All Forum Posts by: John Robert Kinsella

@Will Fraser for my wife and I though, since she doesn't have any commercial loans through her name yet it would be totally seperate? 

The way I've understood it is the commercial side doesn't look at your debt to income ratio from the personal side. They look at income ti hemp justify the commercial purchase though?

I'm Trying to understand the full potential for llc and commercial loans..

I've been working with a commercial banker with my partner and it's been easy to secure properties with just having 20% down. I came across a property and started a new llc with my sister and purchased another.

My thoughts are to start a new llc with my wife for our own personal properties that are under our name, which will free up personal debt.

I then want to start another llc with my bro in law and buy more through that llc.

Does anyone see drawbacks? It seems by starting new llc I'm able to leverage other people's incomes as well and purchase more. Any drawbacks?

dang no one?

Curious what peoples thoughts are on a timeshare in Hawaii? I know standard time shares are not a good investment, I get a total of 10 weeks and its setup for Short term rentals.

We have been wanting to get into Hawaii and this could be a good start. Are initial plan was to buy a condo that we could future retire in, which this wont allow, unless I buy the other 4 individuals out... 

Whats everyone's thoughts on this? I have to look at the sellers historical income on this when its being rented... 

THOUGHTS?

This cabin is approx 8x16 and I would classify it more as of tiny cabin. I'm thinking I could have a loft above with a TV and closet. Downstairs have bathroom and a really small dining and kitchen area. Then just having a small little bathoom.

Very similar as a Tiny home.

I'm looking at purchasing a property that is in need of work. I'm able to purchase the property and believe the house itself will pay the bills and also have a couple hundred in cash flow.

It comes with a hand built cabin. Below is a picture of what is briefly looks like.

Has anyone had experience with such properties? I'm located in an area where its very touristy based on the outdoors. Property is located creeks, lakes, and just 1mile outside of good busy town. I'm having a hard time understanding if I could profit off Renting the house and Airbnb the cabin with a little work. Has no running water to the cabin, but I was just planning on running water lines to it underground and disconnecting the lines during the end of summer months( I live in cold climate). There is a loft above the cabin that's insulated. 

Hoping to be able to get 100 a night for the cabin, since I'm in a good area, quite and have hillsides behind it for privacy.  Problem I'm seeing though- you can rent condos in the area for 75 a night.... Lots of Airbnb's in the area, but this gives it a unique factor????? Anyone have experience with something like this?

anyone have input?

Good Morning all.. Fairly new as a signed up member. Have looked over the forums for couple years though.

Have done multiple flips and purchased first rental about 8 months ago. 

Before I start I wanted to give some background on the building/town.

I'm having a hard time understanding a small town near me. I'm in a large area that thrives off tourism and the area is booming with growth. I found an 11plex( 3 seperate buildings including one dupliex and then a 5 plex and 4 plex) that is 40minutes away and is listed for 200k, fully occupied in an area where housing can be hard to find. The problem with the town is it employees all the working people for the hotels/bars/restaurants and they commute to their jobs which is 5 minutes away. There is lots of high end houses going up around the area, but the city itself has lots of old buildings built in 1900 that are failing apart. The 11plex is considered the ghetto of the town, everyone has pets, smokes heavily, and seems to have a bad environment. Meth is also a growing concern for the area.

Utilities are all combined at the moment. 

Each tenant pays 500 a month and utilities paid by landlord. Currently grossing 5k a month, but the building does needed repairs. Old windows especially.  Tenants are good people and some have been there for multiple years.

My main thing is I believe this area will see growth in the future 10-20years, even though its been stagnant and declined 10% in the past 10 years. I'm having a hard time confirming to myself that it will grow.

Wanted to get everyones thoughts.. I'm waiting for the listing agent to get me the financials on the property to break it down even further.