All Forum Posts by: Shannon Green

@Corwin Lyvers great information! I really appreciate it! One question: Is there a difference between a second home mortgage and a vacation home mortgage? Is there actually such thing as a vacation home mortgage? 

@Reagen Nathothanks for the information! My goal is to own three within the next five years. I will definitely look into the location you speak of while doing my research! Thanks so much for the tip!

@Luke Carl i’m so glad I found this group and the podcast! So much to learn and I definitely appreciate it!

@Marc RiceThanks for the tip! I will discuss with my lender tomorrow any restrictions regarding short term rentals.

@Kenneth Garrett the way you stated it is what I understand as well. Thank you @Kenneth Garrett and @John Underwood.  

I was also told by another investor that I could finance as a second home and then put it in the Llc I’ve created subsequent to close. Then I can open a bank account for this specific property to keep things organized. I’m going to do more research on all of this so I have a better understanding as I am completely green and new!

This will be my first investment property. It will be a short term rental property. When it comes to financing, is it best to finance this first deal as a second home/vacation home? Only 10% down payment necessary. Or, should I be in financing another way? Any advice is appreciated. I am a newbie! 

@Brian Hatcher thank you! I will reach out!

@Jake F. thank you for your feedback. A single-family home is exactly what I am looking for. My realtor friend that has a home there is a single family with a pool. They swear by that model and they swear by South Padre Island over Port Aransas, but they’ve never invested in Port Aransas. Maybe it’s because I live in Austin and I hear so many people going to Port Aransas and South Padre Island is so far to me. Just want to make sure whichever I choose will have the best rental potential. Thank you for sharing your insight!

I am looking to buy my first short term rental property. I'm considering South Padre Island, TX or Port Aransas, TX.  I have a realtor friend who owns in South Padre and does very well with her property.  She advises South Padre.  My friend network mainly goes to Port Aransas.  Where can I do the research to find out which area is better for short term rental investment?