All Forum Posts by: Andrey Gorokhovskiy

Sounds awesome, I have a few properties out of state looking to get more into out of state investing. Will see If I can make that Sunday happen.

Hey all we just closed on a property in Denton and I am looking into getting the process started on building out an additional dwelling unit. I am not sure what they are called down here in Seattle we call them mother in laws. I spoke with the city and they allow a 1000 sqft 1bed 1 bath apartment. I would love some recommendations for anyone that has experience on getting plans and permitting. Thanks so much!

@Roland Widmann Thanks! We will be down officially the week of Sept 10th. Would love to catch up once we are moved.

@Tyler Hodgson thank you! Yes we closed last Friday! We will officially be in Denton the week of Sept the 10th. For sure lets get together for lunch.

@Andrey Y. for sure, since it is a short stay rental and nightly rates changing with demand it is a little hard to have defined income. Since we launched the last year has been solid  - Since we have lived on the property it only would cost us around 50 extra a month for water and utilities from what we were already paying. Once both air bnbs are up and running I am calculating about 1700 a month for all fee, bills, utilities, management and cleaning. Every stay there is a extra cleaning fee that the customer pays that I pay directly to my cleaner. 

Once we move out it will be a little more clear when we have 2 air bnb rentals. I currently do have a HELOC on this home that I have been pulling and putting back for flips and projects but its only about 70k. With the 182K I would want to purchase either a multi family property with 20% down and some repairs or a couple SFH's.

Its tough there are so many options, just have to figure out which one will work the best with what you want to do and your overall goal.

@Andrey Y. I guess it is different for different people. It is passive for us since we have a management company & and cleaner that takes care of all air bnb needs. Thanks for your advise regarding air bnb.

Ok here is our situation we are still new to real estate and investing and just purchased our 3rd rental and want to keep moving forward.

Our first property we bought in WA state in 2012 for 130k and now is valued at 400K+ we have a small studio air bnb (converted from a 330sqft garage) averaging $1900-$3000 per month while we are still living in the rest of the house. We also just launched the remaining of our house on air bnb and received our first booking starting in sept since we are moving out. We are expecting to have a gross income of $3000 - $6000 a month on this property. Currently our mortgage plus all taxes and fees equal to $1100 on this property so this is a very hot rental for us.

My question is would it be wise to abandon a 118K loan at 3.5% interest rate and do a refi cash out at 4.65% for 300K and take that 182K and invest it into more properties or leave it as is.

A 300K loan will raise our monthly expense from $1100 to $2200 on this house which is still well under what the property is producing in passive income. 

As a investor and a desire for acquire more properties it seems like it is the right thing to do. What do you guys think?

@Trevor Reed Thank you! I do not see any messages from you in my inbox.

Hey Tyler! Thank you I appreciate that! My wife, daughter and I are moving to TX to serve and get a little more training at the village church. We just purchased a home in Denton and closing on that home in a couple of weeks. Looking to hit the ground running and meet some like minded investors. The last few deals we did on our own with my wife and being self employed it is like pulling teeth to pull off these loans. So in Texas we are looking to build relationships and possibly partner up if its a great deal for all parties involved.

Looking to connect moving to Denton TX. I only have 5 deals under my belt but looking to grow and do some deal with others and to learn more. I am a general contractor/invester.