All Forum Posts by: Sean Walton

It seems like this list has gotten more and more BP published books over the years but still worth checking out https://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/ Personally Rich Dad and Richest Man In Babylon are good for mindset but not great for actionable steps. I've heard similar about Millionaire Real Estate Investor not that there is anything wrong with that. I liked E-myth revisited, the millionaire next door, and The 10x Rule. I've flipped through J Scott's books good info well organized but I'm not flipping or rehabbing yet so not sure how that play out in the real world It really depends what area of investing you want to get into. Try and get as many from the library as you can save the money for down payments

It sounds like you are a very busy person or have great systems in place. I would try and clarify what his expected returns are. I agree with the others you don't want the arrangement to make you chase deals. One thought since you have flipping experience you could lend hard money using his money with a management comission

Personally I wouldn't pay more than $1500. I think when you see a range you are probably going to get an aggressive up sale. I think there is a reason gurus get a bad name. With that said if you are like me and have been meaning to take the next step there is value in having to pay for an education (you value it more) and having someone to help you on the way. I'm 3 months in to the Michael Quarles gold coaching program. I'm about to send my first round of mail. It could have been much sooner but I had other life events to deal with. Much more reasonable price. No upsale. Does he use it as a way to build more businesses for is direct mail company? sure. Does he make you use his company? no.

I would look into pervious concrete or pervious asphalt. With freeze thaw it will keep you from getting patches of ice or at least greatly reduce them. Make sure your contractor knows what they are doing.

I've always found CBIZ to be prompt in replying to my inquiries by email and friendly and knowledgeable on the phone but thankfully I haven't had a claim so I can't speak to that.

Hi Sasha, Welcome to BP. I'd be interested in chatting with you on what areas you are planning on marketing to. I'm going to start doing direct mail to Richmond and Vallejo next week.

I think many landlords in rent controlled cities get burned because a tenant can (not legally) rent for way more than their rent rate and the landlords take on increased liability and no additional money. If your rent is at market rate and the tenants pay on time and take good care of the place I might negotiate to raise the rent in exchange to allowing them to continue this. Most airbnb guests are extremely respectful but if some are disturbing your other tenant or neighbor that would be less reason to play ball.

I agree most insurance doesn't cover airbnb guests. Consult your insurance agent but I ended up going  to CBIZ. I don't only want to rely on Airbnb's coverage.

Edit: you can't leave a review for a place you haven't stayed at but I think you can or could leave a reference for the person but I might try and work things out first

I know this has been the subject of much debate but I'm wondering if my numbers look about right on a mid term (30 to 90 day) furnished rental. It is a 536 SF condo built in 2004. Gross rent averages $3900. A to B  class tenants. There is a washer, gas dryer, dishwasher garbage disposal, gas fireplace (fake wood). Only responsible for maintenance walls in. Everything has been much less so far in the 6 years I've owned it but I may be running up against the useful life of the appliances (no issues so far knock on wood)

@Jake Walroth get airbnb to take photos of it ASAP. I'm pretty sure they don't charge for that service still. It makes it look 10x better.

Set you price 20% lower than comparable places nearby until you have a few 5 star reviews then gradually ramp it up.

It is good to leave some bagels or similar, juice, coffee, tea and maybe bottled water to get people started at least for their first morning in case they are arriving too late to shop. Good luck

@Ethan Cooke I'm in SOMA near Moscone Center so it is easy to keep high occupancy the challenge with 30 day minimums is getting departures and arrival to line up right. It would be nice if I could accept shorter rentals to fill the gaps. I bought a short sale in October 2011 for $300k purchase. Gross rents between $3600 to $4200/mo. It was built in 2004 so maintenance has been minimal and mostly handled by me. You do have to pay more expenses like internet, electricity but it still makes sense for now.

A lot of people new to the city like the idea of being central to wherever they are working so they don't have to figure out MUNI or BART. I think that is what attracts them to my place. I'm not sure about mid-term rentals in other areas of the city but with Lyft, Uber and Chariot being farther from downtown is less of an issue. In airbnb you can put together a personal neighborhood guide to help people realize there are cool bars, restaurants etc in your area.