All Forum Posts by: Edward Acker

Has anyone ever applied for an sba7 small business loan and applied it to one or more rental properties. Specifically refinancing debt/loans?

I am a new landlord that is inheriting tenants. Just trying to get some overall opinion on online sites for applications and background checks vs going old school and having them hand fill out applications. Any and all recommendations and opinions are welcome and appreciated. Thanks in advance

Novice investor, trying to keep costs down but do not wanna lose my shirt. I own my personal residence plus two rentals and in contract to buy a third. The other two rentals were originally purchased in my name because they weren't supposed to be rentals. I am trying to secure my finances for my family. Tax advantages are good but protection of my assets for my family is the most important thing but I dont wanna go broke with LLC's and HOI here in Florida either. All thoughts and experiences are greatly appreciated!!

Scenario: buying a 400K SFH that was already doing a decent airbnb business. Possibly selling a townhouse with HOA issues that will leave me with some profit. If townhouse sells after the airbnb property, can I 1031 exchange the townhouse funds into the the SFH?

both properties are alike in price but the airbnb property is less expensive by 40-60 thousand. "IF' you can do the exchange in this scenario where do the funds have to go?

-Pay down principal? Upgrades? or just into the bank account of the property?

Thanks to all in advance!!!

Quote from @Michael Baum:

Hey @Edward Acker, another vote for self management.

Avoid Vacasa and Evolve. Neither have the best rep and will often lowball your listing just to get bookings. Even if it is well below market.

Also, if you go with them, they own the listing and the reviews. If you decide to go another direction, you have to start over.

Do you use any online tools to help with pricing? Pricelabs, hospitable, etc?

Hey all, wife and I are getting into our first STR in Bonita Springs. Wondering if we should learn the bumps in the road now and try to self manage with some recommended tools or to put our property in the hands of a Vacasa/Evolve/Awning type company or maybe a professional local outfit? All opinions welcome… TIA

Just looking to see specific LLC information for owning investment property in Florida. Recommendations of attorneys or if you set it up online yourself and any other relevant information.

Quote from @Jaren Licalzi:

If youre looking in central Florida i get 15-20 a week opportunities a week.

Hey Jaren, I live in Naples but the market here is not conducive for beginners. Would love to know about which neighborhoods in Tampa or nearby that are up and coming/target areas. 

Quote from @Alecia Loveless:

@Max McQueen Figure out what types of properties you want to buy then find a bank that will lend money in those to an LLC.

I've done all sorts of loans with my smaller local bank from SFH to 8 unit deals to many In between but in my personal name. They won't lend to LLC with conventional financing.

Interesing, I have some properties held the same way but only because when we bought them they were for personal interest not investment. What is your strategy fro protecting yourself if something were to happen? Im just a newbie soaking up information.

Just looking for info/tips on how investors are insuring homes in Florida who do STR/AirBnb/VRBO if you are holding a mortgage?