All Forum Posts by: Jingru Sui

LP=Limited Partner.

GP=General Partner.

LP normally has money and prefer return and GP does the work and residual return. Depending on each deal

I ran into problem with LLC before. Ideally set up an llc to hold my title but my lender wont lend to llc. then I bought the property using my name and later try to change title but my lender wont allow me to due to a clause that's in place. My solution for now is I got myself a huge personally liability insurance coverage.

Are you trying to get a regular homeowner insurance with short term rental coverage?

Are you including cleaning fee you can get from guest to your income? If not cleaning is a big part of STR add it as separate income and maybe down the line hire a reliable cleaner can generate some cleaning revenue.

I would recommend you consult with an attorney and be very specific about each person's responsibilities. Sounds like he will do more work and you will be the LP? 

Value add = more work for sure but bigger possible profit. Run number , get contractors to give you quote. Be specific on Capex . Good luck!

Thank you all for the suggestions!! When we first started purchasing these units we just try to furnishing it as cheap as possible so now a lot of the older units are in need of modernization. It's a great idea to get them all standardized.

Hi short term rental experts! My company has about 40 Airbnb units in downtown Atlanta and we have pretty high turn over rate. As that being said a lot of our supply has short life..We have to constantly replacing our pot and pans. Always go to Costco/walmart for cleaning supplies etc. We are still growning and adding on more units and i'm thinking there must be eaiser and better way to order our supplies! What's your method of doing this? Thanks in advance!

I quit my W2 on my 30th birthday. Thinking I will live on minimum. I have 4 houses so far. 3 houses rent can cover all 4 mortgages and little more.  

What's your investment criteria? and your return goal? for me is cash flowing $400 per month. if a property can meet that, I'll pull the trigger to purchase. For long term hold