All Forum Posts by: Frank Barletta

I, too, was in your shoes.

If you are serious about it, I post the details on Airbnb, have a separate waiver signed via Adobe Sign, and send them an invoice via Airbnb for the additional payment.

Do your homework on liabilities, of course, and yes, boats are a fantastic amenity if done right.

It could be interesting to start an incentive program and give a cut of each stay for every 5-star in cleaning. I had not thought of that as a strategy, but this post prompted me to drop in.

On one hand, you are incentivizing what you're paying for in the first place.
On the other, you keep the talent happy and turn down other clients until you get a 4-star, they don't get and then they get salty.

Mixed feelings but the bad precedent tilts me towards no.

I created a good relationship with my vendors and think I take care of them based on how they treat me and my properties.

I give a:

Birthday gift
End of Year Holiday gift
Mothers day
When cleaning ran over their "expected time" due to messy guests

all cash, always appreciated

Any foreign nonresident investor must file to create their own LLC and establish a US bank account. From there, they can make deposits into your fund account. This is how it was handled during fundraising in my previous ventures.

The key is KYC, and if the IRS comes knocking, they want to know you've done your diligence, even using crypto, etc.

I believe they'll need to be able to obtain an ITIN but have them go through the proper above-board channels to get their part done, and it'll be straightforward.

There is a reason the barriers to entry for real estate are high.

knowledge in laws, function, customer success, finance, business, maintenance an technology are key in this industry. Being able to know what you’re good at and what you should hire someone for is even harder.

if you’re jumping in, do it with eyes and ears open and read/watch as much as you can because there is a learning curve.

 Absolutely second this.

I double down on not responding to 4 star reviews. I do not reply to any reviews to be consistent. 

 Just take a ton of pictures and accurately file the claim with quotes and invoices. I did an AirCoverage claim and got it all covered. Was $4K in damages. 

It SUCKED but it was fine.

Thanks, Michael.

It's closer to $1.5bn but who's counting?

 I second this or no cancellation. Offer a 10% discount on Airbnb for non-refundable to increase a successful outcome.

I'm sorry to read this. Wishing you well in this endeavor!