All Forum Posts by: Roy Gutierrez

@Mike McCarthy, I don't have any deals yet, (I just decided to become a full time investor), he's always talking about doing business together and I like his work so I'm just exploring if it makes sense to partner with him, just don't know what type of mix would work or just better pay him as a contractor/gc and that's it.

Thank you @Casity Kao, what happens if the owner is able to buy back the property during the redemption period? do I lose any money? (apart from time) I imagine the prudent thing would be to wait it out until the redemption period is over, is there a website with length of redemption information? 

Thanks a lot for the suggestions, @Chris T., I like the idea of hiring him as GC initially and see what happens, so basically you don't suggest to partner with a contractor unless they bring some cash? have you done any type of deal like this?

@Brian Pulaski the main reason is to keep him working for me exclusively. If he's focused on my deals that means I can get done things quicker/better quality.

Thank you!

Hello everyone,

I'm interested in bidding on some properties at auction, some are "subject to redemption", some have occupants. The properties are in Michigan. What are your experiences buying properties from auctions with any of these 2 issues?

Thank you in advance!

Hi everyone,

I've been thinking of partnering with a contractor that's done good work for me in the past. I might use him for some flips and maybe some buy and hold. I would be finding the properties and providing the funding, he wouldn't be bringing any money, he basically would be doing some of the work (I would expect to be working on the project 100% of his work time, no working on side work) and acting as the general contractor (he's about to become a general contractor), I have 0 experience doing this, for you guys that are doing this type of partnering, how do you structure this type of partnership?

Thank you!

Thank you @Ben Meisel, I contacted a few people already, most people took the day off it seems. I imagine a hard money lender will use my current properties as collateral? Is that the way most hard money lenders do business?

I list in both, used to get more bookings from Homeaway but now I get more from Airbnb. The important thing is not from where the guest is coming (airbnb, homeway, tripadvisor etc, etc), it's your rules and your ability to discern problem renters (surprisingly not hard!). Airbnb and Homeaway are starting to encroach into each other's space (Airbnb into vacation areas, homeaway wants to get also into the urban) @Julia Bykhovskaia check the latest payments you've received, since some months back homeaway doesn't disburse the deposit to the host (at least in my area), either they're keeping it or maybe putting a hold on the guest's card (they're trying to emulate Airbnb!) but I don't get it anymore, so if there's damage you will be at the mercy of Homeaway, aka (mini-Airbnb). 

@Chad S. Thank you very much, exactly what I'm looking for, will call them tomorrow! Any other place that does that same thing?

I had another post about this, was waiting until my taxes were done, I finally got my returns and now just started contacting the lenders that had responded to my post and seems that they're not private money, they want to do cash out, refis, helocs (which is good I want that as well, I have equity in all my houses) but the couple of houses that I want to try to get in the auctions require all cash, I imagine private money is going to be a challenge short term, what are my options or out of luck? I'm working on my connections, not there yet!

Thank you,

Roy

@Heidi Kenefick, I also do Airbnb/Homeaway, recently I've been trying to do longer term bookings, my first fear is landing a professional scammer,  ex, guest books for more than a month, claims tenants rights and it will take 3-4 months to evict, to much to lose, so I called Airbnb to see if the $1,000,000 guarantee will cover the rent while you're trying to evict them, (of course a professional scammer will have the minimum balance on the card so Airbnb can't pull more money) they mentioned probably but it sounded to me that depends so basically probably not,  knowing them that with things in the gray area in the airbnb agreement it will probably go against you. Do you know if they cover these type of loses?

Thank you!