All Forum Posts by: Tyson Dierschke

I'm confused. I thought using funds from a HELOC to invest was common advice. I know I've heard it many times both when reading in here and listening to the podcasts. Or is HELOC generally only used for rehab and not as down payments to leverage new properties?

Welcome Myra! I am also in the early phases of my RE career, and small multi-family buy and hold is where I want to start. Looking forward to hearing about your success.

Eddie, don’t let the negative comments get to you. I’ve experienced the same on here. I’ve learned there’s only one way to get into this business and that’s to just jump in. I’m getting ready to take the plunge myself. It looks like you’ve taken that first step. No going back now. Just be smart and don’t overdo it. Im no seasoned flipper, but having spent quite some time in construction, I also feel some of Charlie’s estimates to be pretty high. Although, it doesn’t hurt to work in some cushion. Good luck! With your and your wife’s backgrounds, I’m sure you’ll be fine.

Congrats Paula! Just curious, are these deals you found on your own? They mention they have tools to help you find deals. Did they help you or did they come from somewhere else?

Thanks Rachel Pervis ! This guy is like a brother and I trust him like one. I have done quite a bit of my own due diligence on it and we meet tomorrow to discuss. I also think it is a no-brainer. If anything, it’ll at least help us pay off some existing debt and get us in a better position to leverage more buy and hold properties. Anyway I look at this thing, barring something catastrophic happening, I can’t lose money on this deal. Again, thanks for you insight and encouragement!

Nice response Cody L. . Thanks!

Ray S. , your last paragraph sums it up. It should be up to the owner/host and the neighbors to regulate the guests. If ordinances regarding noise and such are violated, they should be enforced. I just stayed in an AirBNB place on Anna Maria Island (which by the way, is absolutely amazing!). In the rules from the host it clearly says no parties, or pets, or smoking, etc. Most of the residences were vacation rentals and, for the most part, it was very pleasant and quiet. I think most guests will comply. And those who don’t get bad reviews and eventually are rejected by hosts in the future. I don’t have a problem with a lodging tax for short term rental properties. I just don’t think it should be the same as hotels pay. It’s two totally different property types. I think without the many short term rentals on Anna Maria, the thriving businesses and restaurants there would be in trouble.

Thanks Scott Krone ! Thanks especially Costin I. For taking the time for such a thorough response. That diagram is great! And after going through it, I think I actually may need to consider asset protection. I will get in touch with an attorney. Thanks again!

Just a question as an observer and someone who is interested in short term rental properties in the future. I noticed many jurisdictions are requiring that the operator/owner occupy the property for a certain amount of time per year among other overzealous regulations. This is obviously not realistic, especially if it’s not your primary residence and/or you own multiple properties. It appears they’re trying to stomp out STR owners and investors in favor of the huge hotel chains. Why the war on short term rental properties by municipalities? Is this not still a capitalist society? Did I miss something? You should be able to do whatever you want with your properties as long as it doesn’t violate any criminal laws.

Thanks for the reply Kevin! However, I don’t feel that I’m scattered at all. I have a pretty good idea of how I want to invest. And I’m not trying to do everything all at one time. I’m just trying to figure out the better order to proceed. As I stated before, I do not feel that taking total charge of a flip is in the cards at this time due to our current situation. I then went on to say that I would like to participate in some projects as a partner or as part of a syndicated deal. I feel like I was pretty clear that my overall goal is to obtain cash flow through rentals, and that I would like to take part in rehab projects to build capital for that side of it. I do not want to be a full time flipper at this time. Maybe later when the kids are older, but definitely not now. The commercial comment was just mentioning a future goal. Unless a impassable deal falls in my lap, I will not be actively pursuing that until later in my RE career.