All Forum Posts by: Brittany Stradling

My family and I are gearing up to purchase another primary residence in 2 years. Therefore, we want to ensure that we are prepared and there are no surprised. I feel like I've read somewhere that if you have a vacation home, you cannot count the income towards DTI? Is this true?

We currently have one cabin and one primary residence. 

I would be using a VA home loan if that matter.

This is so helpful! 12% COC for a long term rental is pretty good, so I can only imagine how it performs as a mid-term. Have you ever gone back to calculate your actual COC for your mid-terms?

I'm curious what COC you all are seeing, particularly those who didn't get a mortgage with a 3% interest rate. I'm considering adding a medium term to my portfolio and at the very beginning of information stage. I plan on ready 30 day stay as well

I know everyone loves to keep their list of contractors close to their chest, but I would greatly appreciate any recommendations. 

Looking for investor friendly contractors including

* Handymen

* Exterior painters

* Interior painters

* Someone who can install floor tile

* Asphalt contractors

 Thank you and sure! 

1. I used a 5% down, no PMI vacation home loan from Navy Federal

2. I used my own cash for the down payment and asked sellers to cover most of the closing costs. 

3. Self managing all the way. At this point in my journey, I'd rather take the time to self-manage vs writing a check. 4

4. The home is outdated but will rent as is. I need to do a few minor updates like adding a smart lock and cameras before it's rent ready. I plan to completely renovate the place during the off season. 

5. I picked the smokies this time because it was safe. Next time, I want something with a little more cash flow and a lower purchase price. My next deal will probably be a mid-term rental in Indy (my next of the woods).

Thanks! I am excited! I am a veteran, so I have access to a lot of favorable loan products. I used a 5% down, no PMI vacation home loan from Navy federal. I also asked the seller to cover most of the closing costs. I end up having less cash flow since its only 5% down, but I just wanted to get started and have some skin in the game

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $23,000

1 bedroom short term rental in the smokies

Construction material are the actual materials. The builder's labor/profit is what the builder is charging you. For example, a toilet would be 150 but then you need a professional to install the toilet. If charged $50, that would be the builder's labor. 

The project costs are things like draw fees, closing costs, and utilities. Some lenders charge a fee when you take out your money throughout the project; these are draw fees. 

Good to see another Hoosier on the forums! I will definitely reach out!

 I will be in touch! Thank you!