All Forum Posts by: Pam Smith

Yeah, a little too expensive for us!

Hi all-

Need to buy a sofa bed to add some extra heads in our place. Is there such a thing as a comfortable sofa bed? What would you recommend?

Thanks!

We just bought our 2nd STR in Door County if you want to connect!

@Ryan Moyer totally agree! I want to quit my full-time job and do REI and subsequently earn REP status. Just wasn't sure how many I need to have to realistically earn this status if I don't have any other REIs

Thanks all for the great responses! We have 1 STR right now that went live in mid-May in a very, seasonal location. We did $72k in revenue from June-October without any reviews to begin and after all expenses (including start-up costs and 12-mos of mortgage) we profited about 15k after 100k down. We're looking in the same area as we have a great team around us. My husband has a great job that can allow us to get a few more properties without taking into consideration the revenue from these properties. I also make a great living with my full-time job but really enjoy this new venture. Would love REP status to help offset my husband's W2 if I quit my job.

Hi all-

I currently have a full-time "day" job but would love own/manage STRs full-time. Just curious, anyone with REP (real-estate professional) status on here, how many STRs did you need to get to in order to qualify for this?

Thanks! 

@Ryan Moyer thank you so much! We have the suite of products for chase ultimate rewards for my other business and personally and we love it. I've been thinking about adding the Amex MR to our suite so perhaps we'll do this for the STR. Our cleaners allow us to charge their cleaning bills to our credit card for no fee so this is where we really rack up the points!

Thanks @Account Closed I'll also take a look at the Lowe's credit card as we get a ton of stuff there for our place. 

We also always pay off our bills every month in full so it makes the most sense to get something back for our money!

Thank you for all of the suggestions! We already have a travel card for our other business so I'm thinking a cash back card as well since the categories we purchase from don't usually line up with rewards cards.

Hi all-

Just curious which credit cards everybody uses to charge all of their STR expenses? We just finished up our first summer with an STR and would like to streamline everything moving forward with a credit card dedicated to this STR.

Thanks!