Turbotville, PA · Member since 2018 · 30 posts · 4 votes
7y
We had setup a very high quality Airbnb unit in a popular vacation destination in Samoa. Two months went by, with not a single possible. Someone finally responded, asked some questions, the fell through. Check to see on Airbnb in your chosen area to see if there's a high level of demand, and if there are already too many other units in the area. It can be easy to overestimate your future earnings.
Rental Property Investor · Salt Lake City, UT · Member since 2018 · 50 posts · 51 votes
7y
I'm not very well versed on USDA loans, so I thought I'd throw out this idea. @Dawn Brenengen could you purchase a multi-family property, live in a unit and vacation rental the other(s) on a USDA loan? Just trying to throw out some creative ideas for you @Eldon Hongo . Might not work depending on where you want to live and such.
Greetings Dawn! Hope all is well. It took a few days to obtain info from the usda office because of government shutdown. I talked to them today and you are completely correct that I can’t get a loan for purchasing a rental property through them. In Brandon Turner’s book “Investing in RE w/no or low money down” he indicates that the usda offers a loan w/10% down for non owner occupied property.
Oh well. I just have to go another way. Thanks for your correspondence and Aloha, Eldon HONGO