All Forum Posts by: Stefanie K.

Thanks for sharing but this won't address the need to communicate via the platform.  While email may work for some comms, I'd prefer to keep more of it via the platform for traceability and evidence for Airbnb disputes/resolutions.  Also, this won't help for reviews, which are a big time suck I would prefer to automate...

I have a lot of Airbnb profiles and want to automate some of the "business as usual" tasks.

Does anyone recommend a tool that's (1) easy to set up for multiple profiles (2) flexible for what types of messages you want to send a response to ie, inquiries I probably want to vet/respond to vs insta book

Smartbnb seems like a good option...but any others folks have used and would recommend or perhaps negative reviews about Smartbnb?

Hi BP - Curious who else has put some thought behind this and any other strategies you are employing now, while you are a W2 employee, to set yourself up when you want to quit "from the man" and continue rolling with RE.  I am the only W2 earner, my spouse has always been self employed.  My main concern is running out of runway to continue getting conventional loans to finance deals.

Here are some things I am doing and would love to know what others are considering:

1. Opening free HELOCs on several properties to give myself the opportunity to "self fund" smaller deals.  Anyone consider opening personal lines of credit "just to have"?  (interest rates aren't great but maybe still worth it to open while w2?)
2. Banking cash flow today to invest tomorrow vs living off of it
3. Found a job at a start up (part-time) in the RE space that I really enjoy that can show some form of W2 income but the absolute $$ of this work are far less than my "real" W2 tech job
4. Considering selling primary residence (currently used as STR) before the "live there for 2 of the last 5 years" capital gains exclusion expires that has increased in value and keeping cash but eventually rolling those gains into a multi family prop when price is right and I find my "forever 2 or 3 flat"

I have 4 condos that cash flow very nicely. The biggest expense you will have are appliances and HVAC. The bulk of the other repairs will be covered by the association. So long as there are healthy reserves and the board cares about maintiaing the building, the normal dues cover you.

I don't budget a specific number personally as I have enough cash to take care of those one off expenses if and when they do arise. 

Aside from the returns, there can be more headache with condos depending on the people that live there and run the HOA...that's often times the bigger gamble ;)

On the whole, I am not scared of investing in Chicago for the long run.  Speaking specifically about the city, yes, It certainly has it's problems but it's always going to be a city people will be renting in.  So long as you buy right, don't over extend yourself financially, and run numbers from worst case to best case and can weather the worst case, you will be ok in the long run. I generally agree with what @Brett Goldsmith advised.   As a Chicago investor, I am a bit thrilled people are scared of the city, just means fewer competing offers if I find a good deal (but they are hard to come by these days) ;) 

Hey Amer - I would love to know the address of the place you have a condo at.  I am looking to invest in Edgewater and want a condo on the lake but I would be looking to buy and hold.  If the building is open to investors, I would love to know the address!  Thanks

Hyundai Accent 5 door.  Affordable, reliable, great on gas, and hauls so much stuff for being a small car.  This is my second Hatchback style car and are the only types of cars I will purchase in the future due to their practicality.

@Derek Luttrell It doesn't go away :)  This stuff truly becomes FUN, way more fun than corporate days jobs (my friends think I have grown a 3rd eye but I know what my goals are)!  Congrats on the first purchase.  I live in and invest in Chicago so would be happy to connect sometime.  Go look at Mr Money Mustache (if you haven't found him already) and be prepared to lose another healthy chunk of your day reading and digesting his stuff.  

Thanks @Luka Milicevic and @Keith Smith for your insights!  With the political climate where it is, probably should wait to see how things shake out but it doesn't sound like it is going in the right direction.  I understand the limbo you guys are in, we had it here in Chicago for a long time.  

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