All Forum Posts by: Tyler Eastridge

 The water heater is not tankless, but it is out of sight and it is electric.  I thought I was handy, but I have realized I am not near as handy as I thought I was haha.  I appreciate your insight.

Good afternoon,

I have a property in Gainesville, FL that I am thinking about turning into a midterm/short term rental.  It is a 3/2 with a converted one car garage that is a bonus room.  This room has the washer, dryer, and water heater.  I was wondering if anyone had any ideas on what this room should be.  I do not think it would be a good bedroom as the washer and dryer are in a closet in this room.  All thoughts are appreciated!

Tyler

    Hello,

I have a friend who is trying to sell his house quickly to move to a different city with his wife and kids. He currently has a 2.8% interest rate with about 232K left on the mortgage. The mortgage is a VA loan. I wanted to get some insight on whether it is possible to take over the property partially subject-to and partially seller finance or a lease option since I know VA loans have a few more stipulations than normal conventional loans. There is about at least 100k in equity and is in an up and coming part of town. Thank you!

Thank you all for the insight!

Good evening,

I currently own 1 investment property that is financed through a private loan with a promissory note.  There is another property that I am interested in and I am looking to use conventional financing.  My question is during the application process for a mortgage.  Do I need to disclose the private loan?  Thank you.

Ya, after doing some more research I think I am going to go more of a greige cabinet with an agreeable gray wall.  

Has anyone had any experience with solid surface counter tops?  I am looking to install new countertops and have the cabinets painted a medium gray color.  Not sure how I like granite with that color, but solid surface has tops that have a lot of white to contrast with the cabinets.  Would appreciate anyone's thoughts.

I am hoping to get some insight and wisdom.  I am looking to purchase my first rental property, but would love to get the opinions of others on here.

I am currently looking at a property in the Panhandle of Florida.  It  is selling for $130,000.  I won't go higher than $125,000 (hoping to get it for less).  However, I am still on the fence about even offering that due to interest rates resulting in low cash flow.  Below is that data. 

2/2 Townhouse that is estimated  to rent for $1200/month (By a property management company and another realtor/investor) in a busy part of town that's a class B area.

Maximum Purchase Price = $125,000

Down Payment: 25% down = $31,250

6.5% Interest rate with a point buy down

30 year mortgage  

Fixed expenses (Mortgage, Insurance, HOA, Taxes) = $857

Variable Expenses (Maint, Cap Ex, Property Management, vacancy) = $312

Estimated cash flow = $30

My strategy would be to refinance when rates go down, hopefully to the low 5's.  I would want to update the flooring to LVP and I may have to repair some of the siding.  The seller is willing to give the buyer a $5000 credit to closing or repairs.   Is the gamble of little cash flow worth the potential opportunity in appreciation, tax benefits, loan pay down and potential refinance in later years?

I am looking to purchase a house in Gainesville, Fl to be either a short term or mid term rental.  I know there are a lot of factors and each market is different, but in general do 2 bedroom units do just as well as a 3 bedroom unit?

 Sticking to the coast or Orlando makes a lot of sense.  I've been looking into Jax, Tampa, Fort Myers.  I see that your in the Cape.  I grew up in south Fort Myers.  Would love to talk sometime about the market there.