All Forum Posts by: Tiffany Cohen

Yes I’m the UK it’s only a couple years and then you need to redo the loan. Which is fine. Their rates are finally going up about 1% to just over 3%. Their rates incredibly low but yes term much shorter. Looking for someone though who can help with less financial down payment as some of our money is tied up in another investment property.

Looking for creative financing for an international purchase. Has anyone every worked with an ex-pat trying to buy in England? Foreign banks will lend with a 25% down payment. After doing research it's a very high barrier to entry with traditional lending.  There's other upfront costs including stamp duty, 2nd home tax, foreigner purchase tax (solicitor, tax professional, currency broker etc) and then of course the exchange rate.  Looking to buy a vacation home and spend part of the year there then short term (or mid term let) in between. Anyone have any insight or contacts who can help at a lower barrier to entry?

Agree with self managing on the first one so you really understand what needs to be done in order to run a successful property. Property managers do take a lot off the top so you'll for sure what to know what they are doing.  when things are good you wont complain.  But when they aren't great you'll be questioning things without having true first hand knowledge especially when it pertains to your specific property.  Congrats and good luck!

I feel like in order to best answer this questions we do need more specific information on how much on average is being spent monthly on maintenance, repairs, property manager, cleaning. With the 2 figures you provided I would say that something is costing you a lot of money. Also does the mortgage you quoted include taxes, insurance etc? Those are also monthly costs needing to be factored in.

Congrats it looks phenomenal! Not only is the house design so well thought out (especially for standing out), but the decor and styling is spectacular as well.  No doubt it will be a highly successful cash flowing property. I'm an RE agent in LA and I have just saved it in Airbnb as my own personal inspiration for my next str investment property. Keep us all updated on how you do!  Already see your first positive review!

I'm so curious to know what's going to happen here.  Surrounding cities Palm Desert and Indian Wells both put indefinite pauses on issuing any new str permits.  Only someone who already has one can renew but if they don't by the time the permit is expiring they wont get it renewed again. The areas you can buy in are almost non-existent and if you can buy in them they tend to be condos with HOAs which I don't love. AND I believe they are now capping how many days you can str these places at like 29 days? As an RE agent in LA I was looking at a place for myself to buy as an str and was very disappointed with the lack of ability to buy there anymore. Still a good city though for mid-term rentals I believe as the snowbirds come. Anyone have insight or personal experience with that in these cities recently?

Do you have anyone working for you locally like a management company, cleaning service etc? I'd think as a good client they might be willing for you to use their business address and possibly store until you get there?