All Forum Posts by: Rhonda C.

I believe my 6 month old HELOC that I have never drawn against is keeping me from qualifying for a conventional loan on a second residence. I am not a loan officer, but wouldn't it be in the bank's best interest to close the HELOC and offer a 30 year fixed without much hassle?

Thank you so much everyone. That was very informative!

Can anyone describe how they used their HELOC to buy a place outright and quickly, then turned around to get a traditional mortgage on the same property? Are there restrictions on doing that?

Hello everyone,
I am buying a condo in the heart of Leavenworth to use as an income producing vacation rental. I have not closed on the property yet, but am already overwhelmed with what needs to be done!
1. bathroom bath/shower works, but looks terrible..
2. the kitchen is 1990 so appliances are tired.
3. Octoberfest, one of the 2 busiest times of the year is almost here ie highest $$/night of the year. Feb-May is DEAD
4. Almost forgot...A/C is the wall unit that you find in older hotels. This is not urgent, but wondering if anyone has ripped one out for something more asthetically pleasing?.
Do you recomm end that I remodel the shower (at the very least) or just give discounts to vacationers and communicate as to why, so I can at least realize profit right away? Or stop stressing about October and spend that time updating the place to be in shape for Nov?
Has anyone offered a less than stellar rental for the short term?
Thank you for your ideas

Thank you everyone! You have been very helpful.

It is a condo in historic Leavenworth, so no washer/dryer possibility.

Can anyone tell me how to manage a vacation rental property (condo) that doesn't have a washer/dryer? I am told the housekeeping will just replace with the alternate sheets and towels and bring back the other next time. Thoughts?

Hi @BrandonTurner: is there a podcast on Commercial RE coming soon? I would really like to hear one!

Thanks

Does anybody have a fabulous tax advisor they can recommend in the Bellevue/Seattle area? Thank you!

Glad to help. Anytime you need an editor, let me know! @Brandon Turner and @Joshua Dorkin I have edited several books ;-)