All Forum Posts by: Laura LaFrenier

I've done that already. I also looked things up on VRBO. I was hoping for some direct experience/insights to the market. 

Anyone have any information about the short-term rental market in the U.P. of Michigan? I am interested in buying a lake home around Marquette area and was hoping to rent it out when I am not using it. Just wondering how competitive it is and how often I could expect to have it rented. It would only be 2 bedrooms, 1 bath, and sleep about 4-6 people. Thanks!

Thanks for the info! I will probably keep it in my name until I refinance it then.

Hello everyone. I'm sure this question has been asked before, so I apologize. I just purchased my first rental property on Dec. 29th. In order to do this, I took out a HELOC on my primary residence. My plan is to apply the BRRRR strategy and re-fi the rental property in 6 months after repairs are done and a tenant is secured. Here's my question: should I transfer the title of the property to my LLC? I purchased an LLC a few months ago but the title for the rental is currently in my and my husband's name basically because I wasn't sure if it was necessary or what I should be doing (haha, as I said, I'm a first-time investor). Would it make sense to just leave in our names and not the LLC? Would there be any consequences during the re-finance process if it is under the LLC and not our names? Thanks!

I am just starting out and I have two options for getting cash out of my primary residence in order two invest - HELOC or mortgage. I have a current equity line of $50k on the house with no other mortgage. The house was appraised at $165k. I want to get hour $50 more, which would give me either a $100k mortgage or HELOC. The current payment is $200/mo for the HELOC of $50k so I am assuming the payment would be around $400 for $100k. The mortgage (30 year) would be a payment of around $490/month. I am looking to purchase a small rental property with the $50k and then re-finance the rental to re-invest in another property. What should I do? HELOC or mortgage?