All Forum Posts by: Tyler Solomon

Facebook Marketplace, Amazon, Target, Walmart, Ikea etc.- heck even garage sales if the items are in good condition. Pick a theme for the home, stick to it, and don't overpay!

0 Votes

Ace - CLT is an incredible market, and is poised for a lot of growth in the coming years. Make sure you work with a lender who will properly underwrite the property as a Short Term Rental!

5 Votes

Charlotte, North Carolina

Quote from @Andrew Yozamp:

Thanks Nathan, definitely sound advice and more secure for sure. How would you go about accumulating multiply rentals with this strategy? My goal is to get to around 20 rentals possibly more. It would take an exuberant amount of time trying to save up that many down payment. I'm assuming it would have something to do with leveraging properties you are able to obtain in the beginning?

Andrew - great advice from Nathan and I whole heartedly agree. As long as you are buying properties that appreciate in value, you will be able to pull equity out of them down the road to help finance further acquisitions.

1 Vote

Quote from @Luke Carl:

@Collin S. Yes yes and yes. Lots and lots of write offs. Get cleaner to fill out a 1099 if they say no don't hire them. Find a CPA that OWNS a STR. This will be difficult. Good luck!

Correct!

1 Vote

Ryan - congrats on this! who was the agent you used on this deal?

1 Vote

Nice Michael! If you don't mind me asking, who was your RE agent on this deal?

0 Votes

Shannon - Happy to answer any questions you may have regarding this. Shoot me a message to discuss!

1 Vote

Quote from @Christy Osterkamp:

Looking for specific advice from owners who have turned a portion of their own home into STR.

We added a private entrance/exit, turned 1/2 bath into shower full bath, added a closet and a kitchenette, so our entire lower floor is a fully private 2 room/1 bath STR, including laundry.

Any issues arising from sharing a home with travelers? We’ve already approved with the city.

Thanks!

Biggest problem I have heard from others who have done the same is the noise level. If you are clear about your expectations with the travelers from the start, you shouldn’t have many problems

0 Votes

Nampa, Idaho

Most DSCR lenders will be able to get this done if you do not want to go the conventional route!

0 Votes

Facebook, cold calls, emails, and open houses are a great start!

0 Votes

Raleigh, North Carolina

All Forum Posts by: Tyler Solomon

Tyler Solomon has started 27 posts and replied 209 times.

Post: Best place to buy furniture for STR?

Post: Short Term Rentals - Charlotte, NC

Post: Not enough money for a traditional Brrrr in my area. Looking

Post: Airbnb Tax Write Offs

Post: Athens Condo, AirBNB

Post: Short-Term Rental, Big Bear Lake, CA

Post: Building for our Short Term Rental

Post: Two story home with Short Term Rental

Post: Converting Rentals from Personal to Business (LLC):

Post: Best ways to network?