All Forum Posts by: Brian Mackey

Hello,

Potential Deal - Owner Finance

Price - 180-200k

Duplex - both sides are a 2b/1ba

Would need about 20-25k in remodeling.

One renter on one side, the other side is the owners niece that is just paying the utilities (I do not believe the owner actually wants them there at this point.)

The owner has mentioned that he’s ready to move on from it, kinda just done messing with it.

He hasn’t put a price on it but I can’t imagine it being more that 180-200k

I want to offer a decent down payment to entice him in at about 15-20k, but as far as the interest rates, balloon payment, and amortization schedule I’m not so sure.

I wanna do this deal because it is literally right across the street from me in an appreciating area and I know for a fact that I could generate at least 2k a side using Airbnb.

What are some reasonable terms that I could offer without creating a huge mortgage payment to the guy.

Side note: he is only getting $650 from the rented side. I’m thinking a mortgage of 800 to him would be worth it

Thanks in advance,

Brian

@Jeff Adams

Jocko Willink?

@John Payne

Did you ever find anything in that market. I see a bunch that could be potential BRRRR's

@Forrest Greene

Vacation Rental Machine

And

Short Term Success Stories

Two great podcasts...and just go for it man. I AirBnB my main house and live in my back ADU. Once you get a few good reviews, superhost status, understand how the guest communication and experience should be, you'll ease right into it. The only thing that sucks for now is the cleaning. We live right behind the place like i said and my wife has scheduled her school schedule around cleaning the unit, but if we were to get multiple Airbnb's we would 100% pay someone.

Just do it.

May I ask why you are wanting to get rid of the AirBNB property??

@Amy Verges

I have a friend that does it in denham springs as well. Always booked.

@Amy Verges

I just started, but the occupancy hasn’t been an issue at all. It obviously depends on the pricing, but I get people in their all the time, for all kind of events, birthdays, weddings, passing through, work, or just to get away....90% occupancy easily.

I am downtown BR.

I love STR

@Tanya Rooney

So you’ve been pretty successful getting off market deals?

Are you doing any creative financing to acquire them?

Hello Tanya...How did this work out for you?  @Tanya Rooney

@Brianna Andreola