All Forum Posts by: Zambricki Li

@Eric Bilderback in my experience banks don’t take Airbnb income future or present for residential loans. Its too sporadic and they do not consider it solid. You’ll need to have some regular long term rental income to show or a w2. Im seeing options on this thread out there though be careful. Also you cannot refi using Airbnb income in my experience. I understand why banks don’t want to lend for it, it is high risk compared to long term rental. If anyone on this thread knows specific lenders who fairly lend for str’s please share it has not been my experience I would love to learn how to do this. The more specific the better as what lender is doing this. Thanks @Eric Bilderback great question

@Joe S. They sell hose faucet locks for next time it’s vacant or install them now, that would send a message. I would move on quickly and throw no salt at the relationship over this.

California could be way more landlord friendly than it is, and the STR's are getting chipped away and capped more and more. You being a New Yorker..I recommend ATL. There is opportunity there. I recommend checking property and income taxes in the states you consider and get super specific down to the county level. It is an oft-skipped step when deciding. Z

Hey @Dustin Allen,  Thanks for the warm welcome and the question. I think of having your license and being able to help guide others as an extension of personal investing and vice versa. I have a friend who is a film maker, for example, who can’t watch a movie without computing camera angle choices and how they set up the shots, and did their post production. He’s just constantly learning and dissecting even while he’s watching any film.  Similarly, my brain is permanently analyzing and studying real estate as I drive around and move through life.  @David Greene is an inspiration on how the two fields (personal investing and being a licensed agent) can strengthen each other and be a nice counter balance. Information is power. I see you’re in Lake Tahoe area as well. That’s great! I’m considering hosting a small meetup in Tahoe in the next month. Would you be interested in that? Would love to hear more about your experience in the area as an agent.

@Nicole Flakes depends on your return. And how many units. If it’s less than 20 units you can probably self manage. If you are making %20 return how comfortable are you giving half away? You may be rolling and have no mortgage. Great than think about!! Property managers at times have a cascading effect where they hire more expensive repair people, don’t truly “care” ect. If they are also a real estate company they may be focused on deals and have it as an ancillary business.

One or two plane tickets a year and becoming a Yelp master is all you need in 2021 if you are good with people. (I’ve never even needed the plane ticket though keep the mental ticket in my mind and will hop on a plane if really needed) Got a problem? Yelp it and deal. Good luck!

The changing landscape of local politics means that a local commission or board can cap/cancel/ban STR's with minimal input from the community. We now make sure any new STR purchase also works long term, so if laws change it still cashflows. Now I think STR's as more of a bonus more than a basis.

@Prachi Metha try and go twenty bucks cheaper than the cheapest listing in your area. If it still doesn’t rent then you may need new photos/verbiage/marketing.

@Devang Patel I sold 1 of my first rentals rental early this year after doing the math on how many years of rent it would take to get to my profit. I then invested in Bitcoin kinda early ish, then pulled it out, luckily before BTC came back down. Having cash to play with is nice, though the rollercoaster has given me a fresh appreciation for real estate and holding. It just so happened I didn’t love putting time into that unit so cashing out has had other benefits in terms of balance. Also now I’m ready to rock. Yep I just paid taxes It actually felt great in this instance, like I was a contributing member of a bustling society, or something:)

The metaphorical wilderness that is..Just found something that I'm excited about. It's avail and we can make an offer. Apartment building multiple structures the rents are low the area is incredible. Excited to deep dive this one.

I don't have a circle of Wholesalers I've always found great deals on MLS with patience and hard work. I'm starting to think this just doesn't work anymore. I've started checking loopnet and have found some interesting small apartment buildings though almost seems it's in contract before it even hits loopnet( like it went to a pocket client and they just posted it for the heck of it). Before I was an agent I would BLOW EVERYONE up as a buyer(usually I was in a dual agent situation so I offered that extra commision on the table as incentive) and would find myself on the top of the pile and getting in contract. Now that I have my license it feels strange to do this I don't want to annoy people in the industry. Any insight on how to push through. I know its not that easy and am ready to work to find these deals. Are wholesalers the only avenue for this?