All Forum Posts by: Michelle Verdugo

I own two rental properties that are condos in big cities. I moved to New Mexico and see there is a lot of cheap land in southern Colorado, NM, TX and AZ. I’m considering creating an RV park for short to medium term rentals. I’ll have to build a road, septic and electric. I’m looking for any insight from the BP community around permits, zoning etc and any info, stories of experiences with similar investments or any thoughtful comments. Thank you! 🏕️🚐🏔️🌳🌲

Hello. I just listed a home I own in Colorado and got a text from someone stating they are with the NLPC and that they offer above asking and he would like to email me info. I'm a skeptic and have never heard of this. Anyone heard of them? thanks!

I don't quite understand a cash out refi. Doesn't that make your mortgage larger and then you're taking on more debt? @Jhanel Wilson - Can you share how you do it all the time? I've been dying to buy an investment property but my income is too low to qualify. I have a really high credit score, no debt except one mortgage, decent savings for a downpayment. I've owned my Brooklyn apartment for 10 years and the value has increased by about %25, possibly more. 

Great advice - thank you all!

@Alex Bekeza thank you for the info Alex!

I'm curious about the refinance part of a BRRR. What does a banker look at when you go to refinance? What if someone has a high credit score, no debt, lots of savings yet their W-2 income is pretty low? Asking for a friend.🤓

Never? Apple just announced their first east coast campus to be built in that area. Might be a good time to jump in before property values go even more bananas. 

I've been studying REI to death and at some point I'll have to pull the trigger and go from studying to taking action. I'm a bit shy and don't have tons of connections. I thought to myself, "I'll find a wholesaler." Thank goodness for this post - it's 10 years old and still getting traction! I'll have to find another way.

@Scott Wolf done!