All Forum Posts by: Ryan McDonald

Does anyone have or know of a great airbnb/STR/MTR acquisition and operating calculator that incorporates at least 3 debt instruments with different terms, interest rates, maturities? Example: Mortgage or DSCR Loan, Business Loan, Personal/Private Money Loan? Must be Excel or at least google sheets based and unlocked to manipulate data. Willing to pay $$ if it checks all the boxes. Thanks!

Does anyone have or know of a great airbnb/STR/MTR acquisition and operating calculator that incorporates at least 3 debt instruments with different terms, interest rates, maturities? Example: Mortgage or DSCR Loan, Business Loan, Personal/Private Money Loan? Must be Excel or at least google sheets based and unlocked to manipulate data. Willing to pay $$ if it checks all the boxes. Thanks!

@Bob Wilson where do you find your corporate housing tenants?

Long story short, I have $200k equity in a property that might be better utilized.

I purchased my first primary residence in Las Vegas in 2009 and lived there until I build a new townhome and moved out in fall of 2020. I've refinanced a few times and have a HELOC but still looking at $200k plus equity.

Estimated Value: $420,000 Exact floor plan sold at that price but I have new floors and appliances and better backyard.

Loans:

$149k @ 4.25%. 30 year fixed with 27 years left. Payment if $1,060 per month including taxes and insurance in escrow.

$50k HELOC @ 4.5%. Still in draw period with $10k available. Draw date ends 2028. Used to improve property. $300 current minimum payment.

I’m figuring I could net close to $200k after fees and commissions.

Here’s my dilemmas:

- it was my primary residence until 2020. Based on tax laws I have about 4 more years left of qualifying for the $250k primary residence profit tax exemption (lived there 2 of past 5 years). I have no interested in doing a 1041 exchange and no interest in paying taxes on $200k profiting 24% bracket. I could move back into the house though not ideal.

- I’m currently renting it as a higher end, monthly short term rental with 95% occupancy and netting $15k+ PROFIT on an annual rate. Had some higher start up/op expenses this year. It’s a great return on initial investment but there is opportunity costs now.

- Vegas real estate market is hot. I could list and get multiple offers quickly. I’m not surely this will last much longer which could make it harder to sell in future. Appreciation is 10%+ right now. I also don’t want to miss out on future gains.

-I’d like to use equity to purchase additional investment properties in Vegas and out of state or use a portion for another primary residence and turn townhome into traditional rental.

What would you do in this situation? I feel like I need to sell regardless in 4 years to avoid a tax bill on profits.

Potential options:

- cash out refi and use $100k for other investment. Let it ride as Airbnb and sell in 4 years.

- "sell" to LLC and get investment property loan, continue to operate as Airbnb. Clear debt from my personal books. Not sure if this allows me to take gains without tax liability.

- sell now and miss potential future appreciation

Any input is appreciated!

I own and manage a successful (Superhost) Airbnb rental in Las Vegas. I’ve had several people interested in partnering up/investing in the business. Has anyone had experience partnering with investors to buy properties for the purpose of Airbnb rental and what that structure looks like?

I foresee retaining the management side of the business and taking a standard percentage for services on each property. As for the property investment side, I’d like to have ownership in properties with a partner +financing so we both participate debt pay down and equity appreciation.

There would be majority investment of down payment from investor with some money from myself and hold the property in an LLC. There is also a sizable upfront investment in furniture and decor to launch the business. What's a fair payback/profit share agreement after management fee? Is it better to guarantee a flat rent (a premium to market) to the real estate entity? Is it better to just all share in the operating profits (or loss) of specific property? Is it a combo of fair market rent plus % of profits? Is there a preferred return for the majority investor or have profits distributed based on % investment so everyone feels like they are being made whole at the same rate? Or should I look for a structure that is a loan for down payment on property and give them a steady return and retain ownership?

Any thoughts or input is appreciated! I know I can make any property profitable. Just need outside money to acquire properties. Not interested in rental arbitrage. The long term growth strategy is equity/appreciation.

Thanks!

Hi BP Community,

Couple part question here and looking to the forums for help.

First - looking for a realtor (or someone with MLS access) in Las Vegas to pull a few quick reports for me on my current residence (based on MLS subdivision). I used to be able to do it years ago but they changed the MLS system. Exploring a few different options here.

Second - what are the requirements to access the GLVAR MLS system? Is it possible to get certified as a RE Agent just to gain access to the system - which I don't mind doing. Prefer to do my own research and like analyzing the data (specifically historical with certain parameters) instead of using zillow/redfin/realtor as a reliable source.

Appreciate any input/guidance!

Best,
Ryan

Hey All,

Newish to Bigger Pockets and excited to begin my Real Estate adventures.  I'm looking to start growing my real estate portfolio but want some advice/options on direction based on my financial position.  I've managed to do well on purchasing my primary residence in 2009 and want to parlay into new ventures with my finances.  I live in Las Vegas and would prefer to invest in the area but open to all options.

Ideal Strategy: Long term buy and hold SFR rentals and/or Vacation rentals. While it would be great to generate cash flow with properties I'm comfortable being cash flow neutral (have decent 9-5 career) and gaining equity/appreciation on properties.

Financial Position:

Primary Residence:

• $310k conservative value
• $158k mortgage
• $152k equity, $133k net if sold after commissions
• $60k HELOC @ 7% with zero drawn
• $1,090 monthly payment including taxes, interest, HOA
• Average neighborhood rent $1,600

Cash on Hand - $50k

Credit Cards - $70k available (balance paid in full every month).

Looking for advice on what ideal next steps would be.  The goal is to purchase at least 1 property a year going forward (using w-2 income to qualify/bonus as 10% down payments for new "primary").  Stuck on the fact its extremely cheap to live in my primary residence compared to all other living options.

Some Options

• Stay in primary - house hack and get 2 roommates and generate extra $1200 month free cash flow for other options
• Purchase new primary ~$450k investment with following options:
• Sell house and bank $130k
• Rent house (long term) and generate $500 per month free cash flow
• Rent house (long term furnished) and generate $1000 per month free cash flow
• Turn house into vacation rental, self manage and earn ~$1000 monthly free cash flow
• Invest in out of state properties (Memphis, Kansas City, Indianapolis etc).
• Invest in vacation rentals (Big Bear Lake CA, Brian Head/Duck Creek UT, Gulf Shores Condo)

Would be great to hear what some seasoned professionals would do based on the financial situation.  

Also looking for investors, real estate agents (investor focused), wholesalers, flippers, contractors in the Vegas market to connect with.

Thanks,

Ryan

Anyone have any success with short term vacation rentals in the Brian Head, Utah area?  Condo's seem reasonably priced and off some decent amenities.

Hi BP Peeps,

Hoping I could get some guidance on financing a condo. Here's the situation. I'm in the process of doing a cash out refi on my current house (removing PMI and lowering interest rate!). Looking like I'll be getting roughly $35k back at closing.

I'm looking to pick up a condo to either A. downsize myself and rent out my house or B. rent out the condo.  The issue i'm running into is that many mortgage companies will not finance condo purchases, even with a sizable down payment.

Does anyone have experience in non-conforming lending that would allow me to put 20-30% down on a condo with a traditional 30 year mortgage?  Or know of a lender that will finance?

Thanks in advance!

Ryan

@Robert Adams 

My investment strategy is to pay cash for undervalued wholesale/flipped properties with the intention of holding them as rental units to yield cash flow.