All Forum Posts by: Hamish Simcock

@Joe Scaparra

Hi joe,

The main reason we decided to sell is because we want to Pursue more multi family now. Our duplex does really well and it gives us more capital to put towards our long term plan, just to clear things up!

 Very nice! Congratulations on your success!

Thank you for the feedback, we appreciate it!

Thank you!

The property is in WI. Are your properties vacation rentals or multi family?

 Are all your properties vacation rentals or do you have multi family as well?

$120k is net after renovations etc. One of the reasons we decided to sell is because it is over an hour away from where we live and we could not source cleaners etc, so we have been leaning more towards purchasing more multi family. Do you prefer multi family or vacation rentals?

We just finished a vacation rental property about 6 weeks ago. We originally purchased the property to renovate as an Airbnb, but got a great offer from a buyer so we ended up selling.

We are curious, how long do you keep your vacation rentals before selling? And has anyone had much success flipping vacation properties?

We are tossing the idea of doing another one as a rental or flipping the next. We purchased the lake front property for $228,000 on a commercial, 20% down loan, put $50k into the rehab and walked away with $120,000 in profit. The property was originally 2 bed 1.5 bath, we converted it to 4 bed 1.5 bath, finished the basement to add a pool table and mini bar, and updated kitchens, bedrooms, bathrooms, roofing and siding etc.

Would you guys book a trip away at the property? We are always looking for feedback so we can improve. We have included some pictures below. Let us know if you would like to see before and after pictures.

Many thanks!

@Steven Westlake

I only DIY if:

- I feel like it (want something to do)

- if I have the time and it will get the job done faster

I prefer to have professional do the work who can get it done much faster than I can. But it also depends on the time frame I’m working with

@Kristyn Grimes

Tenants having family/ friends stay for extended periods of time without requesting permission. I generally write it in as black and white as I can and have even added clauses in to increase their rent for the months that they violate it to offset extra wear and use on the utilities in the property.

I had a similar situation with property damage, one of my tenants flushed a medicine bottle down one of their toilets and backed up the whole plumbing system. 

It started with a notice of quit (like Patricia said), however I managed to get them to sign it also. Try and get them to sign if you can acknowledging the letter.