All Forum Posts by: Mike Ko

Kalvin,

Welcome to bigger pockets.

I have family in Guam and have visited recently.

Your numbers for this newly constructed house will likely not cash flow well.  Besides mortgage/escrow you need at least insurance and taxes. Most importantly you are not familiar with property management on the island.

What is your exit plan for this house?

Joe,

Congrats on your journey so far.  There is some much to learn that is never taught in college, medical school, nor residency.

@Phillip Davis

I am meeting with local banks for non recourse loans.  Have you any luck with your business line of credit?

Liz,

I own one STR in navarre beach, and multiple in gulf breeze and pensacola. There are a few condos without a HOA fee but regulations in place. I may be able to give you insight into STR in the navarre area.

Hi Breelon,

I have lived in mississippi for 18 years. I am looking into the Jackson market. 

@Susan Maneck I am curious if you have looked into STR. I own multiple STR in Florida.

Mike

I want my LLC to get business credit. I am contacting local banks to provide a portfolio loan on my rentals with a non recourse loan. Does anyone have any recommendations or opinions?

Mike

A realtor found an off market house for me by door knocking.  I bought it for $85K.  Paid the realtor (not his broker)$9000.

Jessica,

As an investor, you should not worry about offending an owner. I was pleasantly surprised last year when an MLS property in gulf breeze took my all cash offer.

Last year, I sold my large house in suwanee, georgia.  I was not offended by the cash low ball offers.

Good luck.

I own a few homes in pensacola.

Mike

 Rate of return = ability to self manage.  

All property managers will not do as well as owners.

 Pump your brakes.

Not all beachfront STR are cash cows. In fact acquistion cost are too high to cash flow properly. These are hoping for appreciation.

mk