All Forum Posts by: Eric A.

Dave, I look for a minimum $2000 per month cash flow per property. Do some fall under that figure? Yes, but that’s my target number and it takes a ton of deal making and negotiating to make that happen. I think it’s a great idea to market it to an AirBnB investor but if your are spitballing a 4.5% rate on a non owner occupied that’s just not going to happen. Especially, with no pro forma statements on current revenues and expenses. I focus on terms and cash flow on any deal. I could care less if you want to sell it to me for $480,000 or $350,000. If you will finance it at $1,000 a month for 360 months and a balloon at 10 years we can do a deal this evening (yes, I have done a deal exactly like this on a beautiful property). So, a ton of moving parts, but I love your creative ideas. Best Regards, Eric

It’s really all about the numbers as always. I have owner financed several properties throughout the years because I hate banks.

I would be extremely careful in several markets in Florida. There is a deal found or made every day but we are at the top price wise in several areas. Interest rates are rising and it’s the perfect time to buy way too high. I have learned this the hard way, so take my advice. Also, do not believe any realtor who tells you otherwise.

I personally would not buy that property as an AirBnB. Not enough cash flow for the amount of work. 

Air BnB has a much better process for check out and directions. It’s in the guidebook and it can be messaged to them at any point before they leave. VRBO’s attachment option is very antiquated and in my opinion unprofessional. VRBO is no longer an innovator and looks to copy Air BnB. 

It really doesn’t matter because smart people will make a killing. 2008 - 2010 was the best time for real estate ever if you were buying. I know people who have quadrupled their money in less then 10 years. It’s all how you perceive your surroundings.

I would rent that short term all day long. You can easily get $150 a night and if you’re getting less then $2000 a month for rent it’s a no brainer. I would contact HR at Microsoft and let them know you are in walking distance for contractors. You are sitting on a great investment as long as it complies with local ordinances. 

We just discontinued all our HomeAway listings because of the fees and their horrible customer service. Air BnB is quadruple the amount of active users and such a better platform. They are always trying to copy Air BnB which tells me they really lack innovation. We found that the majority of HomeAway guests in our properties around the country are one week vacationers once or twice a year. They tend to be demanding because they don’t travel much and think they should receive hotel service at a much lower price. Air BnB vacationers are the opposite in most cases. Again, this is in our markets which are year round destinations. It’s sad to a certain extent seeing we were some of the first VRBO listings in our areas. I guess times change, and so does the marketplace. Best Regards, Eric

Josh Stack it all comes down to the numbers through exhaustive research. It doesn’t matter where the property is as long as it cash flows. I am not a fan of having others control expenses i.e. HOA fees, assessments, etc. Best Regards, Eric

Adam, Send me a private message and I will share with you a bunch of information. Here are a couple points on getting started. 1. Go to Facebook marketplace and look for all your furniture. Type in Pottery Barn and start negotiating. The value of used furniture is next to nothing for the seller and you can score some great deals on items. You can easily buy a Pottery Barn sofa for less then $100 and you market your place with Pottery Barn, high end furniture. It works, trust me!!! 2. Go to your local Bed Bath and Beyond or home goods store and ask for the manager. Ask about close outs or discontinued luxury or high end sheets, towels, or linens. They will have something 75% off that is awesome. 3. Buy a decent mattress and put a topper on it. If you ever stay at Ritz Carlton, Four Seasons, etc. that’s exactly what they do. A luxurious bed for a fraction of the cost. Shoot me a message and I will help you out. Take care! Best Regards, Eric