All Forum Posts by: Nandy B.

@Ryan S.

I have a full time job that pays me well

I have my residence, I live with my sister and she pays the bills and I pay the mortgage.

We manage a rental that we Airbnb... It's in a prime location by an NFL stadium. I make roughly 3-6k/month depending on the season. Mortgage and expense is roughy 2.5k

I m looking for another rental for Airbnb and someone approached me with this opportunity.

Single Family Home

$219,800 4 bd3 ba 1,315 sqft

zestimate 225000

Turn Key - Fully remodelled

Owner financing

$10000 down

10% interest

It will most likely be an STR which will work, but it will definitely not work for a long term rental.

It's less than 2miles from a major airport, and less than 10miles from sports and entertainment.

Is this worth it?

@Geordy Rostad

Do you mind if I ask how you analyze deals?

@Mike M.

ThankS

I just closed on my second rental. My initial choice was a multi family or small apartment with about 8 units. I didn't think it was possible in my area. I was strolling thru realtor today, and saw a 8 unit apartment complex less than 5 miles from my house and current rental. It has been on the market for over 400 days (there is something going on for sure)

I just closed on my second property so traditional financing is not an option.

I would like to reach out to the realtor to ask the seller for owner financing. I figure, worse thing he can say is no, thank u.

How should the conversation go? What should I say?

I m aware that this could be a stupid or unrealistic.....

Recently closed on my second property.

My hope has been to own a 8 unit. Didn't think it was possible in my area so I bought a house instead. But....I was strolling thru realtor.com and There is a property that s 8 unit in my desired area.

it's been on the market for 400 days. Yes, there is probably something going on and My funds are limited given the fact I just closed on my 2nd rental.

I know I can manage it well.

I was wondering if I should talk the realtor for a potential for owner financing?

If I do, what should I ask for?

Thank you all for your feedback

Managing the property myself is 100% off the table at this time.

I have to be honest and realistic with myself. I cannot do it, i do not have an ounce of time or energy given my current situation.

I ll be done with school next year (with a science degree the last year takes all of you). I will put both properties up for rent then, and i m open to the option then.

However, I do want to hear your advice, challenges you may have faced, things i should be prepared for, etc...

@Jonathan Watt

I agree, reputation is key. I plan on interviewing at least 4 and choosing the best one.

@Brian Adzadi

Thanks for your feedback

I close on my 2nd home and 1st rental in 2 days, anxiety (typical buyers' remorse) is settling in... now what?!.  4 weeks ago this was not on my mind and an opportunity presented itself, I seized it,  and now I have a 2nd house. 

I plan on getting a property manager. I have a demanding full-time job and I'm in grad school. 

What should i keep in mind as i go thru this journey?

• taxes - get a CPA?
• property manager - what do i look for?
• etc....

I do plan on joining the local REI club to begin building relationships and gaining more investing knowledge so I won't feel completely lost as I do right now.

Thanks