All Forum Posts by: Caleb Culver

Wondering if anyone has a lead on a trusted real estate agent who specializes in the short term rental market in Palm Springs? Looking at investing but needing a great teammate with boots on the ground! 

Calling all BP geniuses! I'm about a month away from finishing my BRRRRR property, and unfortunately the basement windows were all knocked in, and so twice thieves have been able to kick in the boards and break in and steal from me and my contractor. I still have 1 more week until the actual windows arrive, and even with security sign and fake cameras, they still broke in a second time.

My question is, I'm going to install some type of home security system this week to help beef up my security, however, my concern is with a camera system, I'm not sure what's practical or what's even allowed in short term rental properties, so I want to find a system that would work well. I'm hoping for 

-Sensors for 2 exterior doors, all windows

-Motion sensor for main level and basement

-Camera's on 2 exterior doors and on the 3 basement windows 

Would love any insight you might have! 

PS, the police have a suspect and hopefully can find some of the stolen goods upon receiving a search warrant! 

Everyone has different learning preferences, but use the time while you currently have while you are saving to educate yourself like crazy. Listen to as many podcasts as you can, read every book you can find, start going to REI meetups, ask another investor if you can work for him for free, etc. I spent a solid 9 months reading 10+ books, and listening to over 100 podcasts, and built some good relationships before I started.

The best thing you can do right now outside of education is to get creative and disciplined enough to live off of 80% of your income. If you can save 20 percent per month, you'll find you'll have enough captial to land a deal, even if it's not the most amazing purchase, within a year of saving.

After 6 months of study and research and lots of hanging out on the BP website, I just recently landed a deal that I intend to be my first BRRRR property! I can talk about that deal later for those who are interested.

One question that has come up as I begin the rehab process is about how long will banks or loan officers require consistent rental income for short term rental until they'll approve a refi? I know most banks are 6-12 months for traditional long term rentals, but I've yet to find consistent or helpful answers about short term rental income. Anyone have any helpful information? 

*Edit* I'm aware of how many investors are not keen on short term rentals. I'm not necessarily planning on staying in the short term rental game long term, but our market is under-saturated with STR and since I bought the house with cash, now would be a great time to experiment with how I like STR and if I want to consider doing some STR's with some future BRRRR properties.

I just purchased a tax lien auction property, and the home needs significant roof and siding repair/replacement. I'm obviously looking for quality work but I really need a fair price. Would anyone have some quality contractors you'd recommend?

GREAT episode! Lot's of great insights to learn from. I also really enjoyed having a woman on the program, she brought a lot of unique perspective . 

I'd love to tag on if I can! I'm looking for a investor friendly real estate agent for Kalamazoo for single family and smaller multi-family. Any recommedations? 

If you currently have a property with equity, the HELOC is absolutely the way to go.

Congrats! Looks like you guys have done the legwork and landed a fantastic deal. Well done and good luck! 

Hey Chris! I'm local to the western Michigan area, would love to connect with you if you'd like!