All Forum Posts by: Matthew Swearingen

For the past year I have been looking for a place to buy as an income/airbnb to buy in Mexico and have inquired about Playa del Carmen and Tulum and keep coming back to Tulum as it seems like it has the potential for growth with airport coming and simply more infrastructure. I'm going to go there in March and Im thinking of just pulling about 150-175K equity out of my primary I have and paying cash. Any thoughts or is Tulum not the place? If so where is the next beach vacation/investment place at?

I live in Roseville and rent a room to travel nurses at $1500/month. Just to give an idea. I advertise on various platforms. The reason for this is that travel nurses go through a vetting process and all I do is ask for a copy of their travel contract. No need for me to do background, credit check, etc. 

Yes it's wealth building and cash flow. Not so much personal use of STR.

Makes sense. I’m a registered nurse. I have great job security. But I get your point. 

Where did you buy your beach front condo if you dont mind me asking?

Thanks for the insight. I just dont like debt and owing. It's a personal thing for me I guess. I know it's not necessarily wise to pay off a 30 year in 15 if I can leverage my money in a better way. I would like yo buy a property every year and have the financial means withing a price point of $450K and no more. I only have a mortgage and can save about 80k-100k/year. I live very simple...so it's doable. 

I guess part of the issue is finding the next up and coming area. I looked at the Chattanooga area a few years back and missed the boat by about a year. Everything was bought up. 

I live in Roseville CA and recently bought my first income property. I put 20% down and the rent covers the mortgage. I bought it for the long term equity appreciation. In the next couple of years I can probably make a couple hundred, but again my plan is to have home paid off in 15 years. At which point I'm estimating rents would be $3500-$4500/month. 

I was thinking of buying another in my area as the growth and increase in value is great for this area, but I was looking at a condo in St. Thomas VI. After cost of mortgage and HOA fees etc, it would not cash flow. I had looked about a year ago at Tulum but decided to hold off.

So where is the next place to invest in STR whether it be here in the states or abroad? I have 50K in savings. I make about 120K a year, credit is good, I only have my primary residence mortgage with about $300k equity. Realistically, I can set aside 5K per month. That's 60K/year. Am I looking at flips and if so what areas?

With interest rates up to almost 7% and putting 20% down it seems that the numbers dont work at this point.....or do they?

Any suggestions or insight would be helpful.

Matthew

How did you find renters. Property management involved to screen tenants?

Thank you for the info!!

I have not. What do you know about this alt coin