All Forum Posts by: Huiping S.

@Michael Baum

Maybe we are over-reacted from the bad experience. the 99% of our guests are normal family: come to Florida and have a nice vocation. Those people are happy and we know how to work with them. 

Have thinking to change to long-term although the booking is good. Compared to short-term, long term is easy. 

Last year there is one group they hind one dog but that dog bucked so much and Ring recorded it and they used bowl and plate of kids for dog and disconnected Wifi to prevent us know they have dog. Dog trash on yard; cigarette butts on yard.

Since then we dislike booking from VRBO and dislike work group. 

With few years, we occasionally got a quick book by a group of people with trucks and tools. The property is good for a family . Once this kind of group hind a dog to a pet-free property. We have welcome comments for family but we felt can't say: only family.

How to prevent this type of booking? 

We dislike VRBO bookings when the dog group from VRBO, and VRBO hind guests information, change an email to be a new guests so bad review will not available,  and felt 0 support for hosts.

Thanks to share your experience.

One before retiring lady is one of our tenants. The house is a very cute brick house with all high quality staff. This property normally be rent out within few days by the first qualified candidate. She moved in with her young son. 

Good thing: she paid ahead and every 2 weeks she paid. Keep the cute house neat inside and out.

Annoy thing: since she moved in, she asked to replace dryer, then dish washer(said after washing will have water spot on dishes), then clogged under kitchen sink after Thanksgiving, add light... finally we had a quite holiday.   Few days ago she asked me to buy filter for refrigerator which be replaced just before she moved in. Among all tenants, she is the only one to ask me to buy this filter which I didn't have statement on lease. 

Next day she did this: send me the power company's rejection of discount for her electric bill when the house's thermostat is not smart one. She asked what do I think when she can get discount from her previous landlord. 

I read the message but didn't reply. She wanted to save money and asked me to spend it. I know she send that to me and wanted me to pay for it.

If she will not ask so much within few month, I will upgrade the thermostat. I felt she is training me to do all she wants and I dislike to have a high maintenance tenant. I will only repair necessary until the lease end and no renew.

Mistake we made: she complained her previous landlord and said no upgrade for her. This is a red flag. She wanted to upgrade everything since she moved in.

Please share your thought what will you do for this type of tenants. Thanks.

Updating:

We have LLC of SDIRA and no-LLC both. Now can see the difference:

1)When I transfer money to the LLC, this account was charged certain amount of fee by the custodian. Since then I manage it like a regular bank account when I have check, debit card, including I pay any service and have interests.

2) The SDIRA without LLC, the custodian charges fee for every bill, such as a HOA which should give us an option I pay online but the custodian quickly paid and charge a fee. If I need to buy a washier in Costco, I can't get payment from them for this purchase. They will pay only when I have a contract, such as to install a gutter for this SDIRA purchased property.

    Worse than this: the funds left on this account will no any other option, such as get interest or to buy some ETFs when the amount is not enough to purchase more property yet. I didn't try note yet.

LLC or checkbook LLC is much easier to manager and higher return on current market: any funds will get interests, incentive to open account, and I can invest ETF. Didn't try note yet too and is learning it.

We have accounts with one SDIRA(Has office in local) but dislike it for a long enough time:

1) the agent be assigned to us is helpless but always gave us be pushed  to the corner feeling. She will never tell us any information clearly but every time is the last minutes 'scaring' information/news. 

2) We asked the question but her reply just like a brain wire twisted robot. The email is super long and full of junk which will show on each email. So difficulty to locate the one piece  useful information. 

3) For non-LLC SDIRA, the cash can't invest for anything and no interests but real estate only. When we opened the account, the sale agent said this: different from Fidelity is not only you can buy everything in Fidelity but also real estate. The truth is not(keep the story short)! We understand the sale person tried to get customer but this kind of difference is too big.

Can we switch to a different SDIRA company? 

What extra attention should we pay to prevent be hurt further by the current SDIRA company?

Thanks.

We have multiple states properties and LLC for long term and short term rentals, and self-directed IRA(LLC and not LLC). Our previous was confused for the non IRA LLC tax but not have self-directed IRA of LLC and non-LLC. Lawyer suggested to have a CPA really understand self-directed IRA.... we have to look for new CPA also....

We buy a brand new home and 3% commission. Since put the down payment, we had pre-drywall inspection and communicate with new home field manager for issues and concern on the inspection report and all be addressed, including the only 2x6 beam. Except the time with inspector, we came again and again to check what inspector told us to video and follow up. We keep all the video for future reference: what is behind drywall. We will have inspection before close again. We will not waiver those inspections although it is a big builder with warranties. I would rather ask the realtor to do those work for the commission when Florida house is not so expensive and not so much commission.

Good topic. Will add a chain on one grill in yard when one bachelor group moved it from original place. Never know what in others mind.

@Michael Baum. Yes it is. If we brought it with today's interest and price, we lose money and have to stop this short term business. I asked the agent to quote again from Proper when the over $7000 is from Foremost, but not so positive for the price.