All Forum Posts by: Ben Lockspeiser

Thanks for the info @Aaron Frances, I need NY and CT though. 

@Aaron Kerwin what about removing a % of your DTI prior to the 12 months?

Has anyone found a viable company on the east coast, I've called about 6 different companies, AugustREI included and nothing. 

So I use YNAB for my 2 LTRs and plan on using it for the STR I'm closing on next week. I have a section for each property and then line item each needed category (mortgage, utilities, etc.) I have a general house fund for each address that I put all my expenses I plan to claim as write offs that aren't recurring like a new boiler. It's work well so far!

Awesome, congrats! I'm currently working with a realtor right now but will let you know if it doesn't work out.

Hey @Brandon Ribeiro how's the process going? I'm looking around Lake Wallenpaupack as well currently. 

@Mike Smith thanks, that's exactly what I was looking for. I 100% plan on going into this like a normal business deal without the idea of, "o, it's family, we'll figure it out later", I just haven't thought of what a normal business deal would look like. Thanks for these examples, time to put a few together and meet with the group.

Thanks for that John, I would use it as a vacation home and a STR. Sounds like I would still need to get that reviewed by a lender.

I want to purchase a STR with family members as a second home so I can put 10% down. They want a place to park their money and see some appreciation and return, and I want to use it as a way to offset my w-2 taxes which my CPA has advised is the best way at this point. So I'm curious how best to structure a purchase deal that isn't a partnership but instead something with debt or equity.

I want to purchase a STR with family members as a second home so I can put 10% down. They want a place to park their money and see some appreciation and return, and I want to use it as a way to offset my w-2 taxes which my CPA has advised is the best way at this point. So I'm curious how best to structure a purchase deal that isn't a partnership but instead something with debt or equity.