All Forum Posts by: Brandon McLean

Are you saying large tracts of land for a subdivision? Or one-off lots to build on?

Home inspector will always put that on the report and give the buyer something to quack about.

@Michael Greenberg @Avery Carl @Paul Sandhu @Aaron T.

Thanks for all the input!  I love these rules, and I agree with basically every one of them.  I LOVE the part about 'Monica' - I think that's really smart.  And also the fines/fees about losing stuff like keys or damaging stuff even as simple as towels.  Best to lay everything out ahead of time and then everyone will understand when the fees get charged.  

Also about that--how does that work with Airbnb?  Are you allowed to debit their account for the fees/fines after they leave? or how do you ensure they pay for damaging the towels or losing the keys? Does Airbnb collect that money after?

Do you have a security deposit on your Airbnb listings?

Sorry for all the questions, I'm a complete Airbnb virgin on the hosting side.  Just used it to stay one night somewhere once. 

As an aside:

This particular home does have a fireplace but its gas logs and the gas line is just capped off now with no logs installed, and I plan to leave it that way.  In our other rental properties we do NOT allow use of the fireplace under any circumstances.  This may change as we get more higher class rentals, but for now it's a NO-NO with big fines attached to it. 

Hello, I'm about to furnish a house and put it on Airbnb...in the podcast about Airbnb, she mentioned her house rules... just wondering if anyone had a good list of house rules they'd like to share, or if we as a group can come up with some?

Hello, I'm about to furnish a house and put it on Airbnb...in the podcast about Airbnb, she mentioned her house rules... just wondering if anyone had a good list of house rules they'd like to share, or if we as a group can come up with some?

Does anybody have a list of AirBnB "house rules" they can share?  Any ideas? Cautions?

Not sure about your area, but around here we are seeing that the new neighborhood's HOAs are having rules like "only 20% of homes at any given time can be occupied by tenants." So if an owner-occupant wants to move out and rent it they actually have to apply to the HOA to see if they're even allowed to rent their own house out. In my experience working with investors, they tend to loathe HOAs. My guess is that's a huge part of why investors seek existing homes and older HOAs without rules like that. My friend is president of his HOA and he's lived there about 15 years. Told me they just keep getting stricter and stricter and usually about stupid stuff like the color of front doors, or how early you're allowed to put garbage cans out.

When I write "low ball" offers for clients or myself I've learned over time to save time by just listing the pertinent terms of the contract in an email rather than filling out and docusigning the whole thing. Like this: Greetings Angie Agent, Here are the terms of my clients' ALL CASH offer for 123 Main St: Sales Price: $74,680 DD: $100 Earnest: $5000 DD period: 7 days Closing: x/x/2017 Please let me know when you've received this, and we can fill out the contract and sign once we've agreed on the terms. My client has asked me to let you know that they won't be asking for any repairs and will buy the home as-is. They can also close faster if that works better for your client. Thank you, Brandon ------- The "terms" and what you call them vary from state to state, of course. But to touch on your original post...I guess we're all wondering your level of experience. If you're just starting out, how did you get the idea to try to tackle 3 states at once? I recommend to any new investor to go after like a 5 mile radius, a part of one town in one state, to get started. Dealing with a rehab more than 20 minutes away from your house can be a huge problem for you. Until you've done several and have systems in place, I would seriously consider focusing your efforts to your own back yard. Good luck!

I think it helps, a lot.

I grew up in RI. I don't recommend you live there. Consistently topping or near the top of the lists for many years: -worst business climate -worst infrastructure (roads, utilities, etc) -most corrupt local government -high taxes -extremely high drug use rates, especially heroin -high unemployment I'm not making this up. Look it up. The info is easy to find. RI is one of the states where the population has been declining for years and for good reason. All the smart people are taking their family and money and getting the F out of there. I've been trying to convince my parents to follow south for years. There are SO MANY national franchises that do business in almost every other state but skip RI. They know something you don't, trust me. Sorry to burst your bubble but it's no place to move to. All that said I still have lots of friends and family there and I'll always have a warm spot in my heart for Little Rhody. When I'm back home visiting my hometown of Coventry, I do find it hard to not pull over and write down the addresses of the many dilapidated houses that would seem like excellent candidates for some renovations. There are so many. If you can't stop yourself from moving there, I recommend you explore South County and be near all the famous beaches and restaurants and stuff. Good luck.