All Forum Posts by: JooYung Choi

I wouldn't sell. You locked in a good rate and works great as a rental when you move out. Keep it in your portfolio for now and do a return on equity calculation to determine whether to sell it or not later. 

Have you considered opening a HELOC to buy distressed properties to BRRRR?

Buying a massive STR utilizing a FHA loan would be pretty cool. Just have to figure out how to offset your mortgage for a year unless you're comfortable making those payments. If it's a big home, you could easily airbnb your spare rooms and get a feel for the market while honing your skills as a hospitality expert!

Lots of good ideas here. 

I always wondered if it would be a good idea to buy a primary in a vacation rental market. Using a low down payment to leverage into a massive STR if your DTI allows it.

You would just have to figure out a way to help pay the mortgage for that year. Probably by airbnbing your spare bedrooms.

What's your cash on cash return? Do the calculation for both options and see which one's more appealing to you.

Are you trying to do Short Term Rentals? Long Term Rentals? Flip?

Hiring a property management company? 

What kind of returns are you looking for? How much of your time can you spend on upkeeping your investment?

House hacking could work if you don't have a primary already.

Finding a good realtor will go long ways. Utilize their network and form your all star team. You only need to find 1 rockstar as they will refer you to the other rockstars in the game. 

I would say Sub2 or a DSCR lender.

Buy a home depot coupon on ebay.

that 20% off > whatever you paid for the coupon

Are you a big city or a suburb guy? House Hacking is a great way to test the real estate waters in a new location. Why not try a year in a new city every year?

Congrats on your purchase. What's your projected nightly rate and occupancy %?