All Forum Posts by: Davis Hardin

Quote from @Dominick Johnson:

Sorry to be blunt, but your deal isn't going to happen due to financing. You wrote an offer without having financing in place first? A conventional loan is going to require a downpayment of 20% minimum, and if you have no money to put down you will have zero chance of getting a million dollar loan. Most hard money lenders require some money up front as well. Best of luck!

Thank you for your response! I have been educating myself for 2 years now and I am just trying to get started! So I kind of hopped in and thing were rolling (really exciting and thrilling!) I know this is the type of stuff I want to do for the rest of my life! I appreciate your time and would love for any other advice you have to offer! Thank you!

Thanks to all that responded! I really appreciate y'all for providing me with advice! Thank you!

Hello everyone,

I am about to buy my first vacation rental in Fernandina, FL! Can someone please help, things are starting to get real scary when figuring this out and I'd love some advice on how to make things better. The deal is a duplex right on the beach, zoned r-3, and in 2021 brought in $200,000 in revenue (was taken off the rental market when seller placed on mls). The offer we have right now is 1 million upfront (hard money lender or conventional loan, please help with finding which one is better) and seller financing the rest. Looking at it, we have no money to put down and nothing to place as collateral (seeing as it is our first deal). I want to make this work and buy and rent it but honestly would be find selling it to someone else or really bringing in investors. Please help.

I have a couple of properties that I am looking to wholesale, but do not know where to find buyers!

Hello everyone,

I am about to buy my first vacation rental in Fernandina, FL! Can someone please help, things are starting to get real scary when figuring this out and I'd love some advice on how to make things better. The deal is a duplex right on the beach, zoned r-3, and in 2021 brought in $200,000 in revenue (was taken off the rental market when seller placed on mls). The offer we have right now is 1 million upfront (hard money lender or conventional loan, please help with finding which one is better) and seller financing the rest. Looking at it, we have no money to put down and nothing to place as collateral (seeing as it is our first deal). I want to make this work and buy and rent it but honestly would be find selling it to someone else or really bringing in investors. Please help.

Well, it is literally a 30 second walk from the beach, and a lot of other cool features such as the bottom floor could be rented by itself (full kitchen downstairs and upstairs). It was family owned for 22 years so right now there it has not been a vacation rental, but the similar type properties are between 275-450 per night. My guesstimate for the furnishing for the house will be around 20-25 k.

Hello, my name is Davis Hardin and I need help... Like asap. I have found a fantastic deal that is perfect for an Air BnB/ Vacation Rental in Fernandina Beach, FL. I am currently trying to set up either a Sellers Finance deal, Subject to deal, or a mix of both. This is my first deal ever... Please help!