All Forum Posts by: Cole Simpson

Absolutely I am buying, as much as I can, rents won't drop and if they do it won't be ,much, if it cash flows it will always be a good deal. Also Inflation at 8%, prices are going up.

We do short term rentals in NC and SC and depending on the market are cash flowing between 15-25%. Don't love Florida because of the taxes and insurance personally, maybe look at the Carolina beaches, more affordable and less competition.

Sadly, I have to agree with Nathan G, doubt you can qualify for a primary with projected income. Will probably have to find another way

This is just a multivariable question. I prefer Helocs because I only use as much as I need, I don't mind keeping a balance on my Heloc because interest is using fairly low. Rehabs are going to allow you to create equity but sometimes you have to ask is the juice worth the squeeze. Not being able to get a vacation loan is hard because you have less leverage, I would try and find a 15% loan for the same reason (more leverage tends to be the way to go in my opinion). With 15% in my market you are looking at you could probably buy two properties off the bat and they should cashflow you conservatively 2k a month, could be up to 3k. So that looks like 4-6k in cash flow. That is what I would do, with this market you probably could refi in a year, but even if not, gives you plenty of cash to pay off hello etc. Just my two cents

I have loved the Carolinas, think it is underrated and lots of opportunity here 

I have a friend who airbnbs a mobile home in SC and does really well. I agree with Adrian just make sure everyone knows (park, city, etc) but I think it is a good idea and could be profitable. Just a step away from glamping which is killing it.

@Jorge Guilson Garcia teaming up is a great idea! In the beginning, what matters most is getting started. Analyze a deal a day until you feel comfortable pulling the trigger. The first deal doesn't normally end up mattering.

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

Good luck with your investments!

Great point here! This is definitely a personal choice of what to focus on, and it looks like you know exactly what to do when you said, "I want more than anything to begin this journey."

It is a fun adventure. Best of luck!

@Hussain Harun I totally agree better to get started. Thanks for the post --great question! 

I agree, great point @Trish Mccoy @Rebecca Sequeira 

@Anthony Conrad looks like you've already got great pieces of advice here. I'm also focusing on STR if you have any specific questions, would love to help.