We want to scale up our STR business.

Hello,I'm reading Avery Carl's book "Short-Term Rental Long-Term Wealth" and she mentions setting up a designated business account and making housekeepers fill out a W9 and paying them through direct deposit or an online invoice payment platform.

Even with the property value correction recently, you are correct it is still very hard to cash flow in Austin without creative strategies such as Short Term Rentals etc. 

I'm thinking about negotiating for a 40% stake in the overall business or a portion of the revenue from new members.

I would use the long term strategy as the exit strategy since str laws are stricter. 

Most require skin in the game on deals and work like this:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

If this LLC was formed after January 1, 2021, it needs to be registered with FINCEN.Ongoing Compliance:Annual Reports: File annual reports with both Nevada and Michigan to keep your LLC in good standing.State Taxes: Check if you need to file state taxes or pay fees in both Nevada and Michigan.General Compliance Tips:Local Business Licenses: Depending on the city or county, you may need a local business license for operating your LLC.Registered Agent: Ensure you have a registered agent in each state where your LLC operates.

This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

We are lucky to have contractors we use regularly locally and get bumped up in the cue when we need work done because they know we are here for the long haul and will keep bringing them business. 

Wholesaling is a competitive business in most markets and takes time and resources.