All Forum Posts by: Alexander Canha

I have one STR under my belt but looking to grow and wanted to do so using private money as I have some friends and family that have expressed interest. I was hoping to connect with someone who has used this type of financing to purchase and manage an STR in any capacity. Thanks!

Are you investing for yourself, with a loan from other people? Or are you investing FOR other people?

If you are simply borrowing from friends and family, that would be a big "no" for me. Relationships are not worth jeopardizing over business deals, even if it's just a one percent chance.

If you are investing FOR other people - friends and family - you have the same risk. If things go bad, it damages your relationships. I went in business once with two friends and we all went in agreeing that nothing would jeopardize our friendships. Famous last words. Fellow investors have different goals, mindsets, quirks, and risk tolerances. That leads to a lot of problems. The business ultimately failed because of these divergences. We kept our friendships intact, but it was pretty painful, and I would never do it again.

Hi Collin!

Appreciate the insight! This would be investing for other people. I currently work in a family business so I know the difficulties that come with it.

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Hello!

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Hello all,

My current insurance provider is going to stop insuring in CA. I house hack a duplex, where I live in one unit, and list the other unit as a STR, located in Walnut Creek, CA. I'm having trouble finding a provider that will provide me a quote and looking for recommendations. Thank you!

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Quote from @Baird King:

Quote from @Alexander Canha:

Hi Baird,

Did you happen to figure out this situation? I’m in a similar one myself.

Hey Alexander. Yes we did. We ended up going back to Proper. They had rejected us the first go around, but we had no problem with them the second time. Didn’t get a great answer as to why it didn’t work in round 1. The rep who helped us the second time said it should have gone through. Definitely an argument against stopping just because one person says ‘no’.

Hmm interesting! They rejected me already because of a high fire hazard but I’ll try them again.

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Santa Barbara, California

Hi Brian!

I was wondering who you ended up going with?

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San Francisco, California

Hi Baird,

Did you happen to figure out this situation? I’m in a similar one myself.

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Santa Barbara, California

Another question kind of relating to this, can the BRRRR method work with STR's instead of renting to long term tenants? I've heard the refinancing would be the biggest obstacle?

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Hey all! First year doing taxes owning a short-term rental. Does anyone have a CPA they can recommend that is experienced with STRs?

Thanks!

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Quote from @Chris Seveney:

Quote from @Alexander Canha:

Hey all,

I'm rehabbing a house house hack where I am living in the downstairs unit and renting the unit above. My unit is done but upstairs, before I put flooring, I've been looking into the best way to soundproof between floors and I discovered MLV as an option. Has anyone used this and had success?

Thanks!

That will do very little if its a wood framed structure. your better bet would be to insulate between the floor joists from below and replacing the drywall downstairs with a special acoustical drywall, but even then it will provide some assistance but be very expensive.

Thanks for the input! I did already blow in insulation between floors. Unfortunately it's too late to change drywall downstairs.

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All Forum Posts by: Alexander Canha

Alexander Canha has started 21 posts and replied 60 times.

Post: Purchase STR using private money

Post: Purchase STR using private money

Post: Purchase STR using private money

Post: STR Insurance Help!!!

Post: Short Term Rental Insurance - Owner Occupied Duplex - California

Post: Short Term Homeowner's/Liability Insurance in California

Post: Short Term Rental Insurance - Owner Occupied Duplex - California

Post: Cash out refinance

Post: CPA Recommendation for Short Term Rental !?

Post: Mass Loaded Vinyl between floors for Soundproofing