All Forum Posts by: Lily Ardila

Hi!

We are real estate investors and I am also a Realtor/Loan Officer, and we are looking for a CPA with a real estate specialty. Anyone have any good recommendations?

Thanks!

Thank you Miller, this was really helpful! I appreciate the time you took to respond. 

Hi Everyone!

We have a few long term rentals but want to look into diversifying a bit by doing a rooming house. Any tips on steps you'd take to determine demand for "room rentals" in the area? What do you look for specifically in a given area (high rents & low affordability, high density population, certain distance from busy towns)? Or do you believe a rooming house can work just about anywhere or a 1/2 hr drive to a big city? Thoughts?

Thanks yall!

@Chad McMahan oh nice! What parts of Florida did you purchase in? Were they SFH, Multi or Condos?

 Although they have nice beach weather all year round, what did your vacancies look like if you don't mind me asking? Were you able to cash flow on these properties? Soo good to meet someone who's had this experience before! :-)

Hi All!

Currently looking to purchase our first vacation rental/second home with 10% down. We live in the metropolitan Washington DC area and as you can imagine, its pretty expensive to really pay 10% on anything here in this area. Our options right now are Ocean City, MD where its pretty cold most of the year or Fort Lauderdale/some beach in Florida.

Does anyone currently have something similar going on? Investing in a vacation rental that's 1,000 miles away or investing in Florida? Any recommendations on great beach rental areas along the East Coast? And how is that working for you?

Thanks :-)

Wendell De Guzman hi Wendell! Actually were walking away from this short sale, we found out it has really bad structural issues & not much room to profit. So we're still looking for our first deal!! :-)

Thank you @Wendell De Guzman, I hadn't thought about Lending Club! Thats a good option. Thank you for your reply :)

Hi all Again!

Theres a great deal in my area listed for 190k as a short sale and comps for traditional sales are 300-350K. We saw the house, the main floor is in great condition. But in the disclosures, it says the house "likely has mold and water" so if anything repairs cannot be higher than 10K. 

So my question here is: what are the different creative financing methods i could possibly apply in this scenario? Aside from purchasing it with a hard money lender since it most likely it won't qualify for a regular bank loan due to the loan...

Any suggestions you may have are soon greatly appreciated! Thanks you guys!

Corby Goade thank you! This was very useful. I will definitely look up that book as well :-)

Hi all! Wanted to see where everyone gets most of their education on creative financing, mortgages, contracts, notes, you know learning the rules of the financing game--not really anything that has to do with financing/leveraging a home. Would anyone recommend a specific class or book? Thank you guys :-)