All Forum Posts by: Luke G.

I would vote get the degree, it at least gets you a picture into an aspect of real estate and you may use it to assist your personal investing as well.  I invest in Eau Claire and Wausau, so not too far from you, I also live only about 20 minutes from you.  The management company I use for my long term rentals has several employees that get their degree from Stout in Property Management and routinely hire part time help that are working towards that degree.  

@Mitch Kennedy

I own around 40 units in the Wausau area; everything from SFHs up to a couple different quads. Don’t hesitate to connect/reach out if you need any help in the area, especially with lenders etc. I use a PM as I live closer to the twin cities but it’s a solid area to invest in.

Archery hunting elk across the rockies every fall, chasing pheasants with my golden retriever after I get home, and spending time fishing in AK and traveling with my wife and son.

@Marcello Di Gerlando.  That post is as good as gold, thanks for such a detailed response!

Bachelor's in Kinesiology and a Doctorate in physical therapy. Currently work in outpatient orthopedics and do real estate on the side, I'll eventually move on from the clinic and do REI full-time, but I'm not there yet.

Borderline worthless for my side hustle of REI. But it does provide a stable W2 that bank's seem to enjoy.

@Julie McCoy Thanks a bunch for your input, that's pretty much exactly what I was looking for when I started this thread.  Your set-up sounds similar to mine.  2 separate listings is what I'm going to likely go with.    

@Michael Baum

Septic is a holding tank due to proximity to the lake. I actually do have a well so no water bill but pumping for a place that size can be once a month depending on number of people.

@Michael Baum

Sorry also forgot to mention most places near me are in the 4-6 range. And my main cabin area I would likely do a base rate of 6 or 8.

I’m also considering playing with the summer months after a year or two and can decide if I should be just blocking the entire cabin or if most of my reservations are for only the main area.

@Michael Baum

Thanks for the input!

My place will be the biggest within a 45 minute drive by a rather significant margin.

There really isn’t an option for 3 different scenarios, it is only is 2. The 2nd portion of the house does not have a full kitchen, it also does not have access to the second level screened in porch and there is no way to split the exterior without putting up a wall through the large deck which I’m not willing to do. The setup for the second portion of the house plays well for more people sleeping and hedging out, but not necessarily a stand alone unit. If I did two separate units privacy would be minimal and I would need a different set of licensing agreements since it would be a multi unit and not a single family short term rental.

It is the norm in this region as every other VRBO in the area charges more per person once you get over a certain point. I’m still unsure what my base rate is per cabin but the extra won’t be ridiculous but it is the region standard here. It may be the norm in your market but there’s a large difference on the wear and tear of the house, holding tank usage, electricity and maintenance if there are 10 people or 18. There’s not much difference if I just increase the rate of if I increase the rate per person with a base rate. Once again, I do appreciate the input however.

@Mark Miles

My plan if the entire house is rented is having a full day between guests and the normal turnover time if only half the house is rented. Great point.