All Forum Posts by: Teresa Thomas

Hello! We are going to Playa Del Carmen in November (our favorite spot) to look at condo options for short term rental income for the next 10-15 years. Then live there 6/12 months of the year (but still rent out when not there). Has anyone on here done something similar? What did financing look like? We are working with a local RE/MAX realtor in PDC right now.

What financing have you used? Mexican banks require at least 30% down and paid within 5 years. Looking to get US financing, anyone with experience in this area?

@John Semanchuk nice! We are going to talk to our CPA and then get back to you. Thank you for reaching out!

@Mark H. Porter thank you! Is he on bigger pockets?

Hello southerners! We are coming to James Island, SC July 25-27 and would like to see a few properties (SFH), 2-3 bed, 2+ bath, community with pool access. Not sure if everything is done virtually or if we can schedule in person showings. We are looking to air b n b the property, prefer James Island, Johns Island, or downtown Charleston. My mom lives on James Island.

Looking to network in the area, please reach out if you have any referrals. Thank you!

@Andrew B. great post for us newbies, following!

@Steve Vaughan thank you! Yes, staying the course!!!! It’s an amazing feeling being bad debt free.

More awesome ideas. Yep, we make our own lunches. Cutting expenses where we can.

@Kevin Dougherty all great ideas, thank you!

@Teresa Thomas I meant summer is 2021.....

My husband and I just paid off all of our bad debt with a HELOC, 28k, two months ago. It's now paid down to 26k. We pay roughly $1000 a month on it now. Our home is worth 275-280k. We owe 205k on it. Our credit scores are great, 750 and above. We want to use the HELOC (once it's paid down) to buy our first rental, multi-family. We live in WI, great areas here to invest, small midwest towns.

I'm getting antsy! I want to invest NOW! But, I know we need to wait until the HELOC is paid down. We have started an account for cash reserves and emergencies, 2k, and continuing to put money into that as well.

We read and listen to many podcasts and real estate books. What else would you do??? We are looking to buy our first rental property in Summer 2020.

Sweet! Thank you for the hook up!