All Forum Posts by: Rosston Smith

Great comments and advice from everyone! 
@Sarah Kensinger do you have any recommendations for some good mentors in this area? I would gladly pay a legit mentor to help me fast track the process of finding properties to do this with. Thanks again.

@Rosston Smith

No, you are not required to have a professional management company. You can manage it yourself, however, a property management company will significantly reduce your time spent managing the property AND mitigate your risk for you. Having a proper lease, qualifying tenants, managing maintenance and repairs, and unforeseen issues are time-consuming. 

How much free time do you have & How valuable is your time are questions that you need to answer for yourself when determining to hire a property manager. 

I currently have around 200k in cash that is yielding 5 percent in my brokerage account. I'm thinking of using that same money to potentially buy a rental property that could yield more and appreciate in value over the years. I figure it could be a decent time to buy soon while it seems to be somewhat of a buyers market given high rates as I could be cash buyer. I am however, a total newbie when it comes to real estate investing and it would be my first rental. That having been said, I want to avoid any rookie mistakes. I'm in Atlanta, GA which gives me fewer options with that budget unless I go with condos with HOA's that allow rentals, or venture out to towns outside of Atlanta like Macon, GA, Athens, Lagrange etc... That having been said, are there any tips from experienced investors in Georgia with suggestions of where I should be looking to buy? I even get tempted out of state in places like Alabama, South Carolina because real estate is so much cheaper there but continue to hear its best to have a rental around 45 min away or so.. Any tips/insight much appreciated! Thanks so much!

Hey all,

I'm currently looking to buy short-term rental in the next few weeks/months. I'm a high income W2 earner and I don't have much time to manage properties. I'd like to invest in a short-term rental before the end of the year for tax purposes. 

What I do have is capital to invest and can help analyze locations and finances. Are there any folks who are willing to partner up?

@Rosston Smith I am with @Vinnie Da silva go with a HELOC. But for what ever he buys it doesn't matter but HELOC are a bit more simple. However at that age would he be better off selling and just renting so that he has no maintenance to worry about? Or would selling leave him with too little to continue the life style?