All Forum Posts by: Bob Willis

Can you go someplace like HotPad (they are owned by Zillow) to see what rooms are going for? I think you can do that same type search on Zillow looking for a room to rent.

Do you have an abandonment clause in your lease? If not, you should. 

@Joe Villeneuve has a model he uses (at least that is my interpretation). He may have some valuable input on this.

I recently used HotPad - they are part of zillow I believe.

Do you have anything in the lease regarding abandonment of the property? If not, you should (not be snarky) so that if a tenant leaves, the lease is broke, you take possession.

Financing depends on your financial situation, you don't share enough for a valid response. If you live in it two years you don't have to pay taxes on the gain. Might want to think about that.

 @John Underwood - when you say high standard, are you doing this yourself or PMing it out? If the latter, how do you monitor?

I pay 18% for my PM on my STR. Are you bundling other things into your 30-35% number?

@Mahinda Horapakse - If you approach the appraiser about reviewing and changing his opinion I would be respectful and bring facts supporting your point. Being confrontational (I am not implying you will be) will not help your cause. An investor, who was also an appraiser, was interviewed by Brandon Turner and David Greene on the Bigger Pockets pod cast and they discussed this specific topic. Sorry I don't know which exact episode. Good luck.

Same can be said for CC debt. Great post.