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All Forum Posts by: Jennifer M.

Jennifer M. has started 5 posts and replied 14 times.

Hi BP community,

I came into an investment opportunity that I need to either raise or borrow fund for. Which is easier and faster to get into? A hard money loan or finding investors? 

it's a small apartment complex with less than 10 units in a desirable California location. It's been poorly ran so has a lot of upside. I'll probably need about $1.3m +/- with me putting in $500k+ of my own funds. I need to have funds within 25 days to close on this deal. 

How do i go about getting funding for something like this? I never looked into hard money loans or how to find investors since I've always had traditional methods of funding.

But did Costco and Sam's Club sell the small hand soaps? I didn't see them. Or the small shampoos and lotions?

Hi there

Where does everyone buy their toiletries? Looking to buy hand soap, shampoo & conditioner, dish soap and other toiletries items for STR?

Post: Trust

Jennifer M.Posted
  • Posts 17
  • Votes 5
Quote from @Jason Ramer:

Hi Maria,

This can be a large area of investing here, and some investors have an opinion one way or another. You definitely need to find a good lawyer you can work with to do the paperwork and make sure it's correct. Find someone that will take the time to explain the steps to you, and one you feel comfortable working with. (I selected 5 in my area, and did an initial phone screen before meeting them.) I found one within that group which worked well with me. I'm not a lawyer, and I'm not giving legal advice, but it sounds like your understanding is somewhat correct. In my case, I created an LLC for each property which is "owned" by the Trust. This creates a dual level of ownership, and which the Trust is in control of the properties. My Lawyer set up the entities, and I used a quit claim deed to move the properties into each respective LLC (each LLC was owned by the Trust). My lawyer did all of the work, and I have all of the documentation to back it up. I have to use a P/L for each LLC, and cannot co-mingle money from one LLC to another. Each has to be operated as an independent business (thus having separate to file separate taxes for each ID#). I hope this helps, but I would really recommend pursuing a lawyer which will work for you. Have fun. Thanks for posting!

Hi Jason, did you have any mortgages on the properties you deeded to the LLCs? If so, how did you get around the Due on Sale clause?

Hi BP communities

I recently purchased a home in my own name and was wondering if I could lease the property to a single member LLC, partnership llc or a other type of Partnership, who would then use the property as a short term rental.

I'm looking for asset protection but cannot transfer the property into another entity without triggering the Due on Sale clause. Not sure if this position would stand against the business purpose and/step transaction doctrine. 

What if I transfer the property to a trust? Trust rents to LLC/LLP or dies short term rental itself?

Do i have any options?

I also have a property in another state (NV) that is currently under a traditional long term lease.

Quote from @John Underwood:

I kept checking and a local Home Depot had a schlage encode lock.


 John, that's exactly what I did. Went up to the home depot to check if they had the Schlage Connect and to my surprise saw one hidden Schlage Encode box on the top shelve. I was so thrilled!!!!

Quote from @Clara Brechtel:

Hi Jennifer,


You can use a software called RemoteLock to integrate with most locks including Schlage, Yale, and August locks. Once you have that set-up, RemoteLock integrates with most channel managers (I use Hostaway) and will automatically create a code when a new booking is confirmed. Then the code gets pushed to your channel manager and you can create an automated message to send the code to the guest. 

Thanks Clara. Very helpful

I hate to do this since every post I looked up always says there's tons of other post on this issue, but I'm starting to feel like I'm getting no where.

I'm looking for a smart lock I can control remotely and can auto generate codes with start/expiration dates. Everyone seems to really like Schlage Encore, however I cannot find one anywhere. I read that the second best is Nest x Yale, but no one explains how it integrates with channel managers and/or calendars. I was able to buy a Nest x Yale but have no clue how it'll all connect. After those two options, I see a little bit about Schlage Connect and Yale Assured (z-wave). Both of which are also difficult to find and/or not a lot of info of how it integrates with booking systems. 

Please assist.

Quote from @Michael Baum:

 Hi, Michael, how often do you change your sheets and towels?