All Forum Posts by: Juliette V.

I'd be curious to know where 'home' is for him, though?  Sometimes especially if you live in SoCal--buying property with $50,000 is hardly anything...

OK, this is wonderful!  But, how are you getting funded for all this?  I'm curious to learn about funding opportunities...

Chase quick pay....do you have to have a Chase bank account?

I'm renting my condo furnished for 3 and a half months to two traveling nurses.  My condo is in San Diego.  I'll be living in Nashville during that time....

I have 2 handymen on call and available to the ladies should anything in the condo need fixing, etc.  So, no official property manager.

So, my question is ....Advice on best and most efficient ways to collect rent given this situation?

Damien, thanks.  That's what I thought and read, but wanted to double check on here...because I realize it can get tricky.  I know this may be a hard find and something that rarely comes across...but if so please keep me in mind....a home with a fully equipped guest house?  Could be perfect additional rental....

What are the tax laws on rental income in the state of Tennessee?

What a nightmare!  So sorry to hear this happened.  What was your screening process like for her....?  When meeting her and reviewing her background did she seem like a solid, upstanding young professional?  I'm new to all this myself, and learning....

So how did this all end?

I live in San Diego-a destination city for many visitors.  I'm moving to Nashville in September, and my tenant who rented my spare room and bathroom for $800/month left--and had no income from that for July.  I was struggling and stressing out and wondering HOW can I make some money-fast-to help pay the bills so I'm not stressing about my move, etc.   It hit me--rent my space out.....I decided to start renting out my spare room to people passing through San Diego (airBnB) and also posting my condo entirely as a rental on VRBO.  The first day my post when live which was July 16th, I was bombarded with requests (65 requests in 3 days!).  In fact, my space is booked from July 16th-27th.  In that time, 3 people will have used my space. I'm making more money in those days then what I rented it out for an entire month!

I'm only doing this for 6 weeks, through August because I need $$.  I have no other way to bring money in besides using my Real Estate to help me produce income. 

I even posted my space on a site that welcomes students who are on an exchange 'just to see if I got any bites', and because I'm so close to 3 universities, I've had students interested 1 to 3 months to study or do an exchange that need temporary housing.  Except they can't afford much, so it doesn't make sense for me to rent to them when I can make that $800 I would earn in month renting to them in 1 week.  

But just those requests got me thinking about future RE purchases and ways to make money....Perhaps putting 2 twin beds in a room or a bunk bed, and renting it out for 3 months to foreign exchange students.  One room would produce $1400/month.  In Los Angeles, homeowners do this all the time because people are coming and going from that city, and many don't have a lot of money for rent, 1st & last, etc.  

Is this a possible idea?  Has anyone else done this?  Concerns? Rewards?

This new experience got me thinking about vacation rentals too---do you have any ideas on solid vacation markets-where RE is still affordable, but the demand is very high?

Anyone have any vacation rental stories to share?  Liabilities?  

Hey @Robert Leonard yup hear you about the SD REI. That's why I'm not investing here. Does not make sense at all--prices to high and rents not high enough.

As for journalism and country music, I'm a HUGE fan of country music-since I was kid.  I host a country music radio show out here in san diego, I freelance for Country Weekly magazine, interview celebs all the time, go to red carpets, yeah.   I've been going to NASH for 5 years straight-that's why I know the area well.  I really want to invest in Middle TN...I love it there. 

But, I really need to come up with a strat and stick with it!