All Forum Posts by: Brian Plajer

Hello,

  I have heard so many stories about wholesaling to start off and it sounds great but I never hear about the situation when you don't have a buyer and are stuck buying a property that you don't necessarily want. How many of you have had this happen, especially as a newbie, and how did it play out?

I used a HELOC for my half of a down payment for a vacation rental property. It hurts, in the short term, because the adjustable rate is about 9.4%. However, that's cheaper than hard money and it got me in the game. I knew I'd have a large payment and I hope to refinance the property if rates eventually come down. In the meantime, I use my W2 income to pay the HELOC minimum and try to through between $500-1000/month toward the principal to pay it down.

my point is you have to pay some how and if the hello is your only option to get in the game then I say go for it.Good Luck!

I am thinking of adding a pickle ball court to our beach rental property with the hope of increasing off season rentals. If we do, I'll let you know the cost and if we see increased bookings in the off season

@Samuel Lynch Hi Samuel and sorry for the delay. The home rented one week in MAY, all of June and July and still has a couple weeks available in August. We obviously hope they book up. Overall, for the first full year we are happy and optimistic. 

@David

@David Pierce I see that you manage a few properties in that area.  I'll keep you in mind if I device to pull the trigger. I'd visit in advance to get the lay of the land. 

@Brian

@Brian Bussey Sure, I'd love to see some of your projects. Do you build any multifamily units?

@Michael Plaks thanks for the link, I'll check it out

Hello,

  I'm an investor, less than five properties and growing. I have heard several podcasts about the importance of a solid tax strategy. My current tax preparer does not seem to offer much of a strategy with regards to real estate and long term planning.  I recently spoke to a CPA with real estate experience and they have an added bonus of being a financial advisor which can certainly be helpful to me.  I was a little surprised at the cost for the services which are $500/month. This does not include any tax prep. Its a fee for tax planning and financial advise.  When I think big picture it may be well worth it if the service saves me more than that amount or helps me generate more than that amount.  I'm curious what other spay for these services and is it worth it? Maybe this is something I need when I  have a few more properties or maybe its smarter to start planning now. Happy to hear thoughts, opinions and most importantly experiences. Thanks, Brian

@ChrisRich Thank Chris....is that really your name? Its perfect! Let me see if I can find the article and take a look. 

@Elmer Urias I ended up buying a vacation rental on Emerald Isle NC instead of Ocala. Keep in touch if you buy there