All Forum Posts by: Joe Tomko

I recently discovered TentRR, which is kinda like VRBO/AirB&B for camping/glamping. It's a way to make raw land cash flow.

Do any of you have land where you've tried this? Does anyone have experience with TentRR?

How many nights per year does it actually rent and in what state? Weekdays also or just weekends? I'm in PA, so I'm thinking I may have 5-6 months of camping per year. If I can make raw land cash flow with minimal investment, I may pursue it.

Thank you, Bill.  I know when ABB first started, a lot of cities were restricting them, but I thought a lot of places have eased restrictions because the demand is there (and the property owners vote).  Would you say the trend is still toward more restrictions in most places or less?  Obviously, I need to check on the local government wherever I plan to invest, realizing that things may change at any time.  If there is a move toward more restrictive, would you expect a grandfather clause for those already established as STRs?

I will soon be rolling over a 401(k) into my sdIRA and I want to use it to buy one or more Air B&Bs.  How do I decide where demand is highest (i.e. there are not enough units versus renters) and whether rents/occupancy will pay my mortgage and other expenses each month?  I do not need to invest near where I live.  Do I care about mountains (skiing, hiking, etc.), beach, lake, golf destination, national park area, city, or other?

If I decide mountain, should I look at Park City?  Breckenridge?  Vail?  Whiteface?  Other?

If beach, Gulf coast, Florida Keys, Atlantic Ocean, Hawaii, other?

SFH, duplex, condo, townhouse? How many bedrooms and baths (like 2-3 bedrooms for a small handful of guests versus a big place for family reunions, corporate retreats) should I look for?

How do I best diversify?  Multiple property types, multiple locations, multiple quality levels, or some other manner?

Will I need 20% down payment plus the costs of furnishing the home?  As it is an income producing property, can I get away with less than 20% down with a bank?

Presuming I put down 20% and let's say I have $150k.  Generally speaking, would I be better off buying  a $750k unit, two $375k units, or maybe a $250k unit and a $500k unit?  How much should I expect to front for furniture, bedding, kitchen tools/flatwear, artwork/tchotchkies/other home-y items?  Is laundry key?

Is there an Idiots Guide to Air B&B or Air B&B for Dummies or some other resource that can answer most of my questions?  I reached out directly to Air B&B and didn't hear back.

Thank you!

Sugar Momma/Sugar Daddy?

Run away from Equity Trust as fast as you can! They are simply awful. They are incredibly slow to process paperwork, it is very difficult to get ahold of the right person to help you, and they are amongst the worst companies I have EVER worked with. Personally, I have my SD IRA through CamaPlan. I have nothing but good things to say about the individuals working there and the company as a whole. There are many good options, but I like CamaPlan. Simple, quick, reasonably priced.

Hi, @Brian P Carolan I cannot answer your question per se as I am not a securities attorney.  I think you are best served by not skirting the laws.  It's never a good idea to get cute with the government with unlimited resources to make your life miserable.  I agree with Taylor L, below.  If it were my deal and an accredited investor brought in a non-accredited investor through the back door, I would likewise probably return his investment and force him out of the deal, as I wouldn't want the scrutiny of the SEC.  

It may be better to approach the person with the deal and explain your situation.  Inquire about other deals that they or a colleague may have where you would qualify.  You can also inquire as to whether they would offer the same syndication in a fund whereby you would qualify.

@Diana Tian at that point, he won't be dealing with the house anymore. He'll basically be the bank. He can also sell the note for cash after creating it.

@Alex Mendoza Have you looked at other investments aside from residential rentals? The are so many other options that may be better. Personally, I buy delinquent notes and find that to be better than when I owned rentals.

@Diana Tian sell it with seller financing with a contract for deed. Have them put down $2k or more, then charge 9.999% interest. Good luck.

@Cam Jimmy Is the a companion bill exempting landlords from paying their mortgage? What does the bank do about being sorry on funds? Typical government (both parties), kick the can down the road.