All Forum Posts by: Robert Schwenkler

 Thanks Shannon. I've actually been looking into OwnerRez for some additional reasons too. How many units are you running with it?

Some yes, some no. I'll take that into consideration.

Right now we've got a confluence of issues coming to a head that we'll have completed/better handled come next spring/summer (when we get 95% of our back to back bookings). For the moment being able to remove stress is the priority. That may look different next year, but if not, sustainability and morale are more important than a few thousand extra dollars per year.

Running a 53 acre ranch in Texas is a WHOLE other level of property management.

I do have it set up on AirBNB, but get two back to back bookings with VRBO, or a direct and a VRBO and I'm out of luck.

I'm doing some digging into different PMS systems. I like Hospitable, but the ability to automate this one thing might be worth a switch if someone else offers it.

Our cleaners are great. We run a 53 acre ranch in the middle of Texas, and the stress of unexpected problems coming up with not enough time to resolve them (septic, water lines, other equipment malfunctions, adequate pool maintenance) between guests is too great.

I'm aware there's money left on the table. The stress and possible guest unhappiness are not worth the money.

We want to eliminate our same day turnovers. On AirBNB it's simple to add a day's buffer before and after a booking, but hard or not possible on VRBO.

Hospitable is our PMS and I don't believe they've got that functionality. I wasn't sure if Price Labs does that either, as far as I can tell it doesn't.

How can I solve this need? (without manually blocking things out every time a booking comes in)

Thanks in advance.

Thanks so much for the additional input everyone. That's a good dose of info to chew on. We just closed on our 2nd property and I want to get ahead of the game in learning about this stuff.

Much appreciated!

And nobody's answering the actual question I have... taking out personal loans on properties that are held by a business.

I get that there are questions in this can to bring to an attorney, but this is not one of them.

Does anyone have any input on that?

It's not about owning 10 properties with mortgages.

It's about owning 10 properties, and having one person come along who decides to sue the heck out of you. It could be totally unrelated to real estate... maybe you bump someone's bumper and they run to a lawyer. If you have millions of dollars in assets/equity it makes you a good candidate to go after, if someone wants a piece of that.

Whether a claim is valid or not there's still the possibility of significant financial output to settle or go through the legal process.

I'm not the person to typically stay up at night about this kind of stuff but it's slightly surprising to see everyone being so cavalier about it. Yes, chances are low, but it does happen.

@Greg Scott thanks for the input. Some thoughts/questions...

the odds of a lawsuit are fairly small. Agreed, but I don't want to bank most of my net worth on a low probability gamble if I can help it.

It often isn't worth their time to go after the equity if they have to deal with paying off a bank loan. What about the case where some properties are paid off? There might be millions in equity available there. As it stands for us we've got about 1/2M in equity. There are people who have plenty more, but it's not nothing.

50% of people don't manage them legally so they get thrown out in a lawsuit anyway As in they don't have an attorney set them up properly?

Hi gang,

I'm just starting to look into/learn about commercial lending, and of course the terms on residential loans are typically better, sometimes by a large margin.

David Greene and other BP hosts talk about how people can get up to 10 residential loans to finance their investments.

My questions is around how one would manage liability/asset protection in this case? If I bought 10 properties with these loan types and kept them all under my name I'd be putting myself at an extremely high level of exposure to lawsuits.

Is there some kind of workaround to place the properties in holding companies while still retaining the residential loans? Or is it necessary to go the commercial route to really create solid asset protection?