All Forum Posts by: Paul Aguilar

 Joshua, 

Would you mind sharing that spreadsheet to analysis STR? That would be most helpful.

 Erik, 

But doesn't the payment start on the HELOC once you pull money from the LOC? and depending on how much you pull, how is the monthly payment calculated?

The STR would be a full investment.

 Lindsay,

The HELOC would be on our primary residence, not a non owner occupied. But I like the idea of working on more than STR at a time, if I wanted too. Thanks for your insight on this!

 Thank you for the insight!

Hello, 

My wife and I are looking to get into our first STR. We own a condo and have equity in the property. We want to use some of that for a down payment on a STR. We have discussed either doing a REFI and pulling some cash out and yes, get a higher rate OR get a HELOC and use the LOC as needed.

Does anyone have any insight they can share on which would be better to use? I like the notion of having cash from a REFI in the bank and although we would get a higher rate, if we stick to a new MTG amount we can pay, I'm good with it. My wife likes the HELOC idea since we can pull money as we need and not touch the rate on the current loan. Both can work and have pros' and cons'.

Any info or advice would be greatly appreciated BP fam. 

Thanks!

Looking for any contacts of contractors in the Santa Paula area and/or Ventura County. Looking to remodel mobile homes to flip, so any experience in that field would be great. 

@Marco Pretelin

Great to have you on here! I’m a realtor in Simi Valley if you ever need anything, just let me know. I’d be happy to help you on your journey.

Side question, have your remodeled or renovated homes in the past? Are you a licensed general contractor?

@Darren Tsai yeah, 10-12% is good but I would even consider some properties as low as 8-9%, if it's a good one. 

@Darren Tsai I agree with @Jaysen Medhurst, you might want to pass on this, unless you're putting more money down, which will lower your PITI and give you more cash flow.

Rates are higher than that right now and even tho you’re getting a decent cash flow per month, the cash on cash return is really low.

@Justin R.

Great investments. I live in Simi Valley (bought a condo last year, that we currently live in) and my wife and I are looking to buy our first property by years end. I’m thinking OOS but she wants something within a reasonable driving distance (4-5 hours). So we’re doing research on a few areas. Really need to hone in on one. Would love to connect some time.

@Shani Levi

Welcome to BP! I got hooked on this site and all the books and podcasts last year. I have yet to buy a rental but I’m learning and learning and researching and researching. Get your ducks in a row and soak up as much as you can. When that wave comes in, be ready to paddle! That’s what I’m doing. Best of luck!!