All Forum Posts by: Account Closed

0 down, 5.25% which at the time was not significantly below the market rate. However it’s a 7 year fixed. Intent to pay off in that time. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $100,000

Converting resident to rental in a ski/lake town. Major fixer.

What made you interested in investing in this type of deal?

Pre-understanding of the area/market, willingness to fix and live in an outdated and damaged home.

How did you find this deal and how did you negotiate it?

Long term friendships with local realtors

How did you finance this deal?

CPA professional mortgage

Lessons learned? Challenges?

Finding reliable contractors in small, isolated areas. Knowing where to take financial shortcuts (floors) and where to invest (fireplaces).

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Keller Williams in BBL

Looking for insight/opinion on investing in STRs in highly seasonal resort towns. Occupancy in big bear plummets when the ski resort closes around April, then heals a bit in summer for lake season. (Resident for 29 years).

On creating a yearly profitable Airbnb from purchase. Is it possible with the current prices? 

There are tourists now in local neighborhoods that would’ve never been touched ten years ago. We’re getting a small shopping center installed supposedly by the end of the year (Marshall’s, Tractor Supply, Grocery Outlet) plus investments in a second “downtown” strip. 

Any Airbnb owners with a profitable investment in BBL I can hear from?