All Forum Posts by: Robert Tinker

@Jess McLaughlin I'd like to follow up with you as you progress on your deal. What part of the country are you doing this in?

I use Schlage Encode. I set the Tenant/guest code the same as the last 4 digits of their phone number. It allows me to set the date and time when they can begin to use it as well as ending date and time. I have a lock box with a key in case batteries die.

We use Foremost

@Chad Lanting Kinda just in the investigating stage. Locally land is pretty expensive, might have to look into a little farther than my current area. Was hoping more would chime in. Seems like with the increase in RV sales and the restrictions from the HOA's there would be good opportunity. Maybe start with uncovered then add covered as time goes on.

Thinking into the future. Curious about RV and boat storage as an investment strategy. Anybody doing this? Pros vs Cons. Can you purchase one with an SBA loan? Thanks in advance!

@Kevin Freeman Welcome!

@T Sanch Don't forget to account for your equity you made in the BRRRR deal if done right. And your tenants continue to build that up for you.

Does the deed say no roommate?

@Vee Vu Maybe he gets 30% as payment for renovations. But not both

@Jazmine Stanek We bought a condo across the street from the beach. Just remember that the insurance costs are quite a bit more ( wind insurance & flood insurance). Our intent was to use it as a short term rental and stay there a few times a year. Then Corona came, and all our guests cancelled. Not knowing how long this Covid-19 thing was going to last we pivoted to medium term rental, traveling nurses and doctors. Make sure it's legal for short term rental and it would still cash flow as a long-term rental just in case.

Then there's the hurricanes. But it's a risk we are willing to take. Good luck on your decision. We absolutely love it when we can go there.