All Forum Posts by: Account Closed

@Guifre Mora unfortunately it looks like this option is only available if you order a minimum of 50 units. 

@Guifre Mora Thanks for the link! I will definitely check this out!

Hey BP -- I have a handful of short-term rentals and have them operating pretty smoothly. The only issue I seem to be running into is keeping people from smoking inside of the units (here and there). I'm looking for proactive ways to deter guests from doing this as I have several units within one building and want to avoid pissing off the longer-term tenant neighbors. I know you can require deposits, but I have found that this can deter guests from booking and when we did, our bookings declined. Does anyone use air alert monitors in the units or anything that is able to detect cigarette smoke? We are beginning to post "NO SMOKING" signs in the units with a note that says "$250 FINE" (knowing full well it's doubtful I could actually collect that). I know there is not a "solution" necessarily to this issue, but am asking those with experience for any tips/suggestions that could alleviate the problem to a degree. Thanks in advance!

I read Millionaire Next Door every year. It helps me to focus my priorities and avoid needless spending so I can achieve my goals. I'd love to drive around a brand new 4Runner because they look so nice, but my '06 serves me just fine and I don't care about a small ding in the back door. Because of small life choices like that and learning those things early on, it's allowed me to see that I'd rather put the money I would have spent toward a car back into investments so I could buy 10 4Runners if I wanted to (which I won't lol). It's a must read IMO and I gift it to a lot of friends of mine who have an interest in REI.

Hey @Ryan Resides, welcome to BP. Awesome place to learn and you'll see a lot of topics on Columbus here. Feel free to reach out if you have any questions, always love to talk RE. Best of luck!

@Remington Lyman I call that TUITION. Everyone on here has made dozens of mistakes and in doing so, we evolve our business and investment strategies. It makes us better. It certainly won't be the last mistake you make, but take all insight (some with a grain of salt) and learn and improve! I know you will!

@James Lewis This article, published today in the Columbus Dispatch, talks about areas of opportunity in Columbus, OH. It's a promising sign as some of these areas that rank high on this list have often been cast off as not worth a look when investing. Seems as though things continue to change year over year. Lots of opportunity here--exciting times!

@Wilson Lin if you buy this property at $350K, when Franklin County reassesses your taxes (as they do every 3 years) your taxes will jump to nearly $7,500. I would also increase your snow removal and lawn care per annual. 

@Bradley Fisher I think you are in a great spot to invest. My advice, do it now before you take on more responsibilities (kids, etc.). A lot of my friends would love to jump into this but they have tried to jump in a little too late and have way too much to lose and the risk isn't worth the jump for most. I also would caution you against waiting for a downturn in the economy (dependent upon where you are looking to invest) as that might not happen and you might end up on the outside looking in. I agree with @Chris Levarek above--I would encourage you to take the advice of those mentors of yours who have, not just an opinion, but experience in the investing world. Best of luck!

@Thomas Harr I’m always an advocate for holding but if you have another deal or 2 you could jump into it could be worth considering selling (but only if you can 1031 it), especially if you are starting out and want to jump into more deals and rid yourself of your preliminary debt. Merion Village is a solid spot, however, and prices will no doubt rise. It’s probably a case-by-case situation with this, but the good news is that you have options. Best of luck!