All Forum Posts by: Trent Barga

 There is no one better strategy it all depends on your comfortable level of risk and how you want to go about it. I bought a few properties all cash because inflation was taking off and there were very few deals to grab. I let my money sit in there instead of the bank, eventually got a home equity line and recycle the money as deals go up.

Also, if you have a high earning job and your self employed it is easier and less time consuming to go cash in. Pull out 70-80% and go from there. My personal strategy has me only at 47% leverage currently which I love. If there is a market downturn I'm relatively safe and can always pull money out if needed. I produce a good amount of cash flow that allows me to buy 2 properties a year off of my cashflow and I would never have to touch my personal income if I don't want to.

To say one strategy is better than another is naive. It depends at that persons goal, risk tolerance, and timeframe.

 Not large 1500-2200 sqft, a block or two from the beach.

 We'd be okay if it doesn't cashflow, however with current economy and such I'm trying to be more conservative with my "bets". Also, I'm not big on selling cash flow assets for non-cashflowing (not that rich ha). If it would cover itself I'd be able to go from $400k in assets to $1million+ with way better appreciation, Ohio isn't exactly bringing in the people like Florida, Texas, etc. Home run for me would be a property that could make me 3-5k per month on average. 

Correct we would definitely use it personally but not more than 1-2x per year. Homes are not getting cheaper especially landlock and just a few blocks from the beach.

 Hey thanks Kerry I'll start watching those!

 Hey Sarah thanks I might just do that!

Considering getting into STR in the area we vacation at yearly. One of the things I'm running into when running numbers is the purchase price vs. weekly rental rates. We would want to purchase a home so that would put us between 1.2 to 1.5 million. Using different str formulas and considering the extra taxes and fees for running a STR in those areas it looks like break even. Not looking to make 100k/year but would be selling 2 rentals (1031) to make purchase so perfect world would like to cover my $30k/year I currently make on the long term rentals.

Airdna showed $5500 avg weekly rental and $340/night. Ones I've considered and with the upgrades we would do I think we would be in the $6k weekly and 380-400/night range.

Would love to get opinions and thoughts from others who purchase in the higher price points and how they run numbers or make it work. Or if you have a youtube channel you could refer me to that would be great. The ones I've followed aren't doing the "higher" price point areas.

 Thanks Scott. Yeah unfortunately Ohio's land value isn't going anywhere up ha.

 Thanks!

 Thanks Natalie - I work in real estate as an agent and have 6 properties already so I already qualify for that tax break - I'll have to confirm with out accountant. We just switched Accounts/CPAs who specialize with businesses owners/investors (wife and I have mulitple businesses).

Thanks!

 Hey great thanks!