All Forum Posts by: Josh Wallin

How much should the condition of a property's landscaping play into your decision to LTR or STR? Property is in a good neighborhood and had $30k of remodel done after purchase. New roof, scraped popcorn ceiling, paint, texture, flooring, new appliances. Outside of the house needs landscaping and has some grading issues. How much would this play into your decision between the 2 options?

 I thought one was a line of credit you can draw from as you please for 10 years, and the other is a lump sum payment that you have to start paying interest on and making payments on immediately?

Is it a better option to use a HELOC or home equity loan to finance the down payment on your next property? What are the pros and cons of each?

Asking price $799,000. 214 Days on market. Original list price $925,000 in 7/2022. Owner purchased in 2020 for $538,000.  Listing agent says sellers are very motivated. Is $650,000 a good starting point for an offensive offer and try to get a counter to see how motivated they truly are? Where would you start? 

Should you keep security deposits, Capex funds, and anything other than operating funds in a money market account, high yield savings, etc? Obviously it depends on the products your financial institution offers, but do you have any advice on that front?

Can anyone offer advice on how/where to set up a dedicated REI bank account(s)? Should I ask about high yield savings accounts or just keep all REI cash flow in a separate checking account? Does each property need its own account? Are banks better than credit unions? We have 2 properties and have been using our personal account at the credit union that holds one of our mortgages to handle all transactions for REI and personal. Needless to say this isn't ideal. Any advice the BP community can offer would be greatly appreciated! Thanks!