All Forum Posts by: Alec Miller

@Joseph Stewart and @Julia Bykhovskaia thank you both very much for the productive responses and suggestions. A business line of credit is my goal, but in the meantime asking my landlords to keep the utility accounts in their names is a great way to take some of the strain off my personal credit. 

Best,

Alec 

@Michael Baum, @John Underwood, @Scott Rogers, @Paul Sandhu thank you all very much for responding to my post!

I appreciate all your concern, however, I do not have "all my eggs in one basket" with STR arbitrage. I also own long term rentals. STR arbitrage is a way for me to create MASSIVE passive cash flow which allows me to invest in long-term holds. I also use my own lease/contract that I wrote which significantly limits downside risk incurred when not owning the property.

Thanks again for the input, but please focus on answering the question at hand!

Best,

Alec

Hi Everyone!

I have been doing. Rental arbitrage for the past few months and am up to 6 units that are all performing very well. I see a ton of opportunity to continue to grow (I could have another 6 this week if I had the systems in place) but I am restricted due to the fact that I am signing on the leases, utility accounts, and financing the furniture so my credit is taking a beating. I have a partner on 2 of them where everything is in his name and he wants to do more deals but will eventually run into the same issue. I would really like to find a way to legitimize, get some business credit, and run wild. Anyone have any tips on how I can take the next step and really launch this thing?

Best,

Alec