All Forum Posts by: Tony Antonelli

@Leora Merrell

My wife and I have 3 cabins(2 1beds and a 2 bed) in the Smokies-one we actually bought with a 1031 exchange from a property we sold in Denver.

We don't live in the area(in fact we don't live anywhere). We run them on Airbnb and we get fantastic returns. The key is a good, reliable cleaning and maintenance company and fast, clear communication with customers and potential customers.

We spend a total of ~2hours a week on them and this year we'll gross ~160k from the 3.

Don't listen to the nay-sayers. With today's technology it is totally possible to handle it all remotely.

@Matt Engle

My wife and I reached financial freedom through a combination of my niche-of-a-niche trade and investment in vacation rentals. We could afford to live soley off the income from our investments but I still work that trade a few months a year and we're always on the lookout for other RE investments to expand our portfolio and turn cash into wealth. Other than that we live in an RV, travel the country visiting family and friends, fly fishing, skiing, and just generally enjoying all this amazing country has to offer. It doesn't suck 🙂

@Ronnie Holbert

That was my strategy at first until my tax strategist said "if you want to pay them off then don't pay them DOWN, save the money until you can pay them OFF. If things go bad and you have to surrender the property, the bank doesn't care if you own them 200k or you've paid it down to 20k."

Since then I haven't paid a penny more than the monthly payments.

Thanks @Aaron Belt! I'll definitely check out landinvestors. Although I definitely want to continue trying to network here on BP as well. That was honestly the main reason I signed up here.

Since my last post about trying to connect with wholesalers and investors in Idaho was taken down I guess I'll have to re-phrase.

My wife and I are buyers looking to network with other RE investors in Idaho-particularly Idaho Falls and Boise.

How do you go about networking in specific areas without having your posts yanked due to "advertising" problems?

Thanks

@Melanie Hill did you ever find a property manager in IF? My wife and I are here and may be interested as well.

@Lesley Resnick

My wife and I have 3 small cabins in a very busy tourist town. We're at 95% occupancy almost exclusively through Airbnb. With a good cleaning/maintenance company (which is absolutely key) my wife spends an average of ~2 hours/week handling bookings and questions remotely. After all expenses those 3 will clear us 70k this year.

I squeaked through high school doing the absolute bare minimum necessary to graduate and never gave any serious consideration to college. I tried a few different trades until I found one that I could excel at and I started my own business in that trade.

My wife on the other hand has her BA in real estate finance and her MBA.

My business generates the cash, she manages and allocates it, we invest it together.

I've always been a great saver but as Robert Kiyosaki said, "savers are losers".

I was fortunate to meet someone with an understanding of money and she was fortunate to meet someone that had some 🙂

@Taylor White that's great! I'd be very happy with that kind of monthly cash flow from a long term rental. Thanks for sharing!

Thanks Taylor! We will definitely check that site out.

Where is your current rental and how is going so far?