All Forum Posts by: Stephanie Duggan

I LOVE this! and I'd love to connect. My husband and I are open to any advice we can get. We purchased our first property last November. We did take a HELOC out on our current home to help pay the down payment, closing costs, etc. It is a small cabin on a lake, so we are currently doing vacation rental with this. We are pleasantly surprised with how this has worked out. But we would really like to get into longer term rentals and multi-family rental properties. Problem is, we don't have a lot of cash to work with. But we badly want to make this work for long term, and want to get our next property as quickly as possible. Likely this won't be able to happen for a little while due to the lack of cash. Any advice or coaching you have is appreciated and I'd like to connect and chat more!

Stephanie

@Zoran Stanoev... I have not heard of this model before. I’m interested! We were mostly interested in VRBO/ Air Bnb for this lake cabin to start... because it is in the area I grew up. It’s gorgeous. And my dad just retired and is able to help us keep up/ manage the property. He only lives 10-15 min away. It’s our dream to retire up there eventually and have been keeping our eyes out for the right deal for a few years. Just needed to get our foot in the door with potential upgrade later. Next order of business is multi family properties!

Thanks guys!! So you'd be happy. My husband and I have figured out a compromise here! Looks like HELOC May be the way to go for us. But won't happen fast enough. So.... offered the opportunity to my husband's aunt to give us a very short term loan... in which we are willing to pay her $1000-$2000 to use this $ for 2-4 weeks. However... wondering the logistics of this private loan vs "gift" and tax implications for her and us. Is there a max amount that can be loaned or gifted? We will have some things to discuss with our lender about this!

Hi everybody! My husband and I are first time investors. We have spent months reading and studying. And spent time listening to the bigger Pockets podcasts, books, and reading on this website. We both have great jobs and a nice home. We really want to start working on getting rental properties but are having trouble figuring out how to get our first deal financed. We don’t have enough cash for traditional financing. We really don’t want to ask friends and family for help due to history of distant relatives having problems with this. We are looking for ideas. We have found a great deal for a vacation rental...and don’t want it to pass us by! Need some quick ideas. Thank you!!