All Forum Posts by: Ralph Pombo

@Mike V. - It is so sad to watch. Not only is it financially devastating to us, but most businesses have closed and will never reopen again. The leadership is insane.

We have used them for the last two years in Hawaii. They have been good for us. Hold out for a lower rate. Ours is 25%, which is still too high but typical on Hawaii. I like them so far.

Well unlike others, our experience has not been good. Our AirBnb is in Hawaii. To make things worse, it is on the island of Kauai which is the most strict of all of the islands. Our occupancy rates went from an average of 98% down to zero. We have had very few occupants in the last year. With sky high HOA fees and taxes, you can imagine that this has hurt us financially. Luckily, we had a pretty good sized capex fund just in case. That sustained us through the first nine months. We are now having to pay in at a rate of over $1200 a month and not being allowed to even use the property ourselves.

I hate to admit it, but that drives me insane also. My personal home has pipes that do that and we were just in a hotel in Texas that did the exact same thing. In the middle of the night it will drive me bonkers. I understand the issue, but I don't think that there is a simple fix. For water pipes, a landlord might consider a constant flow closed loop system that keep the pipes warm the entire time. I am not sure about the heating system though. I have not worked with one of those previously.
https://www.plumbingsupply.com...

@Benjamin Aaker - I will try them. So far, I have not had any luck. This is not an LLC, but the fact that we are retired is what scares them.

Thanks again,

@Joseph Firmin - Will that work to satisfy a 1031? How do I find someone like that?

Thank you

We have gone under contract to sell one of our rentals. I have never had an issue with financing before, but we both recently retired. Now no one will finance a new property. We have $200k to put down on one or several homes. I need to cover $500k for the exchange. Even though we have over $600k in retirement savings, no one is interested. Can you offer any suggestions? I hate to pay the tax on this.

Just to expand on the question a little, there are many online sources that I have used. Facebook Marketplace, Craigslist, Offerup, etc. all have good sources for used home materials. Doors are a good example. If you are looking for several doors for a rehab, many times people have gone through and upgraded all of their doors. The old ones will be perfectly good, but they were looking for a new look or better quality. You can, at times, find used doors for pennies.
Thank you,
Ralph

Do you have a go to place for used parts and pieces when rehabbing a house in Texas. I have found that the Restore - Habitat for Humanity stores are great when trying to save a buck. Do know of others? Thank you.

That is our plan exactly. I am buying out of state and will either place a mobile home or a tiny house in the back corner of the property. This will allow us to stay for very little expense anytime that we want to visit or do maintenance.