All Forum Posts by: Derek Larson

I am not familiar with Alanson.  But Gwinn is just outside of Marquette.  Being from the UP and familiar with that area.  It is just so far from everywhere.  But I believe you can figure it out.  Winter would take some creativity- but I imagine is doable with mid term stays at the hospital or get a couple bookings from hunters or snowmobilers.  Is it on a lake to attract the summer travelers?  Prices are probably going to be cheaper but the rents are going to be less as well.  Everything is a numbers and personal goals game.   Good luck.

I have a propane firepit.  I do not love them personally but they are very convenient on and off- and little less worry about them burning down the house and forest.   I have stayed and multiple AirBnb's with wood firepits and even indoor stoves.  No issues, but my group is always responsible.  If it was my own I might be a little nervous, but if others in the neighborhood have the same, so I would probably be fine. 

@Ashley LaVigne. I am also interested in what city town in Central Michigan.  I would consider your goals, why did you buy the house, do you have a plan for the extra funds, consider taxes or capital gains-1031 exchange- what are you doing with the house now?  your post says a few years back?

Thinking about something other than spreadsheets for 1 Short-term Rental and 1 Longterm rental with plan to add more longterm rental.  Recommendations please.  I basically just want to use to track financials for me and Taxes.

Thank you.

Yes concrete 

Looking for help on my personal home. I have a beautiful screened in porch in Michigan. It has ugly carpet and stained. I am a decent tiler and can throw down LVP pretty easy.

Wondering if I have any worries about it holding up in our weather. It can get a little bit of rain and every now and then some snow.

Or for a couple hundred bucks and a half day work. Should I just do it and pray?

Thank you

I got the joke sounded good to me.  I am curious on the city/town its in now.  I see these little motels all over here.  One up north by my rental- sign always says "no vacancy".  I wonder who is always renting in that area.

sounds like a great house hack-  

sorry can't help with your questions though- good luck

Does anyone go through a process of setting aside Cap Ex, Vacancy, Repair money.  Do you put it in a separate account for those things or just track and know the performance in spreadsheet etc...  

. I feel like I do a real good job analysing and have solid numbers- When I then rent it- I know I have the cash flow and the money to cover the mentioned- I would like to be able to answer better how much each unit is cash flowing/performing.

Interested in a discussion as well.  in-person or virtual. 

@Nathan Olds

Sounds like a good opportunity in Houghton Lake if that is what you want to do.  

Get to know that area- look at other properties there on AirBNB/vrbo- you can look at their availabilities/rates and get a little bit of an idea if they are renting out.  Sometimes it is the owner with blocked dates to, but that is a trade off if you plan to use it as well.  You can buy software too, but I found for just one it makes sense to get a good feel for it manually first.

Play around with number in a spreadsheet of average rate/ and days rented/year.  You will get a good feel from there.   

don't forget if you have property managers and airbnb vrbo all take their cut.  check if there is any ordinances in that area.  You can also do Medium to longer stays in off season if you don't plan on using at that time.