All Forum Posts by: Adam Tafel

I manage all kinds of short-term rooms and my team lead @Jordan Moorhead is licensed in TX, feel free to reach out! 

Could you Airbnb the vacant unit while you travel? I'm not sure about occupancy requirements for your loan, talk to your lender. 

I'm currently in a similar situation : refi or sell? I'm talking to my lender to get specifics, and then I'll compare the return on my equity in each situation. Would a cashout refi still allow a healthy amount of cashflow? Chances are your return on cash will be greater with the refi, also consider you're paying down more mortgages and gaining more appreciation (probably) with more properties, adding more to total net worth. 

I think you'll need an attorney in PR familiar with the situation, BP members might not be the most helpful...

I'd love to hear more about the land and opportunity! I'd like to buy a lot on Vieques or Culebra someday, and always jump on any PR thread to network. How is the tourism economy in Jobos Beach? Growing or shrinking? 

Definitely talk to zoning/permits departments. You could run into a possible issue with a future appraisal, we've run into issues in the past with appraisers refusing to classify these properties as SF. 

Not at all. Setting up an auto-search takes about 5 minutes at the most, most agents will be happy to do it. Real estate is a long-game, good agents work to build their future business every day. Good luck! 

1. Yes. 

2. Call it inflation or appreciation, your cash is mostly likely better off as equity in the long term (vs. sitting in the bank). Your net worth will increase by cashflow + appreciation + loan paydown. Most investors divide yearly cashflow by cash invested (downpayment, closing costs, repairs) to calculate their return. 

3. Many properties with long-term tenants have under-market rents, regardless of work needed to be done. A cosmetic upgrade is a good way to increase value, but make sure you have rental comps that justify the additional investment. 

4. 4-units tend to perform better than duplexes, but this is not an absolute rule. Analyze each property in your market individually. 

5. Maybe... a refinance might make sense when you have 20% equity, it might not. Talk to your lender. 

I have 4 leases at this point, fully booked through the summer. Ask me anything - 

Welcome to BP! We have a monthly meetup, look for "Twin Cities Real Estate Investing" on meetup.com. Keep posting on the forums and you'll get connected to lots of good contacts. 

@Joe Vang thanks for sharing! Do you have ARV comps to justify your projections? A 45k rehab doesn't guarantee 45k in equity. I would also increase your vacancy projections pre-refi. An 8 month rehab will come with significant carrying costs.

Where in St. Paul is the property?