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Updated 5 months ago on . Most recent reply

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Sean Petrash
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7
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Newb looking for wisdom

Sean Petrash
Posted

Hi all! I'm a travel RN with a few flips under my belt, one commercial property that turned out well, and am looking to purchase a property in New Braunfels, Tx to live in for potentially 6 months out of the year. I thought it might be a good idea to make it an STR while we're on the road as the area does pretty well from I've heard. I haven't looked into the air DNA app to confirm this, but I know it to be true.

I've interviewed a few realtor/investors. I have a mentor in the game that is very successful as a yay or nay resource. I just started applying for lending and have excellent credit with zero debt so it shouldn't be a problem. 

One of the realtors was skeptical that I can get into this market for $200k, and, I agree, it's a bit of a stretch, but with the pay cut I'll be taking going down to Texas, that's about as much of a mortgage as we can afford on one income. Then, hopefully, recoup some of that cost when we're on the road. 

I may have to drive for dollars and scout out my own deal, but the problem with that is all of the stipulations that come with the STR restrictions. New Braunfels doesn't play. I've heard that as long as I'm outside of the city limits I should do ok. Other, lesser returns would be furnished finders, or just a straight 6 month lease with a tenant.

My question is, does this sound like a good plan to start off our real estate investment journey with as little debt as possible? What else should I be thinking about doing, or doing at this point? Thanks ya'll!!! :D

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