All Forum Posts by: Kenneth Freire

@Kenneth Freire She’s only licensed to do non-owner occupied properties however I know a bank I can set you up with that does 100% please PM me and I’ll connect with him.

Just PM'ed you. Sorry it took me so long. I didn't realize I had notifications off!

0 Votes

Minneapolis, Minnesota

@tim

@Tim Swierczek How high does she go for owner occupied? I was about to go with lower.com for 95% but open to doing someone local.

1 Vote

Minneapolis, Minnesota

@Bruce Runn I appreciate you bringing this to a rookie REI's attention. :)

You are right that I rarely raised my limits until a vacancy occurred but now it'll just push me to increase 3% every year while coming up with creative means if need be.

2 Votes

Minneapolis, Minnesota

@Cliff H. that TP advice had me rolling. lol Great call

3 Votes

Originally posted by @Scott Jensen:

I would recommend contacting Adam Tafel. He has several AirBnBs and manages them for others as well in the Twin Cities area.

Thanks for the connect! I will hit him up.

0 Votes

Originally posted by @Jayson Bell:

@Kenneth Freire I have both STR and a long term. For the STR Summer months we gross 5k a month but the winter we are lucky to cover all our expenses. Over all yes the STR is more profitable but it is not what I call passive income. There is alot more work that goes into it. We are looking to add more long term rentals to our portfolio for a more passive income. I guess it would depend on how much time you want to put into the property.

Thanks, Jayson for the insight. You def. hit on 2 of my biggest concerns, the Amount of work & winter season as I live in Minneapolis (if you have a hard time getting people in FL imagine MN, lol). Currently I have 2 kids and 1 on the way so it seems like doing a LTR property might be more beneficial at this time. Still doing my market research though!

0 Votes

Originally posted by @Daniel Devin Jewell:

@Kenneth Freire

I did Bnb for a few years and I would definitely keep things as a long term rental.

Bnb you need a hole team and what not to keep making money and if that team is messed with then you stop making money.

To me I don't think it's worth the work compared to long term rentals.

At least not in the area your in.

Thanks for the insight. As I've been crunching the numbers today I'm leaning towards keeping it a long-term rental. I just reached out to some individuals in Minneapolis who have Airbnb's and going to ask them several questions to see if I'm missing anything. I'm also looking into doing a hybrid like Airbnb / traveling workers websites (i.e. traveling nurses). I know they are always looking for short term rentals. So wondering if this might be a good avenue too.

0 Votes

Originally posted by @Marc Rice:

@Kenneth Freire

If you’re a studio or 1bd I recommend it, if it’s a 2bd it could beat market rent. If you’re in a vacation destination the bigger houses can also do well.

i should have clarified it’s a 2 bd 1 bath

0 Votes

@Matt Higgins when I first inherited the renter he was paying $800 a month so I’ve slowly been increasing rent. I can keep iii posted on what I decide to do!

1 Vote

@Daniel Anshus I’ll dm you for more info on rental arbitrage. Thanks for the insight.

1 Vote

All Forum Posts by: Kenneth Freire

Kenneth Freire has started 3 posts and replied 28 times.

Post: HELOC on rental duplex in minneapolis

Post: HELOC on rental duplex in minneapolis

Post: Minneapolis and Saint Paul pass rent control!

Post: Biggest Mistakes/Lessons Learned: Short-Term Rentals

Post: Should I get a normal renter or Airbnb?

Post: Should I get a normal renter or Airbnb?

Post: Should I get a normal renter or Airbnb?

Post: Should I get a normal renter or Airbnb?

Post: Should I get a normal renter or Airbnb?

Post: Should I get a normal renter or Airbnb?