All Forum Posts by: Angie Shires

@Candace Pfab I'll be giving you a Call soon!

@Ross Kerne I hadn't thought about the off season visitors. I suppose that's something I should really look into! Is the market just flooded there in Orange Beach & Gulf Shores? Do you stay pretty booked, what % do you book over the year (as in you have occupancy what % of the year). 

@Candace Pfab Thanks, I guess the Caribbean should have probably been an obvious no (guess I was dreaming of a Caribbean vacation whenever I wanted it)! 

How have your property management companies performed? How long have you used them? Thank you both for the responses! 

We would like to purchase a 2nd home, Caribbean, Florida, Gulf Shores, North Carolina...you get the drift. What we are hoping is that renting this on Airbnb, Vrbo, etc will pay for the mortgage. Now we know that it's seasonal and that we have to take into consideration that most of our money will be made Spring/Summer...that being said, who is doing this and is it working for you? 

Any advice is appreciated! 

@Brant Richardson we are looking at $775 to rent. Long term wealth and acquiring  enough cash flowing properties to sell our other business is what we are looking for.

@Michael Noto we are fortunate at the moment...we all know that can change in an instant! 

@Jonathan Smith our payments should be minimal on the property, so my thoughts are as long as we screen tenants and keep vacancy down, we should be in great shape. 

Thanks for the input everyone...I guess as in most cases, I already knew the answer...just talking it through helps! 

@Jasmine Tucker I’m honestly not worried about the equity. It’s in a good location, and we are financially able to hold on even if the market dives. We are thinking long term.

We are only considering flipping to gain a little extra seed money.

@Sara C. That’s kinda what I’m leaning toward. After all, that’s really our ultimate goal...to create cash flow.

So we have purchased a property that we had every intention to buy and hold. This would be our first true rental property...purchased for 16k, will require about 20-25k to rehab. ARV will be 60-65k.

Here's the big question...we know we eventually will end up in the rental business. We need to either BRRRR or flip to find out next deal (hopefully by the end of 2019). What would you do?

Pros and cons please!

Congratulations and good luck! Have you tried using the calculator and posting it for review? It helps to know if your numbers are correct. 

How are you finding your deals?

@Saami Siddiqui Congratulations! It's a challenging and fun business, but you'll have a lot of experience to get under your belt. @Russell Brazil nailed it...who has the listing market sewn up? Pick the brokerage that has the most signs in the yard...those signs make the phone ring, and have the agents that can teach you how to become a successful Realtor! 

Go to the meetings, listen to everyone and pick and choose what you think will work for you! Splits are important, but that will come with time. Surround yourself with successful people build relationships. 

Good luck to you, keep us updated! 

@Brian Watts Looks like you're in with both feet, congratulations!