All Forum Posts by: Brandon Miles

much appreciate the responses

I am wanting to do an Airbnb and have an opportunity to pretty much gut the house. It's an older 1960's (In Arizona thats an older home) home and I am thinking since I will be stripping it to the bones I would like to replace the plumbing. I know this is not a good ROI because it doesn't add value, but since I am really opening up the house I will have an easier time than ever to just take care of it and be worry free for 30 plus years. Are there any particular type of material that is better than others for plumbing for long term use?

When redoing this house the two themes I would like to stick with for this home are durability and ease of cleaning.   I am thinking of dong concrete flooring for this reason. That's really all I got right now. Does anyone have any other recommendations for how to really tenant proof a home?

As you can probably tell I am not handy or knowledgable about materials so I apologize in advance for my ignorance. 

@Ryan Seib much appreciated for the insight. 

@Ryan Seib thank you so much for the insight. 

In the example, you mentioned about the woman who was assessed a $300 fee from the HOA is this a standard HOA fee?

Do you know if there is a law against HOA's in making exorbitant fines? What protects the people in the community from HOA's where they might have a hidden agenda to just make up whatever fees they like in the hopes that the fee does, in fact, force a homeowner into foreclosure?

To all that answered my questions, I greatly appreciate your feedback. 

@Eamonn McElroy all 3 are correct!

I am a bit surprised that for 3 years in this same complex multiple people have been doing STR's and have never had an issue. I rent out the unit for 5 months and get a notice. Can I be the only person in the entire complex that has received this notice in the +3 years?

My goal like any investor is to make a sizeable return on an annual basis. I bought in mind that if this problem were to occur I would have an exit strategy where I could at a minimum sell it for at least what I bought it for. I so far am very confident that I will able to do so. Also, I gained valuable knowledge in the STR game.

So... back to my question..?

Hello,

I got a letter in the mail in regards to using my condo as a short term rental, and have 10 days to comply.

It does state in the CCR's that rentals have to be a minimum of 30 days. The reason I purchased the property despite those written rules is it seems that rule (currently 12 other Airbnb's are listed in my complex) along with dogs must be under 25 lbs are not enforced.

With that being said I am wondering does anyone know how the HOA comes up with a fee assessment? or can they legally just make up a dollar amount to their liking?

@ David Robertson I greatly appreciate the thorough explanation. I will certainly take a look at the book. 

@ Whitney Hutten thank you for the advice. I do like how J Scott is such a numbers guy. I will def check it out. 

Shawn, Thank you so much for the info.