All Forum Posts by: Courtney Mercier

Thanks so much for this intel. Interestingly enough I am looking to spend more time and move back to San Diego - I noticed thats where you're from. I've been looking at properties casually but would want to use this money to buy something in need of TLC and either fix/flip or keep as an STR depending on the properties that come available. Also to cash out some funds and start a build in Cabo...

Do you do any investing in raw land that is sub dividable?  I just made a post in that category as well that I'd like to learn about buying lots that are R-2/R-3 and splitting them and selling off all but one to build on personally... I don't know anything about this process as well as California laws which are, im sure, entirely different than the ones in Vermont.

The home is located in Stowe, Vermont. I would definitely be interested in learning more about those types of loans. I have two other homes that I do rent out as well, and another property that I used to and then sold after STR with nice returns and nice appreciation - so there is plenty of history. It would be nice to know what my options are, in full, so I can make the most informed decision possible.

Thank you!

Hi!

I am a total beginner in this corner of the RE universe and would love for someone to help with mentorship and/or showing me where I can learn more about... 

Lots that are sub dividable.  I have been looking for a home in Southern California... which I do not want to go the typical route because of competition and also my tax returns are not so friendly to conventional lenders.   I have wondered, at length, about purchasing lots that are zoned R-2 / R-3 and selling off the the one or two of them and then keeping one for myself and putting a home on it.  I have even considered doing spec homes with a builder on the other one or two lots. My dad was a builder (but has now passed) and I just think this makes so much sense but need to find access to the knowledge and potentially an investor/creative financing to do the rest.

Anyone who could offer any advice/time/links to info would be greatly appreciated. 

Cheers, 
Courtney

@Michael Baum - agree that its a golden goose... thus the difficulty letting go... however I disagree that its not possible to find another when I've done it in 2 other locations... the last one was a condo I bought in 2021 for 250 and is now worth 650... and rents for 8-10k a month in the winter months... there's always opportunity for more!

@David M. - thank you.  this is definitely helpful intel... I feel like the 12% private lenders are the only option and I will have to recalculate to the penny this week on my yield... and what new tax increases and reassessments could mean to the bottom line.  I will reach out about your experiences with matchmaker/brokers.  thanks so much!

@Andrew Freed -I do not have the opportunity for a conventional HELOC/pull on equity because my tax returns/debt to income ratio are not so desirable to lenders. I would be 1031'ing for sure bc there's no way I'd be able to stomach losing all of that $ to capital gains.

@Andrew Steffens - See above

@John Underwood - see above

@Jay Thomas - yes... agree and have thought of future appreciation although the house is so big (5,000 ft2)that it will take me so many repairs bit by bit that I feel like it will get to be time to start Renovating back at the begin again by the time I get to the 'end' of the renovation. haha creative financing is indeed the only option at that point - but then leverage becomes a larger stress point than being mortgage free-ish and just cash flowing 'passively'. also to note is that my town just approved a giant tax bill increase and I already pay 12k a year *insert eye roll emoji*


 

Hi -
Looking for advice. I have a home that is an STR in a highly desirable tourist destination. It does VERY well with STRS and has a ton of equity as I bought it in 2015 and the value has skyrocketed. It is also very big and requires constant reno/repairs.

My tax returns are laugh worthy to conventional lenders and I have 2 other properties so my debt to income ratio looks ridiculous to the average underwriter... but the cash flow is definitely there.

Wondering what other creative ways there might be to keep the property and buy more units to do the same with or should I be cashing out on the ton of equity I have and use those funds to buy outright and chill on the cash flow?

This property grosses about 250k/year and has $1.8mil-ish in equity...

Anyone care to weigh in? It may just be a matter of what kind of lifestyle I'd like... but wondering if there are more lending options to use that equity that I don't know about/creative financing that may make it more interesting to hang on to.

I would definitely like to purchase more STR's and/or fix/flip into STR's so it would be nice to have access to more funds.

Hi - 
Looking for advice. I have a home that is an STR in a highly desirable tourist destination. It does VERY well with STRS and has a ton of equity as I bought it in 2015 and the value has skyrocketed. It is also very big and requires constant reno/repairs.

My tax returns are laugh worthy to conventional lenders and I have 2 other properties so my debt to income ratio looks ridiculous to the average underwriter... but the cash flow is definitely there. 

Wondering what other creative ways there might be to keep the property and buy more units to do the same with or should I be cashing out on the ton of equity I have and use those funds to buy outright and chill on the cash flow?  

This property grosses about 250k/year and has $1.8mil-ish in equity... 

Anyone care to weigh in?  It may just be a matter of what kind of lifestyle I'd like... but wondering if there are more lending options to use that equity that I don't know about/creative financing that may make it more interesting to hang on to. 

I would definitely like to purchase more STR's and/or fix/flip into STR's so it would be nice to have access to more funds

Thank You!
Courtney

I am just purchasing a second investment property. imI use them both as short term vacation rentals. They are both under the same LLC, so are OK being under the same Quickbooks company file - however I want to make sure to track income and expenses separately so that I can analyze profitability separately on them.

Does anyone have any suggestions on being as efficient as possible with this? As a vacation rental I am already doing a lot of entries with income. I’m trying to keep from doing too much additional work and would like to keep it to one company file - but making sure i can track both is important. 

Thanks!