Updated over 9 years ago on . Most recent reply
New Member from Nevada
I am new to real estate investing and became interested when, 6-weeks ago, I stumbled across 4, 2-bdrm oceanfront townhomes built in 1997 that were for sale.
The seller has made no improvements, rents out the properties for below market rates and does virtually no marketing. Currently occupancy rates are approximately 40%.
I know my marketing abilities would increase occupancy, and with a little updating I could increase nightly peak season rental rates by 25%.
Without any changes and 100% financing, I think the properties should net positive cash flow.
That all said, what I do know is that I don't really know if my thinking is correct. I don't know if it a worthy investment, and if it is, then I don't know how to get that kind of financing.
Regardless, my interest is piqued to want to start getting into all sorts of real estate investing. Any mentoring, partnering, financing, etc. is more than welcome.