All Forum Posts by: Steven Denio

@Ray A Delfi haha, so true in regards to those “great ideas” and “manic episodes”. I actually went as far as to call my lawyer who directed me to the lawyer who helped write the time share laws in Oregon. Once I realized that she couldn’t understand if it was legal or not is when I knew it was too complicated.

I’ll look into Trello.

Thanks again.

@Justin Ellis Thank you! I’d really like to explore buying in AZ. Can I reach out once I’m ready to make a move down in your state?

@Ray A Delfi There is a few reasons that I explored this route. Yes, the place rents well and its in a great location. As a matter of fact that specific home funds the cash flow needed to do most of my investments. The reason why I was looking into this type of model was -

A) I simply want to be able to use the house. It is located in a great place in the world, Bend, Oregon and I would like to use the house as a second home but don't quite have the income to carry two mortgages on my own. 

B) Airbnb's in the area actually rent more frequently then in most areas due to the outdoor life style of the town there is very little down time. Numbers if I were to be able to use it as a short term rental show a gross of around 70k a year and a net of around 50k with a buy back of a just 6 to 8 months on the initial investment of furnishing the home and permits. 

C) I was looking to it as something I can scale, I was in the sales world for years and traveling sales reps need a place to stay, I have great access to the industry too (Specifically the beer industry as I was a sales director for a decade). I was exploring if a website can be built in a way that I could create a community for business to buy into. Its gets a little complicated from there but the main idea was a community that a business can buy into and have access to many homes throughout a region. This would allow me to cash flow property in areas that are currently very find to cash flow properties, Like Seattle, Portland and the Bay for example. 

Once a community was built I could add different revenue streams, like say provide tickets to sporting events at face value to the community, letting the community avoid surcharge cost. 

In the end, you're correct, it was way to complicated to move forward with. I am currently getting my lot confirmed on that property in Bend. I am very close to the distance of 250 sqft needed to retain my short term rental permit. I am going to "sell" about 2 feet of land to my neighbor. This will give us the distance needed to claim it as a full time short term rental. 

@Kenny Dahill thank you for the input. I charged them 500 which is about a 5th of the cost to replace the tile and a 3rd of the cost to switch to wood flooring. I probably would have charged more if I had waited for some better input such as yourself.

Thanks again.

@Jay Hinrichs Thanks Jay, Sounds like I have some exploring to do. 

@Jay Hinrichs specifically I am looking for some kind of legal set up where I can own the land and sell blocks of days off. The only two ways I can think of are:

A) write out a contract that has tenants/partners commit to 30 days, and have that contract written in a way that it follows city guidelines but does not have a specific timeframe. Looking to see if that if possible?

B) If there is a timeshare type of structure out there (doesn’t need to be a timeshare, I’m looking for a structure in general) that will allow me to keep my ownership and sell off blocks of days on an annual membership basis.

@Nathan G. The city has a radius clause for short term rentals meaning that there is a short term rental in the radius of my home, there is one allowed for a 250 yard radius.

I would be looking to be set up in some way that I am the land owner selling blocks of days. I.e. I’m only interested if I can be set up in a way that I can keep my ownership. My question is in trying to see if that is possible. Or if there is another way to be set up so I can legally sell blocks of days, e.g., having members commit to 30 days which lands in the guidelines of a long term rental.

Hi Everyone, 

Does anyone out there know, or know someone who has set up a timeshare type of business model for a home. I am looking to be the property owner and sell blocks of days to primarily business's. 

Here are a couple of the bigger questions were I would like some council.

1) Knowing that to be considered a long term rental a lease has to be at least 30 days, can I set this up in some way other then a timeshare? Maybe build a lease that reads as the tenant is agreeing to lease the space for 30days? 

2) Will setting up something like this be complicated or can it be simple? I would like to build a website for it so I can automate the process so with that in mind how difficult will this process be? 

I look forward to any and all of your words!

Thanks, and, Happy Labor Day all!

Thank you for all of the great info everyone! The last renovation on the home was in 2010 so it would be hard to find the same tile. My wife and I decided that we are going to set it up so that we can use the house which excites us a lot because we love the city and the location. We cannot use it as an Airbnb for the reason the the City of Bend, Oregon has a radius clause but I am looking into setting it up as a time share structure and sell blocks of days. It should be fun to see how this pans out! 

Thank you all again. 

@Brian Van Pelt, you’re right dumb question. Thank you!