All Forum Posts by: Account Closed

@Jordan Moorhead it was for an Airbnb and I got spooked by carrying it for so long until the busy season.  All of the what if’s hit me like a ton of bricks.  I should’ve just stayed calm and trusted that we have money that could cover the mortgage for a few months.  I need to push past the make money part and KNOW that it actually TAKES money to make money.

@Ola Dantis. Thanks for that.  I appreciate it more than you know.  

On another note, I am meeting with a mentor tomorrow.  Will see if he can help get my *** into gear.  

@Al Pat I’m in central va.  Charlottesville.  Plenty of investors here.  I keep getting won out by them so obviously people are making money.  I just need to get these negative thoughts out of my head and push through.

@David Rollings I calculated with Airbnb in mind and when I went through worst case scenarios and if it had to be a long term rental I would barely break even.  I got massive cold feet and balked.  

@Michael Slockers I love that!  GETMO...will keep it in mind!

@Janell Saunders good luck to you as well!  I hope we are both successful at this!

@Kyle Brodwater exactly, if the Airbnb’s were to become illegal, I would just be barely break even on a regular rental.  And that fear is what put me over the edge.  As of right now, Airbnb’s are being regulated and as long as you get the proper permits etc, you are in business.   The city likes the tax revenue, so I don’t see it going away any time soon.  But I am always a “sky is falling” mindset.  I am trying to work through those fears (I get it from my dad...who has been successful, but a sure and steady kind of guy).  I am really trying to work through some of the paranoia and trying to find other ways to find houses rather than the mls (I live in a pricey area that’s still hot and pretty well insulated).

I appreciate so many comments on this thread.  It is encouraging me to pick up my big girl pants and keep moving forward.  No point in living with regret (even though I know I could’ve tricked out that awesome bar  in the basement ;)!  

@Todd Powell. Cold feet I guess.  I calculated the property with Airbnb in mind.  And everything seemed great.  Then I started researching more and thought I would need a full second bath and started adding that to my calculation.  Then I thought, what if Airbnb isn’t sustainable (I mean it is now where I live, weddings, university, vineyards), but things could change.  I wouldn’t even be close to the 1% if I had to keep it as just a rental and it scared me.  Not sure if I am looking for a unicorn.  A property that can be 1% as a rental and of course more as an Airbnb. 

So basically fear took over.  And I couldn’t decide if it was rational.