Watch your back!

I live about 35 minutes away but have been watching a few houses up there for months.

That’s an imposition on the bed guys - you can’t use the sofa to watch tv late, or in the morning, and have to be quiet when a sofa bed guy is sleeping.    

My IBC policy is a reserve fund (Fannie Mae requires 6% of unpaid balances if you have enough loans), an escrow account for income taxes, property taxes, and hazard insurance premiums, and a place to set aside allowances for vacancy/repairs/capex.You might watch some Truth Concepts videos on YouTube.

You just have to watch out for buying anything below a C+ class property anywhere.

Good things, things to watch out for the benefit of  newbie investers like me.

As far as numbers goCost of Property closing and Transfer Fee's - $58,000standard rental income per month - $490 - yearly income - $5,880If used as AirBnb - Possible $7100 yearly incomeTaxes - $450 yearlyHoa - $500 yearlyThere are many cost of living videos as well as quality of life videos you can watch on youtube but until you experience for yourself you may not get the real feel of living in Colombia .

This proved to be confusing considering the fact that all of the YouTube videos that I’ve watched and the many books I’ve read, the professional wholesalers who swear by the above formula fail to mention the Fixed Cost into there MAO.

Many hosts out here are people who aren’t running their STRs as a business (watching profits, realizing true carrying costs, etc).

I have watched lot of YouTube video about using HELOC to payoff mortgage early.