All Forum Posts by: Richard Elvin

I'm not familiar with Google mesh, but I think it would work. Google mesh is geared towards home usage, not dissing it as a product, just not something I'm personally familiar with.

In IT consulting I've normally used Cisco for high end and Ubiquiti for small business/non PCI compliant. 

This is what I would use, mostly because it's what I know and am comfortable with. What you find comfortable to work with could be very different. :)

Ubiquiti edge router ~ $60 (Personally I would use an Untangle, now Arista, firewall and skip the router, but that is not as user friendly)
Ubiquiti 4-port POE switch - ~$30
Ubiquiti LR-AP ~$180 (Can usually find in a 5 pack for cheaper)
Plus wiring, plus somewhere to house the switch closet (Doesn't need to be fancy, just needs power and to be dry, like @Michael Baum said

This is just off the top of my head without ever seeing layout/walls/etc. It's to help you get an idea of what is involved, not a specific plan. I hope it's helpful. 

@Leon Lee I don't know what you mean by "signal booster". If you mean wifi range extender, I wouldn't even consider it. Range extender's are flaky and require being reset/moved/rebooted often. It's a very high touch device. 

I would route everything through one modem, one router, one switch, and then each unit would get it's own Access Point (AP). (AP's are hardlined back to the switch and much more bulletproof than a range extender) Each unit could have it's own wifi network and password if you wanted or, easier option, just enable "network isolation" checkbox. (It's literally that easy on business grade equipment, even entry level business grade)

I've worked in telecom and am currently in IT. Feel free to DM me if you have any questions I can answer.

There's more than just the IRS allowed days. How is the partnership setup? If it's an LLC and you use it for personal use, you are walking a fine line, the court may not even see the line, of comingling funds. (If it's truly a separate entity, why would nonpaying guests be allowed?)

If it's not an LLC, then personally I would have all of the investors list the dates they would like. Then go from there and work together on what seems equitable for everyone. If you can't solve something this simple amongst the investors, it may be time to rethink whom you invest with...

I agree with Sarah Kensinger, game room or parking. I think you would have a real humidity issue, as well as aesthetics, having a hot tub in the garage.

I would probably either go big or go home on the game room. Make it a place kids/teens would love to hang out or wait until you feel it's appropriate to invest that much into it.

@Max Murin I would heavily consider the ROI of these coaching/mentorship programs. If it costs $25,000 for the program, how long will it take to return that vs learning as you go? How much MORE will you make with coaching than without? Coaching/mentoring programs can be cost prohibitive and have a really low ROI vs buying a solid property in a solid neighborhood and learning as you go. If you're uncomfortable with documents, get a business lawyer to write them for you. That way you'll have someone that will go to court with/for you vs having some coach/mentor that won't be there when things really go sideways.

Another thought I always have when someone asks about coaching/mentorship programs is: How much longer will it take you to actually get in the game if you spend $$ on coaching? The coaching/mentorship programs don't care where you get the money from, but the bank does. How does spending $$ on coaching effect your ability to make a down payment? What about DTI?

Long post to say: Is coaching/mentoring program the highest and best use of your resources?
What is the opportunity cost? I see a lot of newer investors pay coaches tens of thousands of dollars, using debt, that stops them from actually investing! I'm not completely against coaching/mentoring, it's just that it's not a silver bullet and it actually stops a lot of new investors from actually investing. /rant

I agree with what Michael said, also realize that you are taking most of the risk and none of the returns. If you want to go STR, why not use a good, emphasis on good, property management company that has the resources and knowledge to get you the extra return? I don't see a scenario where I would allow an arbitrager access to my property.

I think the biggest concern is that, unless they're well capitalized, if things go sideways they can walk away and leave you with the mess/fines/lawsuits/whatever. There's an old saying about getting blood from a turnip...

If you can't get above market rents why would you put all of your eggs in the one basket? One tenant means if that tenant has issues paying, you are missing three payments. That's one of the biggest reasons I like multiple units, it spreads the risk out. If one tenant rents the entire place you are no longer diversified.

@Kaylia Robertson I did a quick search for a mortgage broker in Colorado Springs, there are several. I would reach out to to to several of the brokers and explain to them your situation and ask for advice. I would also check search for local credit unions and chat with their mortgage specialists.
Good luck!

@Henry Centola The answer is very locality specific. Kansas City requires the OTA to obtain the license number of the STR permit holder before allowing the property to be listed. Other localities are either more lax or enforce the rules in different ways.
https://www.airbnb.com/help/article/3436

I would consider reaching out to the other LL's and see if they are either going to the HOA meeting or if they would allow you to vote by proxy on this issue.

Right, I'm hoping if we keep that thread active that eventually there will be a resolution.