All Forum Posts by: Zahid Ali

PNC bank offer heloc on primary and secondary residences (think vacation home/2nd home). However, both must be under your name and you must meet their 50% DTI ratio.

@Jeff Lamothe Hi bud, J am curious to know how your NEPA search turned out and if you have any feedback for new investors looking in this area.

@Charles Romano hi Charles. I am not sure if you still need assistance with your purchase in the hideout. I own a property there and would love to recommend some of the folks I used. Shot me a pm if you have any questions. Good luck!

@Sylvester Szmejda I am in a similar position and would like to know how did you make out with your situation? Did you reach out to any of the referenced lenders from earlier replies? I am completing a BRRR in NEPA and would like to get your feedback (good or bad) regarding the cash out refi.

@Jeremy Flores house hack is your best bet. Find a multi-family that you can buy as your 1st home and live in one unit and rent out the other(s) to cover your mortgage. Save up some more money during this time and eventually move out to another house and repeat or just find another investment property. House hacking can be beneficial for 1st time buyers. Good luck with your search and kudos on paying off the debt.

Congrats on the new home. To list it on Airbnb check out their information for hosts and take an intro webinar with one of their top hosts. I found the webinars very informative and a solid base to start up your Airbnb setup. 

You can operate under your name or form a separate LLC/CORP strictly for the STR (do an S corp Election ie: consult with your CPA/attorney) See which avenue suits your need and please get STR insurance endorsements. Also note not all landlord's policies will cover STR and you need to disclose this on your application. Proper really have a good STR package and I believe it to be the best so far in the industry. Their rates are a bit on the high side but you need to plug and play to see how much coverage you really need.

Good luck!

@Chris Huang if $8k includes the repairs cost then definitely try to get it.

All seem like an easy fix. What the above two said is accurate. Renegotiate to reduce the price of the top and fight these yourself. All interior and doesn't require permits. You need to take after pictures and submit them with a certificate of correction. 

Hi Jessica,

I am in a similar situation to you and will be setting up my 1st BnB rental this month. There are other properties in the area that are much nicer and some that are sub par and guess what the subpar properties are almost all booked through the summer. I guess people aren't all up for magazine-type stays like what Nathan G above said. I would just list it a little less than what others are charging in your area and act based on the feedback received from the guests. If feedback is positive then continue with the price and save up to improve your listing. Wish you the best of luck and do share how it all turns out. 

It doesn't hurt to try but do keep in mind that a realtor will always bring more money to you and his commission will be paid for in the deal. Good luck with the sale.