All Forum Posts by: Rhonda Crockett

I just experienced this!!! Approved but Fannie Mae will not back because more than 50% units investment properties... I never knew about this..

Wow!  only 3 years in VR?  VeryNice...I just started....I purchased a condo last year in Myrtle.......did well over the summer......lowseason will be my concern....but I am really enjoying it!  I am a teacher and can retire in a few years and really would appreciate any Advice..Im thinking of purchasing another Condo in Myrtle...Are any of your properties out of state?

Thanks

Rhonda

Wow!  only 3 years in VR?  VeryNice...I just started....I purchased a condo last year in Myrtle.......did well over the summer......lowseason will be my concern....but I am really enjoying it!  I am a teacher and can retire in a few years and really would appreciate any Advice..Im thinking of purchasing another Condo in Myrtle...Are any of your properties out of state?

Thanks

Rhonda

Wow!  Thanks Avery!  I did not know that! I guess then I could really see if it would benefit me to purchase an investment property in the same area.......or a foreclosure....using 203K.....Just do not want to pull so much retirement cash out for downpayment unless this will benifit me and supplement my teachers pension in a few years...

Wow!  Thanks Chris!   I really appreciate this info....I will also inbox u.  This will be vacation rental and short term rental.  Did you mean "increase in taxes" due to it being an investment property?

Sounds like from reviewing the threads/post that if one expects a high cash flow--its not gonna happen..:()

Hi All!  and Thanks Chris for your information!  

I am new to BP! I purchased a condo in Myrtle last year as A second home. Im now thinking about purchasing a second one as an investment property since I have a 1st home in MD. The condo location is excellent and I was able to rent to friends/family all summer. Being new to This, I wondering if purchasing another which would be as an investment is beneficial(e.g., taxes, rental income, cash flow.....). Any advice /direction would be helpful. I am a teacher and enjoy investing and hope to be a able to supplement my teacher pension in retirement in 3 years.  

Thanks!!!