All Forum Posts by: Mark H. Porter

One checking account for 53 doors, 7 properties.  Budget is $1000 each door for maintenance.  We also have to give interest on security deposits but at .0025 per year it’s insignificant.  Accountant downloads from bank account  into quickbooks every couple of weeks.

Just not true.  Oceanfront, 8br, 9ba. Beach town that has 15m visitors.  6%.

And.... remember.  If you ever hope to get out of the first home you’ll need to do it in less than three so as to not pay a gain later.  Sometimes it’s worth it to do that and take the cash to invest elsewhere.

Sorry, a 25% equity position. It's 530 am and I'm hoping on a plane to buy another STR at the beach.

Matthew, I don’t quite understand the “payback the loans” part.  That’s not the deal.  The deal is you take out $40G and do another property while keeping a 75% equity position in the first property.

Guys, I'M sorry but this sounds crazy. I have my LTR in a college town where there's high demand and STR in a coastal vacation area with +20 weeks of rental with a peak of $12k per week in the summer.

For 6% on both, I get the canvassing and advertising, collection, scheduling of maintenance with contractor of my choice, cleaning, monthly quality control of the property, and a check by the 15th of the folding month. For the STR, I get the electric, cable, tax, trash, water, and pool bills.

Please do a simple search in the area for vacation rentals and see who pops up that is managing that for that specific area.  Most likely their reservation people live nearby and can talk firsthand to visitors.  Shop around like I did and negotiate.

Brian, the 6% is the for the rent service  maintenance is handled separately.  The company is a local rental company that handles hundreds of these vacation rentals.  Cleaning is included in the charge to the weekly renters.

https://www.vrmintel.com/3m-la...

https://www.bbb.org/us/or/port...

I pay 6% for my short-term rental management that also schedules all the maintenance and cleaning.  For 28% they better lease me a Mercedes!