All Forum Posts by: Joe Dvorak

Hi,

I'm looking for some creative ideas for our current situation. My partner's family owns an STR, free and clear, worth between 1.8-2 million in a popular vacation destination. The property is owned by her mother and her mother's 3 siblings. They have been long-distance self-managing but it seems like they haven't been able to fully optimize the rental income. The 3 siblings would like to sell the property and walk away but my partner and her sister would like to try to keep the STR in the family and take over ownership from their Aunts and Uncles. They don't have the funds to buy them out currently so we are trying to come up with some possible solutions.

What are some creative ways to go about this?

Cash-out refinance a large chunk but leave enough equity so the property stays profitable as an Airbnb? Then use Airbnb profits to pay off any remaining investments over a short-term period (3-5 years)

Take out a separate mortgage and buy the family out?

Use a private lender?

Am I missing something?

Thanks for the help!

Joe

Thanks! This is my first experience with a 1031 so wanted to make sure I was on the right track. 

Hi,

   I'm a real estate agent in Western Wyoming and I have a client interested in buying a property to be used as employee housing for their small business. They have an investment property they are looking to sell as well. Does anyone have experience or know of any resources about using a 1031 exchange to purchase employee housing for a small business? Any thoughts or ideas are appreciated!

Thanks!

I've recently converted my house hack from renting rooms long-term to an airbnb. I'm looking into business banking options. Does anyone have any online business banking services they recommend?

Thanks!

I just purchased my first property in August and I am currently doing a house hack. I live in in the Jackson Hole, Wy area and housing is very expensive and appreciating quickly. Is it worth pursuing my license to be my own agent in future to take advantage of the rising prices and use the commission in my favor to negotiate future properties?