All Forum Posts by: Sean Wilt

Awesome, thanks Dylan!

Hey all, I am trying to get pre-foreclosure lists and tax lien lists in the Savannah GA area. My buddy in North Carolina was able to get lists in the Charlotte area and it was super easy and free.

I spoke to the Chatham County tax commissioners office and they indicated they do not provide lists - only the ability to look up at the single address level.

Sure there are some pay sites out there to get this type of information.  What are some of the best sources to find this type of data?

Thanks!

Hello, new to flipping but not new to real estate investing or construction. I am looking at 1200 square foot 1959 home with popcorn ceilings. The living room popcorn is peeling off so needs to be removed so while I am at it, going to do the whole thing. First question. I know it is fairly likely there is asbestos. I heard there are kits at Depot. Are they reliable to test? Second. If there is asbestos, how much $ would I be looking at? I went to Home Advisor and got a guy that said $4,000 and that the drywall and insulation may need to be removed. Third question. Part of the siding at the rear of the home may need to be replaced. It is not wood so wondering if that could be asbestos as well. Thoughts on that? This deal I am looking at is promising but if there are THOUSANDS of dollars due to asbestos issues, I may need to re-think. Thanks for help! Sean

Hey guys, I have been asked by a neighbor of mine to help them manage their 2 short term rental properties they own.  I am excited at the opportunity and know how I want to structure it from a business perspective however, I was wondering if anyone has a template for a contract addressing liability issues, terms of the contract from a legal point of view etc.

Figure someone on here likely has a boilerplate contract I could take a peek at?

Any help would be greatly appreciated, thanks!

Sean

Thanks to all for the help.  I will definiltely not continue to engage with this person.

Why I like this Forum so much!

Thanks Lisa, so yours sounds ok so far.  Has the guest actually stayed with you yet?  Or is it upcoming?  sounds very similar to my deal.  Sounds like it took some time to get paid though and my guest wants a key week in early June so I would not hold it until 100% payment was recieved.

A potential guest contacted me via inquiry through VRBO and is interested in a week long stay at our home and it's a nice rental ($3,500).   He is a new traveller with no reviews.  He gave his full name and email plus phone number, but stated that his employer was going to pay for the rental and needed to write a check so wanted to go outside of the site.

I am very hesitant to do this as wondering if it's a scam... I would of course not hold the dates until i received the check and it cashed.  But, I feel I am at risk in a number of areas by going outside of the platform especially since I was originally contacted via the platform vs. a friend or facebook page or something. Would VRBO come down hard if they found out?  Also, I know if something went very wrong, I am at least partially protected by the platform.  Would hate if he was some sort of squatter or something.

I responded Monday quickly after his request,  but was very vague.  He actually just responded so he is engaged.  It does feel a bit like one of those Craigslist scams, but he did give his name and email/phone.

Feeling apprehensive.... and that it's not worth it, but it is a nice rental.

Anyone have thoughts?

@January Johnson; @Paul Sandhu

Paul is correct, deed records can help see who the owner of the home is.  Reason is not so much to purchase their home, knowing sale price... but to get the address (correct, no phone # or email) to write and see if they are happy with their current property management and would like to discuss another option.  I can specifically target properties I would be interested in.  I work for a company that I can get millions of deed records nationwide in every county/municipality coast to coast going back to 2005.

I was just pointing out a part of the strategy to help prospect for potential properties to manage....

So considering a major life move :).  I'm new at this STVR biz (about 2 years) but feel I have a good handle on what it takes to make money in this space managing our 2 properties on our own.   As we continue to build our own portfolio of properties, I am considering opening my own property management company in my core market.

Based on my experience and study, I feel the local property management complanies are not that sophisticated and I have access to deed records and other resources that I can get to the owners of over 1500 properties on the platforms pretty easily.  Of course, I would need to energize homeowners of my value... not asking for advice necessarily there.  Just wondering what a typical fee would be for high level property management that would include:

• Listing property on AirBnb, HomeAway, and Corporate Website
• Manage calendar and booking process from start to end
• Manage cleaning and basic maintenance (lawn/small repair)
• Pay State sales tax and local hotel/motel tax on behalf of owner
• Supply basic supplies (paper towels/toilet paper/coffee/etc.)

If I provide for a reasonable profit margin, I am thinking 40% of gross revenue would cover all of the above.  An example may look like this:

Total Revenue   $50,000

Cleaning Fees   $4,000

Taxes                  $6,500

Platform Fees   $1,500

Suppplies           $1,000

Maintenance     $2,000

Profit                   $5,000

Total Fees           $20,000   (40%)

Am I including too much? (paying taxes for instance).    Should I pass through supplies and lawn maintenance? Am I missing anything?  Is my profit margin off?  Would I be competitive?  I know I need to do more research, just asking for a quick view and comments if any to see if I'm on the right track.

We just qualified for AirBnb's "Family Collection" which is supposed to feature our property for those seeking "family friendly" properties.  AirBnb does have a button on their filters for trip "type" to where you can choose family.  Just wondering if anything has an opinion or experience on if this really helped on bookings?

It's pretty tough to qualify as you need a 4.8 average review score over all, and at least two 5 star with verified families, amenities, family friendly in your description etc.  If I search properties in my market and just use standard filters, I come up with over 100 properties.... If I add the "family" type, it goes to only 5!  so I guess I feel good being in the small club ha ha.... obvously, can't hurt..... but does it really do anything?  Anyone have experience that this designation made a big difference?