All Forum Posts by: Patrick Moore

This post is exactly my situation now. I am really interested but as I am looking through bookings it seems very sparse and it scares me. This would be my first STR so I'm a little fearful. I was looking at 4 bedroom newer build stuff in the 800k range. Any advice on how any of our rentals have performed would be appreciated.

Lots of intersting ideas on this post.  Has anyone actually bought in the Blue Ridge Mountains.  I am seriously looking but as I look at listings it doesn't' seem like anyone is booking much in advance and it scares me.  I would love to talk to you - maybe even partner.  Thanks!

@Cole Britting great info.  I actually talked to a very knowledgeable broker yesterday and got some good insight.  Speaking in complete generalities the 2nd home option is around 4% with current rates and the investment loans are around 4.75.  Good numbers for analysis. 

I'm glad to see this thread - what is the difference in terms for the second home mortgage vs the standard 20% down investment loan?  Is the rates and amortization similar?

That was great info!  Thanks so much!  

Thanks Kenneth - did that but only found rates up to four bedrooms.  I did call and when I spoke to them on the phone I was told they don't have rates any higher than four bedrooms.  I know this isn't true but don't know where to go from there.  Any thoughts?

I am in the Chicagoland area as well. 

Thanks Michael.  I will call on Monday.  I found info on stuff less than 4 bedrooms but nothing for larger homes on the website.  

Thanks Jane - good to know.  

How do you find Section Rental Rates per bedroom in a given area - Is this easily accessibly information or an Industry Secret? Episode 356 really made me think!  

I have two larger rentals currently that have 5 bedrooms but have never thought to utilize section 8.  Made me think about adding more using that strategy but I don't have the first clue about Section 8.