All Forum Posts by: Danny Gallagher

Wendy,

Thank you very much for your reply. It is appreciated. You gave me some great information to consider. The other aspect I like about buying a vacation rental is being able to use it occasionally (although I know this decreases revenue). 

Hi all,

Looking for advice from an experienced investor regarding my first investment. I'm trying to decide whether I should stick to three cheaper, single family homes (long term rentals) or one expensive vacation home for short term rentals. If you've done both, in your experience, which had the better ROI?

Thanks,

Danny

Hi folks,

I am looking to make my 1st investment. I am wondering whether it is better to save up cash (will take longer to do) to use toward a down payment or use equity in my primary residence for the down payment, then take out a 2nd mortgage to finance the balance on my investment property. Using equity from my primary residence and then the 2nd mortgage approach will obviously increase my debt. Looking for those who have done this and their feedback....were you still able to get a ROI? Thanks, Danny

Hi folks,

I am a new member to the site and 1st time investor. I am learning as I go. I am looking to start small and buy a condo or SFR to rent out and maybe use occasionally for vacation purposes (Florida). My questions are: 1) Is this a solid 1st investment? 2) Which option would net the highest return: condo or SFR? 3) I own a home, but don't want to touch the equity in it. At this point, I'm saving for the 20% down payment and looking to proceed in the next few months. Thanks for your guidance.

Danny