other.

Thanks!

Hey everyone!  My name is Patrick, and I started my real estate career a little over a year ago by getting into short-term rentals near my house in Dry Ridge, KY. Currently, my wife and I own one single family with a partner.  I also just helped my parents purchase/rehab/and launch their first single family for short-term rental in the same area. Now that that project is up and running, I'm pumped to get started on the next leg of the journey! My typical approach is ready, fire, aim, but have been working on switching those last two pieces. I'm now focusing on research in order to accomplish  a couple flips a year, while getting more involved in buy and hold multifamily. I'm excited to meet up with others in the area who are doing similar projects and are interested in networking or partnering.

Thanks!

Hi @James Gates,

Congrats on the success! I noticed that you mentioned your lender was based out of Cincinnati and it sounds like you had a good experience. I live in that area and was curious what company it was?

Thanks for taking the time to share your experience so we can all learn!

@Joshua Feit

Makes sense. That’s an awesome resource to have! I hope you crush it.

@Joshua Feit

Nice. What sort of agreement/commitment were they able to give you as far as response time? That is the thing that I’ve been concerned with regarding managing a listing from afar.

Currently I, along with a partner, have one locally and I am acting as a project manager for my parents to get their first STR online that I will manage. Since they are local I am obviously able to respond for any time sensitive issue. Luckily in the 6 months that my listing has been online there has only been about three issues that my wife or I responded to (one wasp sting, and two wifi router issues).

Around me I am not aware of anyone that would be able to respond in a timely enough manner for STR issues.

Congrats @Joshua Feit ! You mentioned that you have a local on-call maintenance person. Is that a local handyman type business that you’ve talked to about contacting on short notice or more of an actual property maintenance company?

I also use only Netflix and Prime and actually because of poor reception I don’t have over the air channels either. I have had 2-3 guests comment about not having the local channels but that is over a period of 6 months and close to 60 guests.

Thanks everyone for the feedback, I really appreciate it! We are not in the stage of needing any review we can get anymore so we decided to address the issue of having a bunch of people with our no party rule. We suggested a great local coffee/sandwich shop where they could visit with people and said we understand if our house won’t work for them anymore. They have already responded and did not have an issue with not having a group over so it seems like they will be reasonable guests.

Thanks everyone for the feedback, I really appreciate it! We are not in the stage of needing any review we can get anymore so we decided to address the issue of having a bunch of people with our no party rule. We suggested a great local coffee/sandwich shop where they could visit with people and said we understand if our house won’t work for them anymore. They have already responded and did not have an issue with not having a group over so it seems like they will be reasonable guests.

My wife and I are hosting on Airbnb and just received an initial message from a guest that instantly booked our place for April. Our current pricing structure is a base price with an extra fee per guest starting at 2 and in our house rules we list “no parties or events”. I’m curious as to how other hosts would handle this guest? Our concern is that they have only paid for two guests but will be using the house for a large group.

Message from guest:

Hello Patrick & Theresa!

Hello!

I’m Rosie a Grubb and my husband Rod & I are Christians and will be attending the Ark Encounter Conference for 5 days and wanted a place close by. We do not partake in alcohol, smoking or anything unhealthy.

Rod is a Deacon in our church in Henderson, NV. We are both retired.

This is our first booking on AirBnb too!

Your place looked very cozy perfect for our needs and homey as well so we could visit and fellowship with others we know who will be attending the conference & guest speakers at the conference. Hope you have extra folding chairs.

We are on a special diet called Keto, so we can only eat healthy high fat foods, avocados, fresh farm eggs, grass fed beef etc. no carbs, nothing high in sugar like fruit, or anything processed. This life change will keep us disease free, healthy and never needing medications.

So hopefully you can help us with a place to shop at as we rather cook our own meals than eat fast foods.

I love Horizon Organic Heavy cream for my coffee, and real butter from grass fed cows.

I make my own bread, do you have a mixer that kneads dough or bread pans?

We have a son and daughter in law who lives near Cincinnati who just lost their baby a few months ago and it will be nice to have a place to get together and visit them while we are at the conference if they want to stop by as well after work to see us.

I saw a fireplace in the photo! It would be nice to use but is it a real fireplace? I didn’t see a screen.

Anyway, we look forward to the Ark Encounter, Creation Museum and Horse back riding if possible near by! I just love horses!

I booked your place as it was a reasonable price for our vacation and be able to get there early to see Kentucky before the conference.

Plus it had a King bed we are used too. We look forward to staying in your beautiful place and we will take care of it while we are there.

Thank you!

Rosie & Rod Grubb