All Forum Posts by: Garry C.

That's what flipping is for. You're even factoring in holding costs, so you're halfway to making the numbers work for a flip. A little less easy, as you now have to hire out some remodel, but if the deal is solid and the numbers work it should still feel like easy money.

Ask the seller about it. Perhaps there is an agreement with the SIL to move when it sells. Regardless, also drop in and talk to the 'squatters'. Maybe a cash for keys deal would get them gone and save you property damage and/or legal battle.

It's discussed quite a bit here:
https://www.biggerpockets.com/forums/49/topics/280...
And probably in other threads as well.

@Drew Fein may be able to assist.

@Lashaw Salta - Welcome to BP and when you get here welcome to Denver too! 
Since you're now on BP, it should not be very hard to find a good property manager in an area that you wish to invest. I think what you've been reading might be better translated as "It is very important to find a good property manager, if you plan to do out of state turn-key investing."

And I thought the ones at the Bicycle Cafe we're getting busy. This one is sure to be packed!

'Converting' a property to an STR and deeding your mortgage to an LLC are two entirely different and unrelated things. Unless you know something that I don't. If so, please educate me.

Also, what's wrong with conventional financing for STR? If I've got 20% down and I'm making my payments on time, which banks care what kind of rental it is?

Strong work Sir! You're an inspiration for the rest of us. I've got a ways to go yet, but give me 10 more years and I'll be right behind you.

Is this property still available? Has the price been reduced FROM or TO $208k?

The "Other" option should include a write-in feature, so people can explain what they did. Not sure if EasyPolls allows for that or not. And I guess that's what this thread is for too.

I paid cash for my first property. That was 4 years ago. It's since more than doubled in value and I've pulled out almost twice what I paid to buy more.