All Forum Posts by: Philip Hy

I'm hoping the BP forums can pull through for me: 

A co-worker and I are interested in purchasing an SFR for an Airbnb investment, some place desirable in the greater Dallas area. I'm doing my own research, but would appreciate someone's advice and experience to get it running and automated. If someone can really bring value, I wouldn't mind bringing them on as an official co-host through Airbnb's co-hosting function.

Does anyone in DFW have a successful replicable Airbnb model? Thanks!

@Mark S.

I agree you and everyone else. It's not a big deal, but more a reflection on the company ethos. I understand their side that while carports may be common, this obviously is not a car port. It is strange though because based on all MSHB's literature on their website, it would seem against their way of doing business to leave off doors. Lets hope this is a one-time thing.

@Mark S. Great post, and love the candor in your review of you different investment experiences. A lot of our investments overlap except for some of the foreign investments. As a fellow Richmond, KY native, great to see you succeed and learning.

@Mike Dymski @Joshua Dorkin I agree, great guest for a podcast. I've always felt that the podcast could use some more diverse voices and backgrounds.

I agree with Scott Trench that you have to take a common sense approach. You just can’t time the market, so don’t try. Stick to the fundamentals, and you can find a good deal in any market...it just comes down to time and effort. You don’t hear people recommend pausing 401k contributions when markets are hot and to buy more when markets are crashing.

Jay Hinrichs thanks for answering my question in podcast #222. I asked the same question that started this thread about whether SFR really make money. They say if you really understand something, you should be able to explain it clearly. Your answer was simple and your expertise validated everything I suspected (make your money after you pay off the loan). I'm going to keep my DFW SFR for appreciation and pay down. Now transitioning to multifamily syndication. Interestingly, this seems like one of the areas you haven't worked in. If not, any particular reason?

@James Masotti Is the personal liability of $1M your primary insurance only, or including your umbrella insurance? My insurance broker told me that it only goes up to $500k and then you need an umbrella if you want additional coverage.

@Matt Higgins Thanks for sharing. I actually have one tenant who is quite nice and reliable. A little cooky but sweet. I'll have to think carefully about whether I want to hire a tenant, but she might be able to take a lot of miscellaneous work off my hands. My properties are in forth worth and I'm in Plano area, so a pretty decent hike for me.

@Alan Grobmeier thanks for jumping in the fray. Can you elaborate on what you mean when you say you want your properties at 40-50% LTV. Because the mortgage is constantly being paid down, you can't stay at that LTV, right? Or do you mean you refinance after you hit 40-50%? Or do you mean you put down higher payments, so that with a lower mortgage payment, the cash flow is better after paying PITI and capex?

@Igor L. Did you compare cozy and tenant cloud? what is your feeling? I currently use cozy but getting annoyed that there aren't any accounting functions or ios native app