All Forum Posts by: Sundone Boutvyseth

Is it just me or are others seeing lots of VRBO scams? I forgot to take screen shots before reporting them as fraud but people sending messages saying they have clients or family needing a place to stay and to reach out to them at this # but the number is full of random numbers and symbols (e.g. 21! $345!*677). My VRBO is new this year and this is my second time getting scam/spam messages

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Salt Lake City, Utah

Quote from @Luke Carl:

It very likely could be a waste of time. Not legal advice.

Thanks. I also follow your youtube channel.

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Salt Lake City, Utah

Quote from @Sarah Kensinger:

Quote from @Sundone Boutvyseth:

Just bought my first investment property and will be using it as an STR. I'm debating on creating an LLC when listing my rental. Has anybody else done this? I'm doing this to protect me if any accidents happen in/on the rental property and for end of year taxes. Or is this just a waste of time?

No this is NOT and I repeat NOT a waste of time. If you haven't noticed in the news STR opens the door for all sorts of lawsuits, of which I have yet to figure out why! You need to get in touch with Anderson Advisors, they are the top experts in this area and have been a huge help for us. They can help you with a specific thing or you can become a platinum member and they'll help you build long term protection on any and all properties. We are members and have felt like it was worth the money! Unlike other attorneys that think all the boxes are checked and have their clients protected, Anderson Advisors specializes in Real Estate. So, they know every in and out when it comes to protecting assets and taxes! If you're interested there are lots of educational videos on Anderson's You Tube channel.

Thank you so much for the advice. I’ll check Anderson Advisors.

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Salt Lake City, Utah

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Salt Lake City, Utah

Quote from @Matthew Wolk:

Quote from @Sundone Boutvyseth:

Looking to buy a single family home and use as a STR on Airbnb. Are there any loans out there that require less than 10% down?

Not for an investment property.

Thanks :(

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Salt Lake City, Utah

Quote from @Dave Skow:

@Sundone Boutvyseth-the lowest Down for a SFR rental property is 15% ...if you are able to locate an option with 10% down - this is likely going to be pricey but if you need to minize the down - it might be worth using

Thank you!

1 Vote

Salt Lake City, Utah

Quote from @Braydin Mehnert:

@Sundone Boutvyseth Unfortunately, none that I know of. Any time you are not living in the property it is more risky for the lender. This risk is amplified the less money you have attached to the deal. In real terms you would walk away from an investment long before a primary residence and therefore most banks will not allow it for anything less than 10%. The only other option would be to get a coborrower to bring the down payment or get seller financing with a lower down payment.

Hope this helps!

Thank you!

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Salt Lake City, Utah

Looking to buy a single family home and use as a STR on Airbnb. Are there any loans out there that require less than 10% down?

4 Votes

Salt Lake City, Utah

Going to co sign on a property with a friend and own 50% of home that is currently used as an airbnb. Plan on keeping that way. Was advised to get an operational agreement laying out all the terms, and then do a warranty deed transfer to the new llc.

Looking for pros and cons? Any other advice/guidance would be appreciated.

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A friend currently has an airbnb (only been on since August 2022 and pays for itself) and trying to do cash out refinance. He cant qualify alone (assuming because he is self employed and flips homes) and asked if I wanted to co-sign and be part owner (70/30 split). Not asking for any money either. Is this a good idea and would it hurt me if I want to buy a property in the future.

Thanks in advance for any and all advice.

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Salt Lake City, Utah

All Forum Posts by: Sundone Boutvyseth

Sundone Boutvyseth has started 9 posts and replied 14 times.

Post: VRBO Scams via application

Post: LLC for STR?

Post: LLC for STR?

Post: LLC for STR?

Post: First investment property for less than 10% down

Post: First investment property for less than 10% down

Post: First investment property for less than 10% down

Post: First investment property for less than 10% down

Post: Co signing on home used as airbnb

Post: Co signing on a property used on airbnb