All Forum Posts by: Bernie D.

@Diane Sib - Do you have any info/links you can provide regarding Section 8 Funding for buy and rehab to rent Section 8? 

Need some advice. In the last 18 months, I've purchased 7 Properties and sold 7 Properties. This year, I believe I can scale it even further and double those numbers. I don't know what you would call it, but I guess I would be a wholesaler, as I buy very low and sell very low but still make a nice profit. I'm concerned, because, most of the properties I do not hold for 1 year (Capital Gains)? This business's entire expenses come from profit made from properties sold. I have one employee or independent contractor and may hire a second. I've been doing everything as a sole proprietor. Should I set up an LLC or INC? Which one/option will give me the greatest ability to reduce my tax liability? Thoughts? I appreciate any help you could provide.

Thanks Steve, I've done that.  I've used Google Maps.  I've done the Street View.  I've used Bing Maps and did the "Birds Eye View".  I've used the GIS.  I get all of that.  I've also physically driven to the property and viewed it from the street.  I see the structure on Google Maps and I stood in front of it and saw the house number listed on the home.  

My question is simply why would the Tax Records and GIS Map only list the Street Name and NOT the physical house number.  Why would zillow not have any information at all on this particular property?  When you google any address, you usually find a hundred different websites that pop up information.  For this one..... nothing.  literally.... nothing.

Sorry, I forgot to mention.... the county tax records only show Street Name and Parcel Number. GIS Maps Show the actual property attached to the Parcel Number including Property Outline, Building Structure Sq Feet, Assessed Land Value, Assessed Building Value, etc.... but still no STREET Address...just the parcel number.  I drove by and the structure is definitely still there and looks to be in fairly decent cosmetic condition (exterior).  Is this odd?  How do I find records of previous sales transactions regarding this property?  Zillow doesn't recognize it either.  

I'm new at this.  I'm interested in bidding on a property currently listing in a tax sale, however, it only shows the parcel number and street name.  There is no street number attached to the tax documents.  When I try to search the past history (using the county's tax and recorders online record database) I can't find anything about the home (other than the last owner's name).  The home was built in 1900.  Any thoughts?  What else can I do to research?

So... I take it there are no other VA products similar to the Vendee Loan for non-veterans looking to purchase VA Foreclosures?

Anyone?

There's a crazy auction on ebay right now about a piece of residential property that is for sale near Liberty Mountain Ski & Golf Resort in Fairfield, PA.  I like the idea of it, because it's only 1.5 Hours to Washington D.C. etc and would love to build either a cabin, or something low maintenance like a Tiny House to rent out and/or enjoy for myself.  Looks like a great deal.... What do you think?

$1 Land Auction - Ends Tonight

Just wanted to THANK Everyone for their responses.   If anyone has any feedback/experience using Global or Villa Direct management companies, I'd love some insight.  

I've learned Short Term rentals are tricky, have higher maintenance, management, and advertising costs....not to mention HOA, Taxes, Utilities, etc. I can easily see these as threats that could easily nickel and dime the P&L into the red. On the other hand, it would be a dream to have one of these pay for themselves.

I'll continue my research!  Thanks Again for your assistance.  Being new to BP, I appreciate the warm welcome and eagerness to help!

Lesley,

Thanks for the feedback and response. I'm currently researching Windsor Hills Resorts.... it's a gated community with resort type amenities that is only a few miles for the Walt Disney World area. The entire community is zoned for STR. The management companies that I've listed only service a few communities and provide all of the legal paperwork, bookings, house cleanings, pool maintenance, etc. They pay all of your utilities and send you one statement each month. Yes, their fees are high (15 - 30%) but they also take care of just about everything.

It scares me, because there are so many properties for sale and when researching price history, the market has been so volatile and hasn't recovered entirely.  I believe in time, the market will go back up and I could earn on increase property value over time, but I'd also like for the Short Term Rental to come close to covering the annual operating costs (mortgage/management).  Am I asking for too much?  ;)