All Forum Posts by: Kenneth Rolfe

Couldn’t agree more, you need to run the numbers. Assuming you’ve done that, and it’s still a good deal, I would recommend you find a translator to help you with the communication barrier. Ideally one versed in real estate lingo. Once you find one, revisit the seller financing idea because it sounds like you could make that happen if you can get past the gap in communication.

Lisa thanks for the info, I sent back and still couldn’t see it. Maybe because I’m looking on the mobile app? Either way, thanks for sharing! I’ll unfortunately be out of town this week, but I hope to be able to catch the July meeting. Thanks again and hopefully we’ll be able to meet soon.

@lisakohl this sounds great, I would definitely be interested. When and where is the next meeting?

I think STR should be left up to the home owner, but should have proper regulation. Here in Boise they are now regulated and taxed like a hotel, which I think makes sense. I think the point brought up about zoning is an interesting one and can see it from both perspectives. Plenty of people work or run a business from their homes, but I wouldn’t see it in the same light as a property zoned commercial. It’s regulated and individuals even receive some tax benefits. I get that with STRs it brings other people into your business, but on a way smaller scale than a hotel and probably similar to how some businesses would operate out of their home.

In the scenario you outlined the value doesn’t come from the cash flow, at least not initially. The value would be in the amount of money out of pocket you would need to purchase the property. Owner occupied properties require a much smaller down payment than investment properties. House hacking is a great way to get into REI if you don’t have cash to get started.

You could see if the owner is interested in carrying part or even all of your loan. This would potentially get them more than they’re currently asking for, just spread out over time in the form of cash flow. Help them to see that they could get a better return on this money than just sticking it in the bank and since your families go way back there is a higher level of trust than just lending to someone they’ve never met. Good Luck!