Smart LPs need to look deeper if they are to make good selections.The sponsor’s number one job isn’t to buy real estate—it’s to not lose people’s money.  

You made a smart first purchase in L.A.

Here is what I proposed:Setup fees : Administration Setup:One Time Fee: $400Guidebook: Using professional photos give the guests a professional tour of the house and how the home works (Wifi passwords // How to use grill // How to use propane fireplace // Hot tub instructions // Sauna instructions //Check in and check out instructions //where extras may be storedOTA (Online Travel Agency) setups: taking professional photos and actively updating your listing on popular platforms;PMS (Property Management System) Setup Smart Pricing Set upWebsite integrationOther (furniture arrangement / design / décor shopping and set up) $50 per hour· Placement fees · Marketing Cost: Variable depending on needs/wants for marketingFacebook AdsGoogle Ads Cleaners: Set up procedures/take pics of expectations· Management fee—30%Guest communicationCleaner communicationSetting Rental rateDealing with small maintenance issuesBooking CoordinationSmart Lock integrationKeeping supplies stocked (TP, paper towel, all cleaning products, coffee, filters, creamer, sugars, teas,)(Receipts would be submitted on a monthly basis for either reimbursement or book keeping purposes)Encouraging guests to leave good reviews by periodically checking in, providing a review template, and ensuring guests receive the amenities they are looking forContinued marketingMajor Maintenance fees—OwnerCleaning and laundry services fees: Cleaning fee to the guest depending on how cleaner wants to charge

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Many Multi-family properties now in debt service trouble as the GPs took out very risky 2-3 yr floating rate or adjustable loans so they could cash flow after buying very expensive 3Cap apartments, which loans have gone from 1.5% to 5% or higher, and knowing that obvious and predictable risk since every primate could see mega-inflation coming in early 2021 due to more money printed in 2 yrs than first 200 yrs of country, They "smartly" took out Rate Cap insurance, (cost 50k for a 12 month policy on 10mil loan to cap variable insurance rise about 1-1.5% above the origination level) but now that US 10yr up 10x from 0.31 in 3/2020 to 4.2%, that same insurance policy is 1.5-2.0 million not 50K, so They can't cover the much higher debt service nor buy new cap insurance without shutting down distributions or capital calls.

It's the magnifying glass at the top of the page.

Know what a good one looks like, do your research, make smart choices, and supervise.4.

The problem is it sucks, it barely works, it's surprisingly unintuitive for something so simple, and barely any guests actually use it.Which is kind of the same reason we're not discussing this on Google+ while wearing our Google glasses and talking about which version of Google Stadia is best to put into our homes as we communicate with our cleaners through Google Hangouts.While google obviously has a few big hits like Maps/Flights/Gmail, the majority of google releases follow the same pattern of great technology, horrible interface, no marketing, and eventual abandonment by Google. 

Hey Drew, leveraging an FHA loan is a smart move for young investors like you looking to house hack.

Thanks to the eduction we've received at BP, my husband and I have made massive changes to our lifestyle recently, and begun moving our six figure savings from places it was doing us no good, and into smart real estate investments.