All Forum Posts by: Beth L.

@Michelle Moss I love Siesta Key!! It's my favorite beach. Sorry I don't have any connections. Unfortunately, $4000 for the month seems to be the going rate. Perhaps you can negotiate with the owner for a better price?

Thanks everyone for your input!!!

@Ryan Billingsley I started into real estate in my early 30's and my only regret is that I didn't do it sooner. I wish I had been taught earlier in life about the value of REI (of course they don't teach these things in school), so I really want my children to have that advantage.

Hi All,

I am curious to hear from successful investors who have trained their children to develop an interest in REI. Do you have any tips?

I have played the Cash Flow for Kids board game and Monopoly with my kids. Perhaps they are still too young, but they do not want anything to do with real estate right now. I am sure it has nothing to do with the looooong hours spent in a construction zone with not too much for them to do :-)  

We really want to train them while they are young, teach them the benefits of investing so that they don't have to be in the "rat race".

Any tips, suggestions, or good ideas?

@Arlen Chou How it is that you can own the properties in the names of LLCs and have the loans in your personal name?

I have also found that Zillow's Rent Zestimate is pretty accurate. I use a combination of Zillow, Rentometer, and Craigslist to determine rents. Craigslist is usually the best since you can see pictures. The finishes in the property can demand higher rent.

Does anyone rent out their personal RV or camper van to roadtrippers? Or own one to rent out as a business? I would be interested in owning one for personal trips but the expense is so high.

@Steve Rozenberg

 Yes. Change them yourself. Even if the tenant says leave them and they will do it. We go to the units quarterly and change them and inspect the unit quickly. In and out in 5-10 minutes.

@Mike H. If it doesn't look deliberately damaged, then yes, normal wear and tear. Perhaps this is a known issue for this appliance. Repair or replace at your expense.

@Jay Boyle Security deposits are considered a liability and NOT income. They are considered income only if you have to keep all or some of a security deposit due to tenant damages.

@Account Closed yes, hearing that can get old. However, I just say, "NO, I am NOT a slumlord!" People that says things like that unfortunately don't understand the value of real estate investing. We do :-)