All Forum Posts by: Robert R.

is he also financing the other properties?

I love it!

Congratulations on finding this service. 

In big cities I would make sure to know the local laws regarding this. It has been in the news a lot lately. 

I hope this works well for you. 

We own 3 vacation rentals and now live off the income from them. When we had w2 income we financed one of them with a bank. The other 2 have no loans and a bank will not lend on them now. We laugh about as we have more income than 75% of the people who live in our town. 

We own 3 vacation rentals and purchased them all furnished. It is still not perfect and you will replace and tweak as you go still. 

Usually when purchasing a vacation rental it is already on rental so it should be furnished as well. 

I would contact my attorney. This is sub leasing and if in your rental agreement you can have them removed. 

I have cashed in part of my 401k and invested in property. Even paid the penalties, tax, etc. and would do it again in a heartbeat. 

The income received from my real estate investment the rest of my life I have control of. Who knows what may happen to the stock market? That's what retirement money is for. Income the rest of your life. 

Not for everybody but this is my 2 cents. 

We have used a product called clobberizer. Chlorine dioxide. 

Put the packet in a cup of water and leave for 8 hours. When you return open all windows. 

3 years ago we purchased our first rental cabin. It had been closed up for a year! We put 1 of these in each room. It did the trick. No more musty stink. I guess many people use it for cars but it works. 

Banks are a pain. We purchased our home all cash last year. Also purchased 2 rentals which we make a ton off of. Even with our 790 and 780 banks won't lend to us. They insist on the magical w2. We make more money than most people in town do with a w2 but the banks don't care. 

If they won't lend to you now, how do you know they will a year from now?

Good luck with your decision. Neither is the wrong one. 

 Our pest control is more pro active than reactive. There are so many species of beetles here in the Smoky Mountains as well as a plethora of other bugs. Deep woods off is our best friend in the summer when hiking here. 

 The black bears love to get into the garbage but the bear proof container takes care of that, usually. There would be nothing worse than a guest posting a review including bugs as I am sure you are well aware.