All Forum Posts by: Vedran Sehovic

@Rod Atkins Could you please share couple of your deals with us. I believe you were asked to before by a fellow investor from Chicago and you never replied to him. 
It would go a long way reassuring the community regarding this company. 

Dan, sent you an email for more info. 

Congratulations Teresa!
Alabama market?

Very nice, congratulations Bruce!

Do you intend to do it again?

What was the time from initial purchase to final sale?

Issues (in order): 
1. Capital
2. Market (NYC)

Thank you @Jahnae Allen. PM sent.

@Josh Mitchell @Jim Thorpe

Thank you for quick responses guys! Josh you have a good point. I probably wouldn't qualify for payments on both loans. I didn't think about that. 

Jim, local property is 150k, Once I pay 108k+closing on the remote one, I don't think remainder would be enough to buy the local one (it would be less then 20% let alone 30% banks are mentioning.)

Hello All

I have concrete issue at hand. I am looking to invest into a rental property (or multiple) and looking into financing options.

I have 46k in savings and I also have the option of refinancing my current home and get 85k out.
I'm looking at 2 properties; one is 150k close to where I live and it rents out for $1450/month and other is 108k in another market (3 hours from me, it would involve a property manager) and it rents for $1100/month. 

I could finance either property by not touching my current mortgage, using only my savings for down payment,  or I could refinance my current property and purchase 108k property outright. Once I do refinancing and get the cash, can I use that cash as down payment for both properties? Will the banks allow that?

Any advice is appreciated, been trying to do this for a while and it looks like it's finally happening. 

@Chris Miles There is also this site: http://camelbackresortrentals.com/

My friends booked a seasonal rental through them. Prices there are higher per night then on VRBO, Homeaway and AirBnB. Also, expectedly, inventory during winter months is significantly lower. ($575/night for a newer 3 bedroom mid December)

@Chris Miles Hi Chris. I'm in the same boat as you. I will go and look at some properties at Camelback this Sunday. I can let you know how it goes. 

Did you do any research in the meantime? Do you have any insights? I'm very interested to know how much can you earn renting out these places. I see rentals go from 150 - 450 / night depending on a site and condition of a place and season. I have no idea about occupancy rates, management fees etc. I would appreciate any information.

I'm not sure how much should I trust the RE person, it's in his interest to sell me the place. It's in my interest to be careful. :)