All Forum Posts by: Mike Sebastian

 This is fantastic, thank you so much! I will def reach out to them. 

I have 5 AirBNBs (Washington and Georgia) and am looking to connect with like-minded people that are willing to share stories and information about their experiences. Some of the topics I'd like to discuss up are below...

- Short Term Rental management, local and remote

- Financing alternatives to traditional mortgages

- What to do with a Titles after you close 

- Legal tips & lessons learned (not formal legal advice)

This will be informal and more of a story-sharing/discussion than a presentation. 

Is this event happening again in the future? 

Someone explained a strategy to me the other day that I thought was interesting and would like to get some expert advice on it.

The man I was speaking with owns 10 homes. All of them are STRs and all of them were purchased via a conventional mortgage with 20% down. After he purchased them, he quiet titled into the business name just like has been recommended here. 

After the dust settled on each purchase and they begun to show positive cash flow, he would refinance them into the the business name. He said that he did this to keep his DTI low. Whenever he went to get a new loan they saw the income that made it to his tax return, but no debt since all of that was now in the business. They could only pull up the debt that HE had, not what the business had since the business wasn't buying it outright.

I really like this approach until my portfolio is large enough to simply purchase through the business outright. 

I have 5 mortgages right now, and the income from three of them hasn't hit a tax return yet. I'm also working full time and don't want to take the cash from any of these, so the income won't "look good" until we stop reinvesting it all. The above financing strategy could really help, but I'm unsure of why no one else has mentioned it before, which has me worried. 

Pros: No debt on my personal debt report, income still records the same, agility to move quickly on the first purchase and slowly on the refi, less personal risk, very clear delineation between personal and business assets in the event of a lawsuit

Cons: A slightly higher interest rate, a one-time headache of paperwork to refinance

I see the pros far outweighing the cons, but don't think I've thought of all the cons. I'd love insight from anyone that's been through this, or intentionally avoided this. 

Did this ever get scheduled? Seems like there is a lot of interest. I'd be really excited to get it started! 

I'd be interested! 

This is great advice. Thank you @John Barrett! 

I have one long-term rental and one short-term rental and am looking to shift into this full time over the next few years. I have a lot of business experience, but not specifically in Real Estate. I'm looking for a mentor that I can meet with at least one time per week to help guide me through some of the more complex questions. Is there anyone open to helping a new, eager individual looking to grow? 

I'm interested in finding a Real Estate Agent local to Lewis County, WA that can speak to zoning laws and has the ability to find to 5+ acres (or possibly a cabin on 5+ acres) with a great view. Anyone know any connections near Mt. Rainer?  

Interesting, I haven't heard that before. What's the reason behind it?