All Forum Posts by: Scott Royer

Rohith - feel free to send me a colleague request too.  We have a duplex in Slc and a condo in Provo but we're starting to look out of market due to the price points in Utah but we do have cash and if a partnership makes sense we'd love to look at it with you.

I had the same issue with my most recent flip in eagle mountain (suburb of SLC) and he came in $14k less than the full price offer. We had three offers at full price and the appraiser had the balls to say that salt lake is a "stable" market and barely gave us any consideration for the upgrades done. Long story short rather than looking for a new buyer we gave in realizing the most important thing, we were still walking away for $30k net profit so why be greedy.

we converted to Airbnb last year and had the same questions. You'll find the bnb communitybsuper receptive. In our case we sent inquiries to people in our area with similar sized homes and amenities and they were very forth coming with occupancy rates, time commitments and wear and tear questions. It might be worth a try. Also kudos to Jason for mentioning the zoning, many HOA and even some local ordinances are stopping us from making money on our investments so Ben sure to check. If you do choose to do Airbnb it's fairly self managing if you have a reliable cleaning company and handyman. Good luck!

Right now i'm in the Salt Lake area but with prices here starting to top out we're looking at selling some assets and getting into some 4x and 8x in KC.  I'm doing a scouting trip the weekend of 4/21 and if anyone knows of any properties available or folks that might have some that could help me learn about the individual market it would be much appreciated.

Hi - a flip I have under contract to buy is finally ready. For all of you tax pros is there any benefit to buying it tomorrow in 2016 versus waiting until 2017? It will be back on the market ready to sell by 2/1.

Hi - a flip I have under contract to buy is finally ready. For all of you tax pros is there any benefit to buying it tomorrow in 2016 versus waiting until 2017? It will be back on the market ready to sell by 2/1.

When I was in El Paso (2 years ago) 122 days was a fairly long market time. What feedback have you been getting on showings? Is there anything consistent that potential buyers are telling you? Also you probably want to get out and take a look at the competition with 1-2 miles of you. You need to see what you're up against and make sure you meet or exceed those for the same price or you'll always be someone's #2. I agree with the post that it seems like you're trying make the house fit the price you want. If you're not getting offers it's either price, features/finishes or location and luckily two of those are easy to adjust.

Hi guys - couple years ago I had some health issues in the middle of a flip and once it got done decided to do a two year lease option with a local wholesaler. He did a sublet and made his money I made my money and everyone was happy. Lease expired in June and he had health issues and then legal issues with his partner and we spent two months trying to negotiate around those and got a couple of rent checks but all after the lease option expired. Long and short is I'm owed two months rent and we've agreed on another two year term as a contract for deed and the missing two months as a down payment. but it's pulling teeth to actually see the contract and get it signed, "lawyer hasn't gotten it to him, oh sorry more health stuff, stupid lawyers didn't draft it right" and on top of that we're in two states and the property is in Texas and the property still has his sublet in place and they apparently pay just fine. Long story short has anyone had experience ending a relationship/contract like this and then just working with the renter? I'd like to take it back under my direct control. Please try hard to refrain from nitpicking "my deal" or the timeliness of my decisions and simply offer constructive guidance.

Hi gang - I got a flip op that literally landed in my lap and due to the holidays and personal commitments I need to get it done in 3-4 weeks and I need help. Does anyone have recommendations or numbers for the following trades? Normally I tackle a good chunk of work myself and hire hourly folks but I need this one done quick, with quality and for reasonable prices. General contractor or someone that can tackle the work - demo, install vanities, etc Painters Laminate floor and tile installers Landscapers Any help this awesome group of people could give me is tons appreciated!

Just some thoughts for you from someone that is Airbnb experienced. We converted a condo to Airbnb this summer and there's a few things that you probably want to consider beyond just "the numbers". I wouldn't trust your purchased software, send notes to people that are actually hosting. Folks here were very willing to talk and help me out. I'm in a college town and 50% occupancy was easily average, don't assume 80% under ANY CIRCUMSTANCES. Next up Airbnb is by no means a passive investment. You need to be available for reservations, questions and problems and that brings up cleaning, hiring someone is great but will they show up each time? What happens when you have an 11am check out and a 3pm check in, are they gonna get there? Who's going to do laundry? , Lastly think hard on your pricing model...price too high and you'll get no bookings. I'd recommend cutting your closest comp by 10% to get bookings and then busting your *** to get 5 star ratings!