All Forum Posts by: Jeff Moore

Hey, What Tim Schroeder says is spot on. I sell vacation rentals to clients all day long who are happy to have second homes that pay for themselves. But, I already live at the beach. Mine need to make MONEY. My accountant's head explodes every year when I go to do my taxes because I need to show a profit on my rentals so I can qualify for financing to buy more properties. But, he always wants to show a loss. So a good accountant is key to match with your financial goals. You didn't say how much you paid for the property. If it is a $100K condo and you netted $5K that is pretty good. But, if it is a $400k beach house, you need to move your money somewhere else. 

Sounds like you need to drill down on your number a little better. I think you will find your remodel cost will be lower than $250K. Try to get a contractor to go look at the house with you. 

I've been struggling with this question too.  I own 5 properties and have mortgages on 4 of them. My cash flow is pretty good. For the last 5 years I have saved money to buy the next property. Now my income is decent and if I pay them all off I've reached my income goal. But the little voice in my head keeps saying "yea but if you buy one more..." If I was you, at your age, I'd save for the new property. Just be sure you can make the payments if there is a market adjustment in the next year or so. 

Hey, let me know when you're ready. I've been working on the same plan, and I'm a Realtor. I've been buying one property a year for the last 5 years. I'm getting pretty close to my goals. And there is a  great duplex on the market right now if you are ready to pull the trigger. I can set up an appointment to show it to you.

Yea, I'm doing the research now. Would you recommend your builder now that it is done? My lot is on one of the lakes. I want to find someone who knows how to do a walk out basement. But most builders around here look at me like I have 3 eyeballs when I mention a walk out basement. I should have Gulf views with two stories, but could go 3. 

I'm coming up on owning my vacation rental for a year, so let me know if have any questions about that aspect.

@Ryan M., what did you build in Laguna Beach? I have a lot there that we just decided it is time to build on. I'm going to start looking for a builder to get the ball rolling. Of all the Real Estate deals I've done, I've never built a house. I have to admit, it is intimidating me a bit. 

Hey @Michael Derespinis send me the info on your condo. I have someone looking for 3 bedroom Gulf Front condo, but he only has a couple of building he will consider.

I am an Agent and work in PCB and 30A. They are very different markets and there are advantages and disadvantages to both. Depends on what your investing goals are. If you still need help with Hard Money let me know, I have a pretty creative lender. I called him for a hard money loan for myself and he ended up finding a way to take it through conventional channels. I sold a vacation house to couple from MS this summer and they are loving it over here. 

Not sure if you've heard of it but check out rentlikeachampion.com. I just saw it on Shark Tank a week or so ago. I just looked up Athens and it looks like they have a lot of homes there. I'd say it is a good place to start marketing your new PM company. 

Hello! I just got signed up and wanted to introduce myself. I'm an agent and an investor in beach properties. I'm happy to give any advice I can on long or short term rentals, 2nd homes or where to eat. I'm also considering the idea of looking for partners to flip some houses.