All Forum Posts by: Nancy Bachety

Well then, you found the answer to support your decision. I wonder what would happen if you put in an offer using $45k -$50k as the income. Did the sellers buy high, did they renovate or update, are they in too much and would they be willing to sell at a loss? 

Maybe, maybe not. It doesn’t seem low at $300 for a sleep 6 or a sleep 9. Now that you turned it down, what was the asking price?

The adr is down this year but your agent is still right about the projections. The other investor doesn’t self manage besides, even in this different market, if your purchase price works with the $80k projections, you’ll have your answer. If that includes paying a pm you’ll get a different answer. Check Airdna. 

That sounds right and we’ve had similar numbers. We’ve owned a 2 br 2 ba cabin in Shagbark since 2018 and is not “too far” at all. The cabins are not crowded next to each other and it’s under a five mile drive on scenic roads to PG. Close and secluded. Marketed right, and depending on the price, that will return well.

Interesting. What is your affiliation?

What @Collin Hays said. And your area, if you live in Nyack, is a great starting point. Close proximity to NYC, the nearby state park, and a destination by itself for certain people. If not, stop looking for up and coming, look for tried and true. The key is making sure the numbers work no matter where. 

You have such a strong following, they are all out of stock! Thanks Mike, love your finds. Keep ‘em coming. 

Can’t stress enough that you MIGHT now more than your CPA. You’re in the trenches, you read this forum, you network, you ought to know. 

You are on the right track. You can choose either type of IRA. With one, the traditional IRA, you'll get a tax break upfront and pay your taxes on the accumulated investment when you are retirement age. With the other, Roth IRA, you'll get no upfront tax break but you'll pay no taxes on all the accumulated investment plus you can take out your contributions at any age, after five years from date of opening it.
On a higher level, your IRAs can own houses just like they can own traditional mutual funds. 

I like to think we’re all learned host owners. I like the way it sounds.