All Forum Posts by: NaTarrio Jones

Thanks for your Reply. @Bruce Woodruff I was considering LTR bottom because the rent will pretty much cover the mortgage alone. A safer play considering its my first STR. I would disclose with the tenant my intention to have the upper unit a vacation rental. I have done some research on the market; its a local tourist destination; beaches, events throughout the year, etc.

Thanks for your response @John Underwood.  Galveston Island, TX attract many tourist.  From the beaches, to The Pleasure Pier, Rallies, & Festivals there is plenty enjoy in Galveston. 

Hello BP. I'm closing on my first STR next month. It's 25 minute drive away in Galveston, TX, what I believe you would refer to as a "drive to" market. This property I'm purchasing is Duplex with units up and down. Up is 2 Bed 2 Bath and Down is 3 Bed 2 Bath. I'm entertaining the idea of leasing the lower unit long term and placing the upper unit on AirBnB. Or placing both units on AirBnB to maximize cash flow. Do you have experience with small multi family vacation rental properties? What are some of the upsides and down sides? I would love to hear your thoughts. Thanks in Advance.

Congratulations @Yosef Lee Thanks for sharing your story.

Hi @Kane Griffin,

I'm a fellow investor from League City. The last 3 properties I've purchased have been REOs in this area. All requiring extensive rehabs. I was able to BRRR 2 and I'm currently undergoing the renovation on one I just purchased in June. Let's talk.

@Marvin Meng I use Buildium which allow me to accept payments online through the resident portal. They can pay by card or eft. It also has an option to set up “pay near me” retail cash payments at participating locations.

@Cian Hamill

I recently purchase a SFH in an LLC and experienced a similar situation. After speaking with my lender I transferred title to my personal name before I beginning a cash out refinance.

 Thanks.  Yes I do have before and afters.  I will upload some later.

Yes although it varies from lender to lender commercial rates are generally higher and have a shorter amortization schedule with a balloon payment in a 3-7 years.

Thanks. I find that Redfin are usually first to alert of a property status update; even quicker than the local MLS.

Thanks @Whitney Breedlove and @Edy Lagares.

I was looking at a commercial loan with an interest rate of 6.5% with the LLC rather than a conventional 30 year with 4-5%.