All Forum Posts by: Mike Szabo

All you number crunchers! I need help deciding the best option for a cash out refi I am doing. I know theres a lot of mixed feelings on rate buy downs. If you need more info message me please. The extra capital taken out from a 75%ltv would be used as capital for future investments.

75% ltv

$211,500 cash out

3.875%

$5,816 buy down

$995 p&i

75%

$211,500

4.375%

$2,379 buy down

$1,056 p&i

75%

$211,500

4.875%

ZERO buy down

$1,119 p&i

70%

$197,400

3.5% (new floor)

$5,429 buy down

$886 p&i

70%

$197,400

3.75%

$3,455 buy down

$914 p&i

70%

$197,400

4.25%

ZERO

$971 p&i

@Katharine Gonzalez All those areas are great for their own reasons and most are within 20 minutes of city life with the exception of Boone( 1hr 40min), Lake Lure(45 min) and Marion( 45 min). The question I would ask is what is most important to you in this area? l live in Fletcher ( 20 minutes south of downtown Asheville) and I love it. It is centrally located to everything outdoors but still close enough to enjoy all the downtown attractions. I also have two vacation rentals in Lake Lure so I am partial to that area as well. Please let me know if I can help in any way.

@Jennifer Lombardo I have 3 short term rentals in the Asheville/ Lake Lure/ Chimney Rock area and have learned a lot over the years. I would love to help in any way i can.

@Amy Zemser We have been using Myvr for a couple years and like it quite a bit. We use it for channel integration, website, automation and payment processing and all have worked well.

@Nolan Yamada i also use Proper Insurance. I spend $1,800 for my 1bd/1 bth and $2,200 for my 2/2.

@Erik Stenbakken i also would suggest hostfully. Easy to update, user friendly and you can print out the hard copy for inside your rental.

Hello all,

I need some advice on an LLC for an Airbnb at our primary residence. My wife and I have two other Airbnbs that we have always kept in an LLC( one llc for each). However, i know that since this third one is located at our primary residence, it changes things. It is a apartment located above a detached garage. My question is, should we still operate the business of the Airbnb in an LLC even though the property cannot be put in one? Should we just get a big insurance policy? Any other options? Any help is greatly appreciated. Thank you.

@Cody Clinton Thank you for your reply. That is a great way to look this. We have been more on the conservative side and just hoping to pay off the house and then have more cash flow. However, while we are still young, it may be better to build our portfolio.

@Taylor L. Thank you for your input. We have been really fortunate with great tenants and i am sure it would be a different story with bad ones. I think we may renew this years lease and in the meantime look at areas up here to invest in. We would still be in the capital gains exemption window.

My wife and I moved up to North Carolina from Florida about 1 year ago. When we moved we decided to rent the house we were living in for the past 9 years. We have had it rented for a year now with no issues but I keep debating whether it would be smarter to sell and reinvest the equity elsewhere. We manage ourselves from NC. Here’s some of the numbers: Value- $285,000 Mortgage balance- $100,000 Interest rate -2.875% on a 15yr note Monthly payment - $1,750 w/ taxes and ins Hoa- $97 per month Lawn- $80 per month Monthly rent- $2150 It technically doesn’t have great cash flow, however it pays down the principal around $10k per year because of the 15 yr mortgage. Another factor in all of this is that if we sell before our capital gains benefit runs out, we would not have to mess with a 1031 exchange. I know there are multiple ways to look at this situation but I’d like some input please.