All Forum Posts by: Steffen Cushing

keep this one. the rents your describing and initial investment/payment, sounds like this one is operating very well. from reading some of the other comments, i agree, there would be other options to tab into some of the equity in the home to purchase another deal, while you maintain this one.  

a good book that touches on this would be Veil not Fail by Garrett Sutton. if the objective by running the real estate through an LLC would be to reduce exposure, it provides great insight on how to set up, maintain and reduce exposure.

do you own the home free and clear? or is there a loan on it currently? also how long have you owned it

wanted to see how others in the group would handle

received an inquiry to book my STR down in FL. our listing shows that no pets are allowed (find we book the same without and less stress). guest sent inquiry asking if they could bring their small dog even though it said no pets, i responded with the generic "unfortunately no". then guest responded back that it was a service animal. from what i was reading online, i dont think i can deny based on service animal and also dont think i can ask for proof. we ended up getting booked by another person, but wanted to get other takes on how to handle this situation in future? thank you

 love realtracs

sharing on my own experience. my first 2 deals i was out of state, lived in CA and bought in nashville.  however i had good local connections in that area (my wifes good friend worked for the brokerage and they owned a PM company) and was planning on moving to that area within 1 year of those purchases. since those i have tried to remain local and continue to look in local area, easy to drive to property, know the area, and also have good maintenance/repair crew . i was glad that this worked out, but not always the case. 

agree with the rest of the comments, this is definitely market dependent.  

not sure if i fully understand the question

if you put 20% down on 1 deal you'll get 10% return? or you put 10% down and then keep the remaining 10% for another deal, you'll still get a 10% return combined?

only one of you needs to occupy the home, the other can be a non occupying co borrower. neat part too, is if other unit or units have leases, you can use that income to help qualify for the purchase. good luck

some HELOCs can be put on investment properties, some dont even require an appraisal if there is good market data and the amount that you are looking to get. 

is the house a complete fixer? because delayed financing is a good option in which someone mentioned. This can be done DSCR or even conventional.

also there are other hard money lenders and fix and flip lenders out there that might be able to get the deal done.