-Opportunity cost: A 7% interest rate isn’t great, but if you think you can achieve returns higher than 7% by buying another cash-flowing property, paying off the mortgage might not be the best use of funds.Now, let’s explore saving to buy another property:Investing in a Second PropertyPros:-Diversifies your portfolio, reducing risk if your Palm Desert STR underperforms or faces challenges (e.g., stricter regulations or lower demand).

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

I'm curious to connect with any other STR/ MTR owners in that area to get more info on resources that are in the area and what challenges/ successes you have had there. 

Challenges?

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

For those who invest here, it has been tough sledding since 2023, and much more challenging since the onset of 2024.   

Santarelli’s musical productions.Disproving a negative is challenging, and the representations ofMarco Santarelli about how Norada Capital Management guarantees up to 17% annual returns need addressing.

I just closed another one with Easy Street Capital and it was very challenging because our Loan Analyst assigned was pretty new, causing many delays and errors that should have been caught early on. 

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

Look at their finishes and what they offer guests, use that as your baseline, then improve upon it.