All Forum Posts by: Jayson Cain

I've been a host for 6 years and I haven't found the need to offer this to my guest. I do make sure that I my home insurance cover my property operating as a Short Term Rental though. On top of that, I have an umbrella policy. 

Palm Springs has a lot of restrictions, but you can definitely make it work. 

Hi Alfred,

Are your leads small mom-and-pop buildings, or REITS? Depending on who you're calling, you may have to change your script a little. Also, during initial calls, I would not recommend mentioning STRs or AIRBNB. Instead, focus on the type of guests you're wanting to place in these units. This is usually the biggest concern landlords have when leasing to operators trying to arbitrage and they're afraid of people partying and damaging their property. Just have an answer for all the pushbacks they have. Other than that, keep at it man. You'll get better after each all.

You can try the BRRRRSTR strategy if you're comfortable rehabbing properties. This way you an take out most of your initial investments. You may still have a sizable PITI, but at least you won't have a lot of money in the deal once you're operating as a Short Term Rental.

In theory, as long as there's a hotel within 10mi radius, you can set up a short term rental. 

In practice, I would recommend investing in areas where there is already an established ordinance for Short term rentals that are lenient. 

When buy properties that I turn into short term rentals, one criteria I have is that the numbers need to work as long term rentals as well. 

Welcome to the community! You definitely have the right mindset of taking more action that getting the perfect deal. You will learn a lot from taking action and lose a lot from inaction. 

I invest in Southern California and Indianapolis both Long term and Short term rentals so let me know if you have any questions about those topics and I'd be glad to help. =)

I would recommend talking to a lender of that 10% downpayment product first to see if they would be ok lending on an LLC. Vacation-type loans are usually not used for business use.

Hi there Dimitri! 

We have a small group of newer investor that meets virtually every Thursday 6PM pacific. We are not in Nebraska specific, but we all invest in different markets. We just share knowledge and solve issues collectively as they come up. Let me know if this is something you'd like to join. 

Blessings,

Jayson

Not a silly question at all. One factor you did not mention is your income. If you have a high income, you might qualify for some loan products since you have a good FICO score. 

If you're starting out with 100K with the goal of getting the best ROI, I would suggest starting with a rental arbitrage. I don't recommend this to build wealth, but if you're only goal is return, this would be a good way to start. The money would go to initial set up and first few months of operation, but if you do it right you should be positive after 5-6 months.

Once you have enough capital for a down payment, but your own units and then plug those units you own to your STR system.