I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.

Purchase price: $232,500 Cash invested: $45,000 Newly renovated SFR in Shore Acres, St.

Did you investigate the history of heating costs before purchase?

The city where you invest determines all long-term income characteristics.

Buy: $284,900Rehab: $115,000Holding: $16,500 Points: $3,413 Selling fee: $30,000Insurance hold: $2,000-$2,500 (maybe get back $1,000-$1500 if you close quick)Other title/escrow purchase: $2,500ARV: $500,000Profit: $46,587 (9.25% approx) I would do the deal, especially if you get that gap for rehab closed 3-4 months and tighten up the rehab costs too ($100,000)   

Purchase price: $178,000 Cash invested: $10,000 primary home own use has an Airbnb/ short term rental 5 months out the year/sometime this year will try BRRRR

Quote from @Cody Lewis: My wife and I recently purchased our first STR.

For experienced investors who have done 5+ similar rehab projects, I can lend up to 100% of the purchase price and 100% of the rehab on light 1-4 unit rehabs. 

Purchase price: $125,000 Cash invested: $65,000 Sale price: $250,000 Wish I could have held onto it but needed the money to fund future deals What made you interested in investing in this type of deal?

I am looking into purchasing a second (vacation) home and would love to hear your thought on the pros and cons of going a conventional 30-year second mortgage vs. using a HELOC or Home Equity Loan on my Primary Residence to purchase the second home outright.