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All Forum Posts by: Greg Todrank

Greg Todrank has started 34 posts and replied 86 times.

Post: NEW STR coming to market algorithm optimization

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

Get 5 reviews as quickly as possible.

Post: MI Short-term Rental Association

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

I just got an email from VRBO about joining MISTRA. Does anyone have any experience (good or bad)? Benefits?

Post: I bought Schitts Creek.....I bought a motel, now what?!?!

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

@Jonathan Mueller — we’ve been very happy with the properties. At this point, businesses are doing well with many new contracts and the port improvements (if that actually happens and isn’t just an election year promise)

Our long terms have also been mostly on auto pilot, but our STR has performed well since launching mid-July.

Lots of remodel during turnover in the LTRs. Good investment, but cutting into cash flow quite a bit initially.  The problem with older homes.

Let’s talk when you are ready to move it.  Prices have continues to rise.  We’ve only recently had a bit of pullback.  Not sure on the $400k, but I can put you in touch with my realtor and others in her office. 

Post: Mixed Use Insurance (5 residential over 2 commercial)

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

I do not. I’ve emailed a couple people I’ve dealt with for my other properties.  No responses yet.  Thoughts on the best way to identify agents for MI?  The property was built in 1890, but has been extensively updated. 

Post: Mixed Use Insurance (5 residential over 2 commercial)

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

I need some help with companies that I can contact that would be good for mixed-use insurance.  I am bidding on a property that has 5 residential units over 2 commercial.  It is a 9000 sqft building.

Post: Property Management - Paying Owners

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

I've run into an issue with how to pay a client for STR hosting/PM. I would like to do it electronically, but I'm butting up against monthly limits in Zelle.

During high season I will be distributing $10k+.

Anyone have direct experience they can share? I don’t want to send a check as much as she doesn’t want to receive one.

Post: I bought Schitts Creek.....I bought a motel, now what?!?!

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

@Jonathan Mueller We haven't spoken in a while. Just checking in on how the Bay Breeze is performing. I've added to my portfolio: 2 LTR, 1 STR - Menominee, 8 LTR - Marinette.

Post: BiggerPockets Pro Partner Update - Stessa!

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

Has anyone had any issues accessing Stessa website from Win 11?  I just bought a new laptop for my bookkeeping and all I get is a spinning icon after login.  Stessa support has so far been unhelpful.

Post: Stessa Pro -- Pay for features

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

Looks like Stessa has finally gone the way of the world and put all their essential functions under the "Pro" umbrella for $20 / month ($16 billed annually).

I'll probably make the investment.  Does anyone have anything better that they are using?  My CPA uses Quickbooks, but I like all the real estate functionality in Stessa.

Post: Property Insurance for flip

Greg Todrank
Posted
  • Rental Property Investor
  • Bloomfield, MI
  • Posts 86
  • Votes 33

I’m having a hard time getting a simple policy for a property I close on next week. The current plan is to fix & flip.

I’m looking for an inexpensive policy for an uninhabited property while I’m doing rehab.

Anyone have a favorite carrier? Property is in Michigan.