All Forum Posts by: Suzette T.

If you incentivized guests to do it I bet a lot would.  If it is costing you 100 to get it done, offering guests anything under that to get them to take their own trash out would be money in your pocket.  While plenty of people won't care you may have better luck either letting guests know that the trash will come out of their deposit if they don't take it out, this may lower your ratings though.  Another options is to offer say $50 back at the end of their visit in addition to their deposit if trash is taken out.  Some will take it some won't but I bet you would get more than you do now.  

What do you guys do for garbage? My situation is this.

1. Large rural STRs with 12-20 person groups.

2. Community has compactors that guests can take garbage to for free essentially

3. Can't really leave outside since bears destroy any bear-proof bin I make (made 2 so far, perhaps I should use metal instead of wood?)

In the past I used to ask my cleaning crew to take out the garbage at the end of their stay, but my cleaning crews are pissed and are getting more and more upset. They are also charging $100 a pop now, and one threatened to quit over it. If a crew didn't take out garbage for whatever reason, the next set of guests would leave a bad review from the smell and overfilled bins.

So now I ask guests to take out their own garbage - but of course they don't. I'd say 25% do. The other 25% warn me they 'simply can't, our cars are too small!' and the other 50% never say a word. I have multiple message reminders, it's written on laminated sheets on the fridge, and all guests are notified when they check into the community about this issue.

Any thoughts about compliance? Or do you guys just hire a handyman to take care of it for a fee? I tried getting curbside pickup but 1 house doesn't allow it, and the other house the garbage bins get attacked by bears overnight, or the garbage men don't come at all, or there aren't enough bins.

Ask your lender to reduce your monthly payment by $200 because your tenant pays under market rent. Call the the tax assessor next and your insurance company. I think you get my point.

I connected with a seller the other day and can’t get helping him out of his house on my mind.. he is a retired firefighter and a great guy but is in a hole where we need to be around 85 and he owes 106. I’m a wholesaler with no backing to invest so I’m looking for the best way to simply navigate the solution. Help if possible.

WOW. Reading that was painful. I only made it to about provision 3 before I started tearing up. I stopped reading at provision 9. I am glad I was fortunate enough to claw through what I have and not have to accept those terms. Luckily if needed I can work at a fast food restaurant, gas station, dollar store etc... so that I don't have to accept those terms.  

@Mike Cumbie

Yeah it's almost like they intentionally designed the the loan program to snatch people into their clutches.

I'm glad you got a chance to read it.

Thank you Brandon Pelfrey. I appreciate your advice sir. I was researching the basics of what to do when purchasing property and I wrote a list of things that would need to be taken in consideration. Can you give it a look over if you have the time? This is just a scenario that I brought up.

Home cost is $200000. Here is what must take into consideration.

1.Income:

Rental income=$2000

Laundry=0

Storage=0

Misc=0

Total monthly income:$2000

2.Expenses:

Tax:$150.00

Insurance:$100.00

Utilities: Electric, sewer, water, trash and gas:$0.00

HOA fees or Home Owner Association:$0.00( it will only cost nothing if the home is not located in a HOA area.)

Lawn care:$0.00

Vacancy:$100.00

Repairs:$100.00

Capital expenditures: $100.00

Property management:$200.00

Mortgage(only if you don't pay cash):$860.00

(Assumptions about mortgage:

Put down money for a down payment.

Get a $160000 mortgage with 5 percent interest in a 30 year span.)

Total monthly expenses:$1610.00

3.Cash flow:

Income:$2000.00

Minus expenses:$1610.00

Total monthly cash flow:$390.00

4.Cash on cash ROI or return on investment:

Down payment:$40000

Clothing cost:$3000

Repair money or rehab budget:$7000

Misc other:$0.00

Total investment:$50000

$390.00*12=$4680.00

Annual cash flow=4680

Total investment =50000

4860÷50000= 9.36 percent

Cash on cash ROI is equal to 9.36 percent.