All Forum Posts by: Jose Garcia

@Ken Latchers how is the renta market in Elizabethton, TN? Is this a town where you would continue investing if something for the right price came by?

@Wendy Schultz happy new year. My wife and I are thinking about investing in the Margaritaville Resort Orlando. I am hoping to use the property once or every other month since we live about 70 miles southeast of Orlando. However, I am planning to treat it as an investment property with Cashflow in mind. Could you share your experience as an owner and investor? How has it been dealing with the approved property management? Would you do this deal again knowing what you know now? Thanks so you so much! Look forward to hearing from you.

I am looking for advice.

Last December I bought a second home looking for more space for my family. I was able to rent our previous home for $2050/month and It leaves me with $650 after all expenses. Because I just recently bought my second home (December) and have been working on home projects on the new house, I am currently low on cash (~$5000). However, I do have available a 50K HELOC on my first property. I am planning on using the HELOC to buy another investment property and I already have a property in mind. However, my wife is kind of nervous about using our HELOC since we are a little bit short on cash and we have plenty of other projects we still need to get done at home.

However, interest rates are low and I am looking to buy a property for about $100K that I can renovate and rent right away. My question is, how do you know that you are ready to buy the next property? What's the level of margin that you use per property in case of emergencies. I am planning to pay off my HELOC slowly with the cash flow of my first property and the new property but it will take me a while to pay that off. Thank you so much!