All Forum Posts by: Jason Goretzki

This was very similar to my story. Was not a bad area, but we wanted to move closer to my place of business. Up & down the street there were easily 10+ other homes for sale. Since I had wanted to get into real-estate, I decided to just jump in & start renting it.

2 Votes

Everything comes with risk. We have been using a PM for our out of state rental for 10+ years.

1 Vote

Cleveland, Ohio

Originally posted by @James Galla:

You ought to consult an attorney when trying to investigate the benefits of having an LLC.

Additionally, an attorney that will defend you & your benefits of having the LLC.

0 Votes

@Adrian Orgill,
I'm not aware of any meetups in Baltimore. If anyone posts something, I would be interested in showing up. If you are in the downtown Baltimore area, I'd like to talk with you about Miami & see how I can help you out with Baltimore information.

1 Vote

Scott, I am sSending over contact information of a realtor that I've met with numerous times to view vacation rentals in Miami Beach.

0 Votes

While not using AirBnB, I am in the process of buying an STR in Florida for Vacation rentals.

With 20% down, they offered me the following

30 Year Fixed/15 Year Fixed - 7%
3/1 ARM - 5.875%
5/1 ARM - 6.125%

Some banks will not finance for property with less than 500 square footage.

@Mario Mormile
"Any recommendations for a lender?"
I was given the advice to search for lenders in Destin. After a quick search I found a list of best lenders. From that list I found one that was willing to work with me. If you want anything more specific, feel free to shoot me a PM.

Best of luck!

3 Votes

@Tristan Toliver

Welcome to BiggerPockets! Lots of good people from the Baltimore & DC areas on here! Best of luck!

0 Votes

The only landlord that I know who did tried to do this (twice) wound up having their tenant destroy the property, in addition to not finishing the job. Nor did the tenant fulfill the lease.

0 Votes

Originally posted by @Frank Patalano:

Originally posted by @Adonis Sowah:

@Frank Patalano What strategy to start with and how to apply my available funds to my objective. I insist on acquiring a property that I could use the BRRR strategy on . I was in the process of acquiring a turnkey property when I learned of the short comings of the area along with the fact that I will have to keep my job another 10 years. I also would be tieing up a lot of my liquid to purchase which takes me out of the runnings to purchase an investment property and rehabbing it for about another 4 years. So my question is I've got 40k to spare with pretty decent credit and I'm renting right now my first move has to be me best move and I live in the New York City area where a single mans income of 97k a year is barely enough for a single family property in the five boroughs. I want a multi family that I can use the BRRR strategy on.

Are you willing to move? Akron, OH has single families for $40K cash. Rhode Island has triplexes for $225K.

Even less than that. Recently I put an offer in on a property for $12,5, assuming $8k of repairs required.

0 Votes

Not sure that you would need to move it. I live in Maryland, opened an LLC in Ohio, & am buying property in Florida. After verifying with my real-estate attorney, he said that I just need to have an Ohio resident to be the Statutory Agent to accept tax notices, legal papers, etc.

0 Votes

All Forum Posts by: Jason Goretzki

Jason Goretzki has started 1 posts and replied 199 times.

Post: What kind of Rental Properties did you start with?

Post: Terrible PM and contractors-cautions out of state investors

Post: Putting rental property under an LLC

Post: DMV - Looking to connect with Local Investors/Agents

Post: Recommend a vacation rental realtor in the Miami Beach area

Post: Financing your Airbnb

Post: Hello From Silver Spring, MD

Post: Tenant doing some work on a rental

Post: So what's holding you back?

Post: I'm moving out-of-state... do I need to move my LLC as well?