All Forum Posts by: Kristi K.

We had a couple that booked our cabin for Apr 5-7 but never showed up. Just curious what others would do in this situation. Should be reach out? They booked and paid through VRBO so I do have a phone # for them. We have only been in the STR game for less than a year and haven't had this happen before. They never notified us they weren't coming. Just a no show. I feel like if they had a death in the family or something like that we should offer them a stay at a different date for free since they already paid. Thoughts?

Quote from @Keeya WangJones:

We are excited and now we need a super compassionate investor friendly lender on our team. I welcome suggestions.

 I live in New Braunfels and use Guild Mortgage in San Antonio for my mortgages. Helen and her team are the best! I’ll let you Google them so you know you are getting a legit person, but seriously, Helen is the best.

Quote from @Christina Galdieri:

Hi all- we are in the middle of renovating a house we bought to brrrr. We plan to rent this out in the next month. We completely remodeled the kitchen and rest of the house but think we will leave the bathroom alone for now since it’s not within budget to renovate. How much will this impact asking price for rent if we leave as is vs renovate? We are in N Central Florida. Thanks! 

I would definitely put a new mini blind in that is the correct width. The one in there is kind of creepy.

Quote from @Joanne Tsai:

Quote from @Bill B.:

USLI definately does more than 10 properties. I thought they were one of the largest umbrella companies but you’ll certainly find them with any Google search. 

I did have to leave them last year because they had a $1million max liability if any rentals have a pool. So I had to switch to Hudson who I hadn’t heard of but also does more than 10 properties. I’m using them with a $5million limit. 

Ps. Some umbrella companies have switched their base insurance requirement from $300/300 to $500/500k. 

@Bill B.

 thanks! I am def checking it out. 

I agree with Bill, our Farmers umbrella policy was non-renewed in June of 2023 for being over 10 rentals and we switched to USLI. 

Quote from @Account Closed:

Haha, steak definitely comes from the same place that what you serve comes from.

Here’s my point, you claim that you can save people $650,000 buying a property and there are hundreds of thousands of vacant properties out there to do this with. Why would any smart business person not buy 100 of these properties and save $65,000,000 with their friends and family? Instead this smart business person “teaches” 100 students and makes $1,500,000 from them. 
Doesn’t add up. But I agree what you serve comes from the same animal as the steak😊

I’m done now.. ✌🏽 

Quote from @George Post:

Does the $2500 cost for an irrevocable trust make sense? Why doesnt the MIL gift us her 50% now?

George, research ladybird deeds (transfer on death deed). I just did this in Texas for less than $100 and your mil and ail can both leave you their half on passing with no probate (may be state specific so do your own research). As far as tapping equity before they go that’s another thing. Not sure how you are going to do that or if you even should. 

I’ll give you credit for your marketing. They shut one post down, up pops another.  Heck of a business model😂

Bob, you are planning on paying this mortgage only with money from your SDIRA correct? I think you had better talk to your custodian as well. 

Quote from @Bruce M.:

Quote from @Kristi K.:

Quote from @Bruce M.:

Who should the cashiers check at a non-judicial foreclosure be made out to?

I make out the cashiers checks to myself in different increments, like a couple each of $100,000, $50,000, $10,000 etc. Then I sign them after I win an auction right there on the court steps and give them to the lawyer running the auction. This is how it works in Comal and Guadalupe counties in central Texas anyways. 

Comal....the property tax has gotten crazy there.

I just show with a single check.  They just refund the overage soon after. Interesting idea a check made out to yourself.  I can possibly see them objecting to it since at that point it’s like cash and anyone that gets it can cash it in.  They might fear for their safety or the auctioneer might think of fleeing with it.....unlikely...but possible

I’m just telling you how I’ve done it the last 7 years. Yes, property taxes are crazy but so is appreciation. You got to take the good with the bad. The problem with one check is if you are over by $95,000 your money is tied up for the 3 or 4 weeks before they refund your overage but either way works. 

Quote from @Bruce M.:

Who should the cashiers check at a non-judicial foreclosure be made out to?

I make out the cashiers checks to myself in different increments, like a couple each of $100,000, $50,000, $10,000 etc. Then I sign them after I win an auction right there on the court steps and give them to the lawyer running the auction. This is how it works in Comal and Guadalupe counties in central Texas anyways.