All Forum Posts by: Lorenzo Ferdinands

JUST gone under contract at 172 River Terrace Drive, Talladega, AL. Its 2 units waterfront with a steep gradient to the lake. You can see the listing as for sale on zillow. Unit 1 is 2bed (+ bunk room) 2bath (fully furnished), unit 2 is 2 bed 1 bath (partially furnished). move in ready. I'm in at 342,000... 25% down, at 6.5% (I have great credit but foreigners just pay higher) any experts in the area know if this is a deal, or a lemon? Opinions welcome.  Comps of similar house and land size and number of rooms in the last 12 months are above 500k, but most of them have flat lots and aren't modular homes (this one is) 

mortgage - 1621

Taxes - under 500 (for now)

insurance - under 2000

Cash down - 85.5k plus about 20k closing costs and furnishing

added context, I am an out of country investor. Goal is to occupy it one to two months a year and VRBO/Airbnb it the rest of the time.

@Jay Leisten, I am hoping to invest in Louisville property for short term rental in the next 12-18 months. Would love to connect with you here for when the time is right!

Any tips on what/where/numbers I should look at for short term rental properties. I want to target the masses that attend your convention center and I hope to buy just before or after its renovation is completed.

Hi @Pavel Reyes Valdes, do you manage any short term rentals?

Any insights into that in the Louisville market?

@Mitch Messer, I accidentally double posted earlier but I am in singapore looking to invest in short term rental in Louisville. Any tips advice or connections?

@RJ Harden, yeah check with banks in HK if they would finance the deal. I have a bank here in SG that is willing to finance. But I must own the property under personal name and not an LLC or other Corp structure

Hey guys,

I am a Singaporean looking to buy US property for short term rental in the next 6-18 months.

I intend to move to the US in 5 years and would like to own 2-5 short term rentals by then.

My local bank here is willing to lend me 150K minimum on such a property but it must be in my own name and not under an LLC. <2% interest over 25 years.

Would you do it or would you look for alternate financing and go with an LLC?

Truly appreciate the insight!

@Juan Duque @Erin Legler thank you for drawing my attention to Orlando.

I just did some preliminary looks and it does seem an interesting market. 

Juan, when you say zoned for short term rentals do you mean that specific laws exist to allow for short term rentals? (As opposed to just a lack of laws that would ban or make short term rentals unattractive to investors)

Erin, if I end up looking at Orlando, those contacts would be great. I noticed lots of condos very close to the theme parks. They seem to have pretty exorbitant HOA fees but what are the pros and cons on condos vs SFRs or MFRs? Condos also seem to make up a pretty large chunk of listings on airbnb so is this something that the condo HOAs have no problem with (generally speaking)?

@Malgorzata Sadowska would love to connect. Let me figure out how to do that on BP.

I am sure others in my shoes would love your advice and insights though so maybe you could share on the public forum too?

Thanks in advance

@Blair Russell, that's awesome man. We gotta connect. Hang out the next time you are in singapore. Great advice too. That's the route I am thinking of taking. A private individual who can do the cleaning and set up etc... to a certain standard but of course this needs a degree of vetting. I do have some connections through another business which may be able to help with this.

I assume you do your own marketing and responding to requests etc... or does this private individual handle all of that too. I am not sure if property management is worth what they charge in these situations or if there are better alternatives that would cost the same or less and give my short term rentals more attention.