All Forum Posts by: Catherine A.

Hi Mike,

I have experience with a seasonal...no multi. I think the multi is the way to go. You can even rent the 3rd furnished unit as a vacation rental using a property manager with lower then market rental rates in the off season. That keeps your empty place occupied when you're not around, an extra set of local eyes watching the place and some possible extra income. Vetting your property managers thoroughly and maybe getting a one that specializes in vacation rentals/short term furnished rentals will help.

Also, be sure to check CC and Rs and any HOA requirements and restrictions regarding short term rentals on any properties...especially condos. Certain cities also have requirements on vacation rentals if you choose that route.

Hope this is helpful. Good luck to you!

Hi Xeniya, 

I haven't but... Perhaps you could call a few other reputable title companies in the subject property location and ask if this is a common practice. Also, you can tell the title company you're working with about your hesitation and ask them what they can do for you so that you know your money is protected. Good luck!

Hi @Jake Dion Kindem ,

Craigslist has a mapped search that you can run on apartments for rent. You can target the subject property location on the map and then filter for 1 bedroom. I often find 'room for rent' listings there and then run an average, deleting the highest and lowest numbers before running the numbers. Best of luck.

I'm looking at a property that is in a short sale situation. There appears to be a 2nd mortgage/loan on the property and that 2nd bank wants a specific amount in cash from the buyer (cannot be financed). I'm including this amount in the ROI and ROI + principle calculations. I'm also adjusting 1st years property value percentage based on offer price vs. market value. If I'm looking for cash flow, should I still be shooting for ROI percentages that I would want in a non lien situation to determine my offer price? If not, is there a range that I should be shooting for in property value percentage increase or is there some other calculation(s) that I should look at? Thank you for your time and help. Any input would be appreciated.