All Forum Posts by: Christian Latimer

Is the current loan a USDA,VA or FHA? if not, you will not be able to assume the mortgage.

Hey Christian, 

What interest rate does he have and how much will you be losing a month if you buy it sub to? Also how much cash out of pocket will require to buy it sub to? If you're close to breaking even and you're buying with almost no cash out of pocket it may still be worth it. 

However, if you put 20% down tho, and is still loosing money there is no reason for you to buy it. 

Smart move starting out with Yourporter. Security deposits are important and I'd use Luke's rule of thumb in this case. Another thing I tell people to look into is having good STR insurance such as Proper or Safely as well.

Hey @Christian Latimer,

The property is cash flowing very well so far.

We made out around $12,000 for our properties. This includes around 10k for all of the furnishings and an extra 2k for staging and other miscellaneous items. It really helped that my wife is a trained interior designer and our boots on the ground partner completed a lot of the labor intensive efforts. We sourced everything from Amazon or local second hand stores. 
Hope that helps and good luck with your STR. Let me know if you need any help with the design or want to take a look at our basics wish list we have put together on Amazon.