All Forum Posts by: Mark S.

@Ekin Turesay Be very careful about who you take advice from and whether or not they can benefit from giving you that advice. If $100k is all the money you have and you can’t borrow right now, you are really putting yourself in a risky position, sinking it all into one low end investment, based on the little info you have provided.  Making money in real estate is not as easy as a lot of people would have you believe. It can be very profitable, but it can also carry a lot of risks. 

@Mergim Kacija i've been involved in some HOA situations in the past. Very difficult to find attorneys that will take on a case challenging an HOA, primarily because most states have no governing body with jurisdiction over them. From what attorneys have told me in several states, this sort of litigation could stretch on for years. I found there is more of an appetite from legal counsel to represent the HOA versus a disgruntled owner.

In addition, depending on how many owners there are, the general ownership might be more than willing to each throw some money in the kitty to deal with an owner they perceive as trying to get around the HOA bylaws. 

@Mergim Kacija You aren’t likely to get much support from the other owners, since it appears that you were trying to circumvent the cap on rentals. Full time residents are more likely to support the board than you.

@Bobby Paquette ‘There were bugs in the woods’ (not in the cabin, not on the deck but in the woods) 4 stars

@Joe Villeneuve There are a ton of people who’ve been saying, or at least, implying, that it’s easy to make money in real estate.  and that you’re foolish to waste your money on college, stock, investing, etc. Just buy real estate. 

@Nimisha Doongarwal The advice that some have given here to basically tell the tenant tough sh— is what gives landlords a bad reputation.

@Nathan Frost Putting the repairs on a credit card, ostensibly because you don’t have the cash to do them, is a terrible idea. Huge carrying cost and you will be stuck with an aweful financial skid you can’t sell for enough to repay everything quickly. Shouldn’t do deals that you can’t afford.

@Jason Riddle I’d be ok with a 40% increase myself, given what is going on in the market. My properties have seen anywhere from 40 to 90% increases. Insurance companies are losing money like crazy on property coverage so this is not likely to be the end of it.

@Harshal Hiray Talk with Matt Maloney, The Maloney Team, in Sevierville. I have worked with a number of agents in the area and believe he is the best. Honest, no BS or hype.

@Christopher Brown Delaware Statutory Trust. Lots of info online if you Google it.