All Forum Posts by: JJ Williams

For all my seasoned flippers. We are currently starting to do flips to fund our STR acquisitions, are people typically buying properties through wholesale or using a realtor?

we have a realtor we like but curious how badly that effects our margins vs the expertise they bring on the market we are in. 

Considering buying a property on the Lake of the Ozarks in Camdenton. Having issues finding specific STR laws for the city.

We are considering taking cash into our business to season for down payments on new properties. We are able to borrow the money at 5%, however the lender also wants a small portion of cashflow (not equity) from each property we buy. Looking for suggestions on the best way to structure this. 

We are having issues with a painter. We were talked into paying in full (we know we know!)

they came and started, getting 50% complete and have been finding excuse after excuse to push us back. It has been unfinished for 3 weeks. We told him if it was not done by a certain date we have someone else lined up to complete and will need 50% back. 

They left alot of equipment on site. If they do not pay are we legally able to keep their equipment as collateral? 

Looking for an agent in this area familiar with STR laws/restrictions.

Yes we have 6 listings and 1 cohosting property in the city. The alder people who have been working on the regulations seem pro STR they just want regulations in place due to several incidents in our downtown area with parties and violence. The issue is you can only have 4 permits so thats where my question about multi family (that they did not know) comes in. The below statement is in the bill which is hopeful.

"The city hosts large conventions, events, and has some of the nations leading attractions. The additional availability of diverse lodging options helps enhance the citys competitive position to attract such events that spark the citys economy and STR guests are more likely than any other visitor to support local business."

As an update the messaging system Airbnb came out with is absolutely perfect for our needs. VRBO is not strong in our market so having the one platform with what we need works great.

My city is planning to pass along some STR regulations. I asked some questions about the verbiage and they didn't know the answer quite yet. I know every city is different but I'm curious what other people are seeing.

For anyone who has permits for STRs. If you have a multi family do you need a permit for each unit or just the building typically?

General question on “owner occupied”. If I have a multi family and live in the building is that considered owner occupied or does it actually have to be a room in your space?

Love! Great job.

My wife and I just brought on our first co-hosting client. Wondering if anyone has a sample of a contract we can reference as we get everything together.