All Forum Posts by: Chris I.

FirstBank does HELOCs on investment properties for qualified borrowers

I believe if your fund reaches a certain threshold you have to register with the SEC and file yearly/quarterly paperwork, etc. 

 I like this idea, I have these for my own home but never thought of using one at my rentals.

A lot of HOAs have a 30-day minimum which is still very workable for a lot of areas.  

I've had the same problem recently.  I also turned off instant booking via Airbnb and left it on for vrbo.  Airbnb says they pull external ical feeds every 5 mins (good but not great).  VRBO doesn't say and from my general observance it's more on a hours than mins schedule (terrible).

In regards to the text message spam, there's an app "RoboKiller" for blocking spam phone calls.  But they also have a separate app, "TextKiller" that does text message blocking and it works really well.  You can block by area code or text keywords in the text.  If you basically tell it to block all texts that mention "fair cash offer" or 'as is' you'll block 95% of these texts.  Before using I'd also get like 10 texts a day on my properties.  Hope this helps others!

Currently using Turnoverbnb and it's been working great.  It auto-syncs listing calendars to the cleaners. 

Wyze Lock w/keypad, no doorbell cam

@Ashley Chris Why bother? You can just get a decent size umbrella insurance policy for the rental(s) and be fine from legal issues. Forming an LLC just makes your taxes more difficult. And all the income from the LLC would just flow into your individual tax return anyways. Also the way David describes is the technically correct way to do it. But most people I've talked to never do the second step of refinancing into a commercial loan.

@Bruce Woodruff are they SFH or condo/townhouses? You said no HOA so I assume you had to go SFH for that?