All Forum Posts by: Mike Szabo

@Mike Dymski

@Myles Cardenas To keep unit fIlled in off months, pricing is key. We use dynamic pricing. Lower your average nightly but increase slightly on weekends. Managing from out of state is not that difficult. My wife and i manage 2 vacation rentals in NC from Florida. The key is getting systems in place. We set up our lock, lights and thermostat all to be controlled via Wifi. We also have an incredible house keeper and handyman( this is most important).

Does anyone know of a good contractor in Brevard, NC or Pickens,SC?

I will have noi a little later. Im still trying to figure out rent for the warehouse. The warehouse has a bathroom and possible office area so there are many possiblities. It is also located near downtown so its close to everything. I reached out to a commercial broker to get idea of rent rates. There is no deferred maintenance. Both units are ready to go.

My wife and I are in the process of analyzing a unique deal. The numbers are looking pretty promising but we have a question regarding doing a cash out refi. The deal would be purchased with cash for around $180,000. Then once we get everything rented we would be getting a mortgage to get our money back so we can move on to the next deal. The deal is unique because it is a combination residential/ commercial deal. It consist of a single family home on the front of the property and a newer 1,000sqft warehouse on the back of the property. The warehouse has its own water meter, power and entrance from the street behind the home and they are separated by a fence. We will be renting out the spaces separately. The property is zoned residential/commercial. My question is when we go to get a mortgage, will a appraisal for a traditional mortgage give any credit for the warehouse or will it just consider the value of the house? The house by itself will not be valued at the $180,000 we are purchasing the property for. Would I need to think about a commercial loan or are there ways to make a mortgage work? Any advice is greatly appreciated.