All Forum Posts by: Dale Overbay

Thanks Zarina! I actually already signed with a property management company last week, so I'll let you know how they work out. I contacted literally 6-8 different companies, some from recommendations and some from just my own searching. I've had mixed results, to say the least (I can't believe how hard it's been to talk someone into taking my money!). I was finally referred to Gate48 property management. So far, they have been excellent. They even use Basecamp to manage communications and document project status. Very impressive.

I just purchased my first short-term rental property in Mexico (a nice 2/2 condo on Half Moon Bay in Akumal). I'm looking for recommendations on property management companies in the area. Any experience with the property management services offered directly by AirBNB/VRBO in this area would also be helpful.

Thanks!

Great! Thank you for the information Just what I was looking for.

I've done some research on wraps and I've got a couple of questions. I'll try to keep this concise, so here are the facts:

I purchased a 4-plex a year and a half ago. I got the owner to carry at 7% for 25 years. Obviously, I am going to attempt to renegotiate the loan amount in the future and get him to settle. I am now considering selling with a wrap mortgage.

My question is if I do a wrap, can I still negotiate down the original loan in the future and keep the savings?

What is a reasonable percentage rate to ask for with a wrap?

Any advice or pitfalls I'm not seeing?

Thanks!

Just FYI, I picked up a rental car through Costco Travel for $50 out the door, picking it up at the airport Thursday and returning Sunday. Pretty hard to beat. I'd offer to give rides, but I'm going to see some friends right after I get to Denver. See you all at the conference!

The Summit is only two weeks away and my head is full of questions, so I've just got to see if anyone has any experience with this scenario:

While browsing through the local real estate listings, I came across an apartment complex for sale. The listing says it's fully occupied and based upon the rent in the area, the numbers look really good. The problem is I've got a short sale on my record from a year ago, so I'm going to have to get creative with my financing. I pulled the ownership information and found the name and address of the owner.

I was thinking about contacting the owner directly, offering full asking price, and giving him 10% cash down, but we'd have to do an owner carry or subject to agreement. He would also be saving on realtor and closing costs. Has anyone tried this approach? Any luck or am I just wasting my time? Thanks!