All Forum Posts by: Debbie Bone

You can manage your own properties. One property I'm dealing with is in a specific vacation town with it's own regulations and zoning and a property with multiple partners in an LLC.  That municipality wants a local licensed property manager on file with city hall.

Hey, lots of good replies and ideas here. I'm going to post a Craigslist ad and I'm going to contact Evolve as well as a local vacation property manager. The difficulty here is the vacation part - if I want to rent them long term it seems it would be easier, but maybe less profitable.

I'm a bit alarmed at what I'd be paying at a 32% management fee - if they tack on another 10-20 percent for admin that's getting unbearable.  It looks like they are optimizing marketing by using a lot of online platforms. I have one other AirBnb property that used to be booked solid but this year is limpid as all these new management companies seem to be pushing their rentals to the top of the search heaps.... it's getting tougher for the little guy.

I’ve purchased three cabins-beachfront-great location cabins on 1/2 acre. I want to develop Condos or townhomes but meanwhile vacation rent them to help cover costs. I’m finding a lockdown style 32-35% property management rate by local managers and I’m not impressed by what I’m hearing on reviews. VACASA is new to this area and wants to manage the cabins but still want 32% not including extra fees for maintanance etc. The properties were very mismanaged so I can’t go on past rents. Area rents are great occupancy summer and dead in winter. I travel-work a lot and don’t really want to manage myself unless absolutely must. Does anyone have experience with VACASA or have suggestions. The local municipality requires a property manager for absentee owners and state of WA requires property managers to be licensed real estate agents. I’ve thought of a couple ways to work around all that but if VACASA is as good at marketing as they say I’d lean that way. Thanks.

@Danny Randazzo good ideas thank you.

I’m purchasing ocean front property in a fast growing tourist town on the West coast. I jumped on the property because of the fantastic location. It is zoned for multiple uses - my idea is to construct condominiums similar to the building next door, and sell them. Here’s where I need help. I’m not experienced in developing at this level and need a reliable investor/partner. Where should I look for my partner or partners?

@Renee Yarbrough

Bet you learned a lot on this deal and what not to do next time. Treat it like a game - you’ll find another deal and make different mistakes, you’ll develop a feel and your game will improve. Best way to learn is to just do.

I have two lots under contract under my name, containing 2 vacation rentals with potential for 5 more, or 15 unit motel. I want to develop the properties and hold. Should I close under my name and quit claim into an LLC? I'll have a loan - want future liability protection. Suggestions needed. Will talk with my mortgage broker and attorney tomorrow.