All Forum Posts by: Brian Kantor

 Hey, @Michael Baum. I absolutely LOVE the OwnerRez backend software, but do not love their site builder and found their templates to be limiting. I had the site built in Wordpress using the Elementor framework and then used the OwnerRez Wordpress plugin, widgets and short codes to enable bookings and calendar display. The photo carousel is also importing from OwnerRez in realtime so as I change photos on OwnerRez, they automatically push out to the site as well as VRBO and Airbnb.

 Thanks, @John Underwood! I've built my own Wordpress sites in the past, but I've found the cost vs time commitment better to contract it out. This was actually my first site that I did NOT build myself. I design the pages in Google Slides and then work with a Wordpress developer to build them into the actual pages themselves. I've now worked with this developer on two projects and have been very happy with their work. If you DM me, I can share my developer info.

As for the ability to accept the bookings themselves, I had already been using OwnerRez to sync my pricing and availability between VRBO and Airbnb, and they offer Wordpress widgets to connect their software to your site. The process was relatively simple and their customer services is excellent, but OwnerRez does take some time to get used to.

Thanks so much for the kind words! What do you feel is a fair price for pro photos and are there specific things you suggest we get photos of or "types of photos" you recommend? 

Hi, everyone. We've been reliant on Airbnb and VRBO for renting out our STR in Vermont ski country.

We've had success to date, but after listening to BP's Real Estate Rookie Podcast episode 680, the guest Mark Simpson discussed how owners are beholden to the whims of these platforms. As they change their pricing and algorithms, we simply need to "take what comes". In addition, negative reviews on these platforms from unruly guests can really screw things up for future bookings.

TLDR, he suggested creating a direct booking site, which we did. We have it linked to our OwnerRez property management software which also plugs into Airbnb and VRBO. Would love some feedback on what we've built and learn what some of you who have been successful in doing this already have on your sites that may be lacking in ours. 

If you have a moment, please take a look and provide any critiques you have. Thanks in advance!

Every lender is different, but most will want to see at least 12 months of income, less expenses to qualify this as additive to your income.

No problem, @Anna Antipkina, and thank you!

Ludlow is a great market 9+ months a year. You'll do fine once you get some traction with positive reviews.

Let me know if there are ever any questions that I may be able to help answer.

Take care.

Hi, @Honglian Wu and @Emily Wissinger. I hope all is well.

We have a STR in the town next to Ludlow and we were booked solid for the Winter (every single weekend and many weekday nights.)

Check out our property "Honeypot Farmhouse" here.

We're just coming out of "Mud Season" now where everything shuts down (restaurants, etc), but entering the Spring and Summer, we expect the rentals to pick up nicely. Fall Leaf-Peeping season is also a huge draw, and then things quiet down for "Stick Season" before they start picking back up in December.

Happy to chat with anyone about the area. It's a great market!

Take care.

This is an old post, so I'd like to revive it given how quickly tech tends to advance. Does anyone have any pros/cons to NoiseAware, PartySquasher, Minut and any others in the space?

I wasn't going to use, but my insurance carrier offers a discount to have one installed.

Would love to hear others' thoughts.

Many thanks!

 Hi, @Thomas Rutkowski. I agree with you that building an overfunded Whole Life or IUL policy from which to take loans is a smarter financial move than many would have someone believe. I do it myself. Big fan.

But I think that we're getting a little cute with the semantics here. You are also correct, in that it does not HAVE to take years to build up cash-value in a properly designed policy, but the reality for most investors is that it does. If you've got a ton of liquid capital sitting around, you CAN build this up quickly, but for most people, this is something that you contribute to steadily over time until the cash value is meaningful enough to take a loan from. TLDR, you can only take a loan out proportional to what you put in it and everyone has the financial ability to put in that which they have the capacity to do.

Hey, @Joshua Milam. This is an extremely polarizing topic.

Full disclaimer, I am no expert, but here's my two cents.

I personally love the idea, but conventional wisdom is a hard "no". Many people believe, and rightfully so in most respects, that Whole or Universal Life policies are a huge waste of money. These people will tell you to get a Term Life policy for much less out-of-pocket and invest the difference in a traditional brokerage account, which will earn you more money in the short term, but they do typically balance out over time.

The big proponents of the idea buy into the "Infinite Banking" concept and there are a bunch of posts about it on the BP Forums. Find more info here in this Millennial Investor Podcast interview with Chris Naugle, or read "Becoming Your Own Banker" by Nelson Nash.

The big things to note are:

1) If you don't already have a Whole Life Policy, it will take years to build up a high enough cash value to take a meaningful loan. At least 5 years, if not 10+
2) These loans are much better-suited to cover down-payments and renovations than to replace a mortgage
3) Make sure you are working with an experienced Insurance expert who knows what they are doing and how to maximize your policy for cash value vs death benefit

If you already have a whole or universal life policy that is not maximized for this, find an insurance expert and roll it into a better policy. (I use a Variable Universal Life policy with Ameriprise.) If you don't already have a Whole or Universal Life policy and want to use this method, consider instead taking out a loan against your stock portfolio (assuming you have one). These loans against your stock portfolio essentially serve the same purpose and carry similar interest rates. Note that you typically will need to have your portfolio managed by a Licensed Financial Advisor and have at least $100k in the portfolio to be able to do this. Again, consult with an expert as not all of these loans are the same and you want to make sure you're in the best one. Good luck!