All Forum Posts by: Adam David Graning

@Chad Tessmann there’s plenty of tax advantages to your situation. With STRs in particular, you’re going to want to start interviewing CPAs. Furniture has all sorts of different depreciation schedules and a good CPA will be able to untangle that whole mess and pay for themselves each year!

@John Underwood I would definitely mention that in the review so future guests are aware. If you like everything else about the place, just remember a 4 star review can be punishment enough in most cases. Anything worse than that can be really hard to come back from as a host.

That’s awesome. Multifam Brrrr is definitely a goal of mine. Congrats! 

I would go HELOC just because closing costs are way cheaper. You can get up to 95% LTV which is great. The problem with helocs is the interest rate is usually variable, where as a refi you'd be locked in to these great rates.

@Helen Lowery thanks! Yeah so we’re venturing off into wholesale/off market territory. I’ll look into commercial!

@Kyle Debiase I use travelers, they're the only affordable insurance company that would cover either of my STRs. There are STR specific insurance companies but they will charge around double.

I’m 3 deals into my journey and I’d like to start using other peoples money to invest.

I guess I’m just wondering what to look for in a hard money lender.

What you wish you knew before you first started calling around. Thanks!

@Benjamin Couch I paid off my wife’s loans when we were dating. I’m happy to be debt free but I regret not buying a cash flowing property to cancel out the payments instead of paying them off. There are tax benefits to paying down her loans, and who knows if some of that debt will be cancelled with the current administration in the White House.

@Randy Philpot I have one in Cape Coral, FL that charges $175 for a 4 bed house. We charge 250 for a cleaning fee and the guests don’t seem to mind.