All Forum Posts by: Pam Ryan

Curious about how profitable it has been? Seasonal? Restrictions to enter market?

Should I file a police report if my tenant was injured from a fall after being reckless?

I'm just listening to BP podcast 402 (and loving it) and its really providing clarity for my strategy, both short and long term.  I don't need the cash in the moment, so I don't need to sell anything in the moment.  I am looking for multiplex in a cash positive market and narrowed it down to Pittsburgh and central Florida.  I want to keep the properties I own to have a diverse portfolio for both short/long term cash and equity.  Thanks for the feedback!  

I am very interested in this market as well, particularly a multiplex in NE. 

Please add me as well 

We are newly empty nesters supporting one child still in college and looking for options to buy our next investment home to rent, short or long term. We live in so cal and want to be close to our kids. We have currently 3 properties:

our primary single family home, almost paid off with abut $750k in equity; plus $185k heloc with $115 to spend;

a $1.3M vacation home in Hawaii that we've been fortunate to have a 6 mo long term rent during covid, $100-200k equity, and a great track record for airbnb (when it comes back);

a great one BD condo (with huge HOA fees) in urban downtown area with water views with long term renter that we are just breaking even mo to mo and about $125-150k in equity; $500k value, $200k mortgage still due

We want to buy more properties to rent both short and long term depending on markets.  We are open to many markets but leaning towards so cal, Palm Springs, Florida (to establish residency to ease ca tax pain).

Question is, should we try to sell the primary home or condo to reap the cash and buy more units/homes faster?  We have $100k to invest without it, plus the $115k heloc but concerned about the payments.  We want to buy further south with a view.  

Any suggestions would be appreciated!  

@mike 

@Mike V. I do the same (self manage/so cal) and am always looking at the opportunity to trade up with a goal of buying single family, view, pool w/ohana.  Love to trade notes on island sometime.  Are you active in PKA AOAO at all?  

@Mike V. my goal is to trade up to a single family ocean view with pool and ohana over the next few years, using my rental income and equity to get myself there...so far so good!  are you managing your units on your own (as I am) or through property manager?  Are you active in Poipu Kai Resort?  

I own on Kauai's south shore and my short term rentals has provided positive cash flow. I just sold my unit for a huge profit after 6 years, $200k escrow. I sold it with positive cash flow in the 6 months upcoming, which was crazy, but I needed the cash for another deal. In hindsight I should have kept it. Bigger Pockets is showing me the light. It was fee simple. However, beware of HOA/AOAO fees, often steep and climbing. I didn't want to continue to sink my money into those costs.