All Forum Posts by: Josh Williams

I certainly appreciate the input from everyone. I'm actually on the consumer side of VRBO at the moment and certainly appreciate the quality of folks that use it to promote their VR. The lady I am speaking with now has a place in Topanga Canyon. I've been picking her brain as well.

@Account Closed From my personal use of VRBO I've only paid through their site and corresponded with the owners of the property. There wasn't a rental agreement, so when would one be necessary? Maintenance, cleaning, and inspection would be done by us. We live close by on the flats of Apple Valley and are handy. We have actually treated the place as rental already amongst the family members that visit. 

Thank you again everyone!

So my father-in-law purchased a cabin in Big Bear, CA. Felt like it was a waste and wanted to sell. I found a site ,VRBO, while searching for an anniversary get-away. The system seems like a no brainer for a REI strategy. Any views and opinions on what to watch out for? Strategies?

BUAHAHAHA

Bought it at 108K paid down to 101K. Refi 90% cash-out 135K, values at 150K and climbing. 3.5 years since remodeled.

I was able to repost this in a few different threads. And finally got some good feedback along with reading Ben Leybovich's post on using rules for your investment analysis. Looks like a good deal, so we will run with it and if all else fails we have an exit strategy. It's not a daring move and it's simple, just the way I like it for being new to REI. Thanks for the feedback!

Thanks Ned I appreciate everyones input and will certainly push forward. If it fails we'll just go back to the drawing board.

 Is that good?

 I did get some clarity on my original question. But just crunching numbers to better understand this first deal is my biggest struggle.

Refi loan amount 135K appraises 150K. Rent $1100, $770 mortgage (insur&tax wrapped into that payment)

 Thanks for the response. Ill be getting a $29.9K and within 6 months moving into a primary.

 Still trying to get the hang of tagging and replying on here. I think what I responded to James Wise with would better explain what I meant in my first post. Keep in mind, I'm a first time noob. Lowest level of knowledge, highest level of excited.