All Forum Posts by: James Watts

@Travis Sperr - Thanks for your response. You are disapproving but didn't seem to make any effort to answer my question regarding a better or more efficient plan. I am asking in earnest so an attempt to balance your negativity with any amount of constructive information would be a better use of this forum, in my opinion.

To clarify a bit, it is a family member that has taken notice of my current success and is willing to entrust me with some funds to continue. It's not entirely 'naive'.  

Looking for suggestions and prices on landlord insurance for a triplex in Little Rock. We currently do short term rentals in our primary residence. On the new property, our provider won't cover it because of the age(1940s), but the price they brokered for us was around $400/month. That seems excessive but I genuinely have no idea. Is there a company that specializes in landlord insurance? Is there one who specifically deals in short term/vacation rentals? The property will potentially be used for both a traditional and short term rental in separate units. 

I'm trying to structure a deal with a partner who will not be involved in anyway. They have money, I have time(and some money that I prefer to save for cash reserves or other investments). Is it fair to ask them to put down the entire down payment and closing costs and then I pay them back at the rate of what the property management would cost for whatever amount of time that takes? Is there a more common or efficient way to go about deals like this? Any ideas or suggestions are very appreciated. Thank you. 

We do the day to day cleaning and room turnover ourselves on 3 rooms. We have a cleaner who comes every 2 weeks to deep clean and take care of common areas and we pay her in cash day of. 

Hey Everybody,

      I'm came here looking for exactly this. I'm here to help and learn from as many people and processes as I can. I'd love to meet anyone for lunch or if a BP meetup starts in Little Rock, count me in.