All Forum Posts by: Mariel DeVito

@Bruce Woodruff would you be able to share how you got your STR contract? I'm interested in doing direct bookings.

@Dave Stokley thank you! I’m a newbie to the site and not sure how to look up.

As much as I do like Airbnb, I am curious about the possibility of doing STR via private owner. Pro/cons besides the obvious-marketing, owner protection (which I hear isn't really much), etc.? Also does anybody know where I can get STR lease docs?

I am not a lawyer. My opinion on this is that you can always try but depending on a number of factors, you may or you may not win. One, does your agreement with PM show how he has to vet the tenant? In other words does it state that he has to run their credit report to verify? Two, by using the falsified report (which he/she likely may not have known) the PM showed the act of good intent in meeting the vetting process and thus meeting the deliverable. He/she also presented the applicant to you, of which you had the opportunity to ask about vetting and rejecting the potential tenant. 
I have been a landlord for two years and am thankful to have had good tenants but I do understand that it’s not easy picking the right ones. Hope the feedback helps!

@Ryan Hehman initially yes but I think he may want to live in it in 3-5 years.

Hi everyone! Not sure if this has been asked yet but my father in law is purchasing a property all cash. He would like to know if it would be possible to get a loan on the property if he titles it to an LLC. Thoughts?

Yes! It is wise but you need to set yourself up for success. Surround yourself with people to help through networking opportunities. I’m not a realtor but if you’re interested in northeast Florida, you are welcome to reach out to me for feedback. I’m two years into investing myself and have done pretty well.

I would consider reading reviews on the agent/broker. The beautiful thing about the virtual world is that you are able to find platform like google reviews where you can get the feedback. You should also consider joining local neighborhood chat groups to see if the locals can recommend the right person for you. Searching for a list doesn’t always give you the best candidate.

I have been waiting on a HELOC application to finance my first multi family purchase. I was buying time as the back up offer and tonight, I got the message saying that it fell out and I'm in. My HELOC application, now 7 weeks in the making, is still not approved. I was told it was 30 days and then now 30-45 days to close. I want to be optimistic that it would come through in the next week but I need a plan B. I have two other investment properties that have at least 80K in equity, which is more than what I need. Problem is neither is in an LLC and one was just a 1031 exchange. I need to close in 30 days. What are my options? Plan C is to liquidate some assets but it's cutting it really close...

@Thomas Loaiza good luck finding a realtor that would go to great lengths to learn the local market to that level. I have been investing in Florida for the last two years and you can't leave something like that to them.  Buyers/investors need to conduct their own due diligence in finding out the state/city/county regulations on what's allowable or not.