All Forum Posts by: Zack Heath

@Ryan Howell that’s true, thanks for the input. Main goal is just to make it worth it in the end. Looks like buy and hold for rental is usually going to be the best way to me.

@Derek Robinson thanks! I will keep you in mind

@Ryan Howell are there any quick ways to liquidate my capital though? If I tie up what capital I have in this I will run the risk of missing future potential investments because of a lack of capital.

@Jon Arsenault thanks for the input. I couldn’t agree more with the pet scenario; it has city water and working septic, so if I can keep rehab scope in check it would be a great rental, but it would tie up my investment capital until enough rent came back. Are there any good ways to refinance or put that amount into a separate loan so that I can be ready for another investment property shortly into the future? That is my only objection for holding and renting

@Jon Arsenault thanks for the input. I couldn’t agree more with the pet scenario; it has city water and working septic, so if I can keep rehab scope in check it would be a great rental, but it would tie up my investment capital until enough rent came back. Are there any good ways to refinance or put that amount into a separate loan so that I can be ready for another investment property shortly into the future? That is my only objection for holding and renting

Brandon, I live in western North Carolina, near Asheville; these properties don't come often but this is a 3 bed 2 bath manufactured from 1986. With its age (and being manufactured) I expect the finished value to be low, because not many people in our area are looking to live in a 30 year old manufactured home, which is what is making me consider renting. It is a foreclosure that went to the bank after previous owner passed. 

I'm looking at buying my first investment property around the 30k price that needs tlc, hope to do work to it (20k max)and turn it into closer to a 90k property in my area. If it goes through, I don't know if I want to/should buy and hold for rental or fix and flip. Doing the investment on HELOC and this will consume half of my available capital. This will be my first investment experience of hopefully many. I have a lot of carpentry background, so sweat equity is hopefully in my favor, but this is the first time I have the capital available to do so.

Any suggestions?