All Forum Posts by: Doug Pintarch

Our 2 STR's are in Delaware and they have additional forms required if you rent long-term...liability and disclosure and security deposit and blah, blah, blah. We have refused requests for longer than 28 days several times in the past 3 years. Two adjusted their stay to less and one moved on to another rental. We have a strict length policy and stick to it.

and @Paul Sandhu     

"Take all this with a grain of salt. 2 weeks ago I was drinking water from my toilet for pre-workout coffee because my pipes were frozen and my handyman had my torpedo heater."

You, sir, are and always will be  S A V A G E!!!

Once again I'm lining up with John here.  We only use VRBO and have the same guest restrictions (min age & nights) our in-season rental is a 1 week minimum also (Summer).   We have been very fortunate these past 3 years and have had very minimal issues.

We do not ask the same screening questions as @Paul Sandhu but I may start, just to see what we get!!!

YIKES!    You win @Paul Sandhu !

Good for him, getting out while he still could.

I like @John Underwood 's line of thinking about this subject.   We learned as we went what to do and what not to do with our first, and when we bought our second it was a case of "Duplicate everything that works" and we were up and running in no time.  We planned on more so picking up furniture at sales and stores and grabbing lamps and stuff as we came across them at great prices was something we just did, so the second was over half furnished when we started looking. I have not heard of any service like your proposal.  Doesn't mean it won't work though.

The key is to make sure whatever you decide you get in writing in your operating agreement.

Antonio Cucciniello

This, first and foremost. you and your friend need to sit down and have very frank discussions on what each of you make now and have saved now, including all emergency reserves ("Couch cushion money").   Then get a partnership agreement in writing.  These things always start off great and sometimes friends end up not being friends over big things like splitting equity and small things like what color should the sofa be. True good friends and partners are hard as hell to find.  Houses are everywhere.

 THIS.  Save your own money and buy your own property.  WHEN (not IF) this plan goes south on you you'll be the first one to bail and say "Whew, thank goodness I didn't own that place"!!    People are people, and with no skin in the game they don't care about other people's properties...and as much as they say they do, they don't.

Kingsley, how detailed is your Operating Agreement regarding this situation?   One member wants out...what happens and how does it happen?

@Joshua D. specifically number 5 and @Joe Splitrock entire post...  read these twice and then print them out and read them later.   The city is just waiting for a deep-pocketed idealist to grab this place.   I ride past it all the time.   If you don't have tax-exempt status as "Emperor" of your own religion you better get it if you buy this place.   

@Melissa Bovee

During the first shutdown we cancelled everyone who requested...full refund, no questions asked, no explanations needed. If you felt that was the safest option for you and your family we agreed and didn't give anyone any hassles.  We feel like we got that good deed back in spades when it re-opened out here on the East Coast, our summer and fall filled up completely and we still have a few bookings through Christmas!  

Good Luck with your decision!

@Inessa Stysis  Great post. Your thoughts about "How" wholesalers should be towards investors makes perfect sense, no handholding, it's on them.

As a buy-and-hold STVR investor I am totally ambivalent towards wholesalers, but as our investment goals change in the coming years who knows if we'll use them?