All Forum Posts by: Zachary Harrison

How much is the HELOC and what is the interest rate you are paying on it? I assume this is in Denver?

A couple options I see right of the bat is:

1. Depeding on the amount get a credit card that has no interest for 12-18 months. If you can pay off the HELOC in that time it could work. If not I don't like this as the payment will sky rocket after the 0% intro period.

2. You could look for a PML (friends or family and offer to pay them interest but lower than what the HELOC is). Sometimes friends/family will give you a favorable rate so it might be worth asking. I have heard SOMETIMES family will only charge 4-5%. That isn't every family but could be worth a shot.

Hope this helps and goodluck getting the HELOC paid down.

I don't currently invest there but I have heard many cautionary tales about investing in that area. Lots of the hosues around there are in HOAs. Even though most allow STR I haven't heard many success stories from FIRST TIME investors there. Not saying it can't be successful but if you don't self manage the upside is very limited from what I am hearing about the area (if self managing is even allowed). HOA could require a property manager. Extra due diligence is required in that area.

Nice!!!  Sounds like a solid deal to me.  If you want to discuss more you can always send me a private message but so far I don't see any negatives with purchasing the multi-family.

That sounds like an ideal situation versus doing a full fix and flip for your first deal.  If it just needs some paint, updated, bathroom, new appliacnes, ect.  No reason to rush into a full flip if you don't have to.  You also wouldn't have to worry about hard money and and all that.  

Would the property still cashflow if you had to make it a long term rental?  I always like to have multiple exit strategies.

@Leslie Daniely that is awesome to hear!!  Does the property you found need any rehab?  Would you move in to one of the units or are you looking to have it a straight rental?

@Dalton Foote I purchased a vacant lot a few months ago and am looking to build.  Is the process as simple as finding a local builder (one that was recommended has 15-20 yrs exp.)?  I recently was at BPCON and ran into a developer and they recommened I take a different route.  Curious on your thoughts.

Super small town in southeast Missouri.  Saint Louis, MO is the closest major city.

Thanks for the clarification.  I figured you meant larger developments but you can never be sure if you dont ask.  You are correct about the assumptions for the lot I currently have.  Keeping it as simple as I can for the first one.

What type of new construction are you referring to?  Single family, multi-family, apartments?  I am looking at building a single family home and it won't take YEARS.  I see you are in Orlando so interested in more context of this post/is there something I am misssing.  My market has 15k-20k people to so that can make a differene too.

If anyone is thinking about going (and HAS NOT bought a ticket) and wants to share a room let me know. Originally booked for 2 people (with 2 beds) but looks like my second won't be able to attend (check in Oct 5 & check out Oct 9). We would split the price and I could change the 2nd attendee to whomever. Let me know your thoughts. Thanks