All Forum Posts by: Andre M.

 Hit up Candace Pfab for info. We recently closed with her help (and her husband’s). Great realtor!

We are mostly investing but plan to use in the off season. My wife and I both work in New Orleans. 

We chose Orange Beach because it is a bit nicer than Gulf Shores (less nice than Florida) and is closer to NOLA. Clientele similarly a bit better.  This is my first property, and my goal is to own vacation homes that I can use in the off season. It’s just 3 hours from NOLA, but I’m not investing at home. At least not yet and for the foreseeable future. But give Candace a shout. We worked with her almost entirely remotely. She goes above and beyond.

Candace is hands down the best! We are closing tomorrow on a place in Orange Beach with her help.

Thank you! That’s the term I needed.  

My wife and I own a house and we just bought a beach property. We did the beach condo as a 2nd home (I did it truthfully with the bank, and they know i am doing it as a STR...incidentally, they required I self manage if I wanted to call it a 2nd home). I am still very interested in the Smokies (working with Avery's team/Gennifer), but I would also need to do this as a 2nd home. I am not sure I can even call this a 2nd home when it is actually my third "home." Can I even have 2 vacation homes in addition to my primary residence?

But, to my original question, at what point do banks stop allowing me to borrow money, because I have borrowed too much? When I google search this, it just talks about credit cards. I know if I had a STR "business," they would let me use that income to borrow further properties. I do not, though. But since I am going for another vacation home, at some point, will they not pull the plug and say "nope. too much." My wife and I both work and have good income. I am sure that matters in whatever mathematical formula I am trying to find.

So finally, what is the formula to see how much money I am allowed to borrow?  I do not want to go through the whole process and then realize I am not a candidate for borrowing more.

about 6 months ago, one of Luke Carl's crew told me to not look in Cosby (unless it is right on the main highway more or less). I am still working with her and looking for the right place closer to the action. Perhaps that has changed. I also wonder whether Cosby would be as amenable to STR over the long haul like Gatlinburg is.

Great. thanks for your input.  

springboarding off your post here...How do service animals come into play here? Are we legally required to allow them? Can you legally charge for them? 

Thanks everyone!