All Forum Posts by: Daniel Hess

@James R. We tried setting up direct booking for our repeat customers to save both of us some money from Airbnb’s fees. A few weeks in we noticed a steep drop from bookings on Airbnb. We didn’t get anything through direct booking we unlinked the direct and a few weeks later bookings started coming in again big time. We guessed the Airbnb algorithm didn’t like us trying to cut them out. We are also not in a tourist area so we rely heavily on Airbnb. Hope this helps.

Started earlier, not been afraid of debt, not been so fearful of making a mistake. I wanted to start buying real estate exactly 20years ago when I was 23. I bought my first property 10 years later and it was a home run. Then I spent the next 10 years looking for another home run because I didn’t want to have debt. I’ve added four properties since I discovered BiggerPockets two years ago.

Thanks for the advice, this ended up not being so bad afterall. I talked with the neighbor and it ended up being something personel with the tennants. He had been friendly and helpful to me so far. Hopefully he doesn't have a problem with the new tennats. 

That’s what we ended up doing, which he told me to talk with him instead of legal action. I am currently rehabbing the property to either rent out or flip and have ended up talking to other neighbors and even talked with the neighbor that was the problem. Can’t say I get an awesome vibe from him, but he definitely had a personal problem with the last tenants. Thanks for your reply.

I bought a house with a tenant a month later they left because the neighbor had started to harass them. They had a restraining order placed against him and put up security cameras. They had lived there for the last six years with the same neighbor, but never had a problem with him until recently and according to them with no reason. They left for fear that he would hurt them or thier children. So now I have a vacant house with a possibly dangerous guy next door. Anyone got some advice before I fix the house up and rent it again, is their anything I can do legally to keep him from harassing future tenants? Thanks 

Investment Info:

Single-family residence buy & hold investment in Saint Joseph.

Purchase price: $190,000

Three house package deal used equity from another property for down payment. The house's ended up appraising for $255k and are currently rented below market, cashflow should double after lease's are up.

What made you interested in investing in this type of deal?

I was looking for multi family and ended up buying multiple house's.

How did you finance this deal?

With a commercial loan

How did you add value to the deal?

I plan on fixing up the houses betweeen tenants. The house's all were worth more that what I paid.

Lessons learned? Challenges?

I don't think I will keep using commercial loans. Ive heard of people buying them and quit claiming the deed to thier LLC.

@Brian Eastman that is good info, thanks

@Daniel Dietz that's what I was wondering, would my entire Roth be at risk even if the rest of it is still in mutual funds. I moved some over to Pensco trust because I plan on buying a turn key. I didn't know I could handle transactions myself if I had it in an LLC. Thanks

I want to buy rentals with my self directed Roth IRA, should I have the properties in an LLC that the Roth owns?