All Forum Posts by: Steve Walczak

@Christina Hall

Congrats on your investment!

Is it Lake Arrowhead CA PA GA?

I’m currently looking to purchase in Lake Arrowhead PA.

Cheers,

Steve

@Louis Zameryka

First of all, congrats on the move!

Check out this website: https://getpaidforyourpad.com/airbnb-tools/

You will find there all sorts of software suggestions, reviews, and comparisons; this is one of the best STR sources available out there, with podcasts and training.

Cheers

Steve

Hi Josh,

According to my research, there are 3 possible types of short term rentals, depending on the length of the stay:

* Short Term Limited Lodging: If you rent out your home in the Philadelphia housing market on short term basis for no more than 90 days per calendar year, you don’t need a limited lodging permit.
* Limited Lodging Home: If you rent out your Philadelphia home for more than 90 but less than 180 days per calendar year, you will need to obtain a Limited Lodging Home permit from the City’s Department of Licenses and Inspections.
* Visitor Accommodations: If you want to operate an Airbnb rental property for more than 180 days per calendar year or the property is not your primary residence, you need to get a registration permit for a Visitor Accommodations use.

Base on my experience, some banks would use up to 75% of rental income, but they would rather use the long-term rental income specific to your area. If you can qualify for the loan with 75% of the long-term rental income, that might work.

@Pavel Shemyakin  @Krishnan T.

@Zack Todevski @Jay Hinrichs

I was about to start a business relationship with this guy.... because his YouTube channel seems to be so good...

Shouldn't there be a way to shut him down from social medias, since that's how he lures his pray?

@Parker G.

Hello Parker, 
Thank you for your post!

Hi Aundrea Newbern Have you checked if the current lease agreements have a clause about termination of lease in case of change of ownership? That would be a solution.

Hi John Gilligan Have you decided where do you want to invest? Is it going to be in PA or out of state? I'm getting ready to purchase my first multifamily as well, and I'm trying to figure out the right location. Would love to hear your (and others) thoughts about this: how do you choose the right location? Good luck John!

@James Masotti

Would you be willing to share the names of those 2 financial institutions that would offer HELOC on investment properties?

@Allison B.
I'm myself associated with Citi, and we don't do HELOC on investment properties; just like James Masotti mention, the big banks won't do it, they go after the low-hanging fruit.

Matthew Greco Hi Matthew, I'm from Maspeth as well and agree that working for somebody sucks... too much BS... Good luck in following your dreams!