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All Forum Posts by: Chuck Payette

Chuck Payette has started 4 posts and replied 16 times.

Post: mid term scheduling question

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

Great strategy Jean H.  Thanks for the tip

Post: mid term scheduling question

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

First time airbnb owner- I will be doing 30 day minimum rents primarily for Mayo medical patients in town for treatment. How do I avoid big gaps between renters? ie someone books June 1-28 then next one books July 15-Aug 15-how do I avoid that 2 week gap in bookings if I have a 30 day minimum? 

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2
Quote from @Chuck Payette:

I am preapproved but the condo I am buying HOA docs won't meet Fannie may requirements. Looking for alternate lender. Good credit/down payment and a cash flow positive property in MN


 Shout out to everyone who had insight and options for me - thank  you - I was able to get approved and have closing scheduled for Monday - closing just one week after loan approval!

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2
Quote from @Kyle Potswald:
Quote from @Chuck Payette:

I already shared that Eliott and have multiple replies now - thanks for the interest though - have a good day

 Hi Chuck,

feel free to reach out to me, our bank can do an in house loan on this.


 Thanks Kyle - I was able to get approved through a local - got turned down at two others but kept at it and on track to close Monday!

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

I already shared that Eliott and have multiple replies now - thanks for the interest though - have a good day

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2
Quote from @Daniel Anshus:

@Chuck Payette this is a very risky deal, not only will you most likely be responsible for any repairs, updates etc but it will be a challenge to sell the property in the future. This creates a big potential problem for future you.


 I appreciate your concern Daniel - thanks for the insight

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

I appreciate the info Tim - I have reserves and this one cash flows about $600 per month and the HOA has over $16k in reserves as well

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

thanks!

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

Thanks!

Post: Regular lender can’t help me HOA concern

Chuck Payette
Pro Member
Posted
  • Posts 18
  • Votes 2

Will do - thaks