All Forum Posts by: Kyler J Sloan

Everyone is always talking about the pros and cons your realtor's license, but what about those of getting your General Contractor License (GC)? 

Especially those who make a living off of flipping and / or building houses, I would think this would give you great insight and control over rehabs & build expenses; whereas, when you outsource everything out to a GC, you have not access to the relevant details -- the budget, upcharges, permitting process, coding restrictions, etc. It is important to know your limitations and expenses so that you can identify opportunities for savings on furfure projects, but it is in the best interest of the GC to conceal these things, so that the savings are added to his margin instead of yours. 

I would love to hear from other investors who are also GC's as to the pros and cons of getting their license. 

With it being the 1st of the year, I was curious if anyone else would mind looking at what AirDNA reports for their STR's and say whether their gross income was either under-reported or over-reported, and by how much?

I just checked mine, and it was under-reported by 14 K. 

Just curious if there is a trend here. 

** Note: I know that Airdna updates their data on the first week of every month, so December might not be reflected yet. If not, that would put mine at 6 K under-reported, which is not that bad, with an error of just 1%.  

Thanks everyone. I am more attracted to mountain markets, but driving through the area did get me curious.

I just drove through Biloxi Beach (MS) and could have sworn I met Brandon Turner at a storage unit. I wish someone could either confirm or deny that so I could quit torturing myself for not asking "are you Brandon Turner?". 

That aside, I was wondering what experience others might have had in this market with STR's?

Looked like a lot of development was taking place. 

Just curious curious about restrictions, etc. 

Is there a creative way to convert a single family house to a multifamily house in order to qualify the home as a multi-family under an FHA mortgage?

The house I have in mind has a lower level that would need a kitchen, and an upper level that would need a laundry room. 

It would be nice if when I fronted the cash for the initial conversion, could the built in equity count towards my down payment, but that might be delving into fantacy. 

Thanks in advance for any feedback. 

@Mitch Davidson Thank you. Ill call them today. 

@Mitch Davidson Thanks. I have been in touch with them and they say they want third party authorization for an attorney to proceed. Also since the funds from a construction loan would be used to pay off the amount the parcel appraises for, the attorney would be needed to structure that, or so they told me. 

@Mitch Davidson I should have clarified. Right now, I am looking for someone to aid in the partial release for a parcel from my mortgage which I had subdivided, so that I have the option to build there some time in the future. If that same attorney does and likes to do closings and draft contracts for home purchases that would be great. 

I am currently looking for a RE attorney in the Asheville (NC) area -- does anyone have referrals? Thanks!

Yeah, I don't like it. They also booked for the maximum of 6 guests, considering this is only a 2 Bed, 2 Bath property. 

I have asked for an explanation, but in the event that they either do not respond or I do not trust their response, I would incur a penally by manually cancelling their reservation. 

This is the problem with instant book; there is no filter for local guests as far as I am aware. I guess I will contact Airbnb to see if they would be willing to cancel without penalty if she does not respond.