All Forum Posts by: Al Wilson

Good question.  In our area, 60% of the annual revenue is generated between Memorial Day and August 15.  No surprise there.  Since about 2012, there has been no problem renting a unit at the beach during the rest of the year, it's just that rates are lower.  If you want to rent to a snowbird for the December through March time frame, you can probably make enough to pay the bills for those months (not including a mortgage loan payment).  We got very familiar with the ebb and flow of rentals over the course of the year before we made our purchase.  Good luck.

Purchase agreement from your attorney. Title insurance from your title company. Escrow and closing services from your closing agent. Pay your purchase price, get a deed, record the deed, and you're done. Good luck.

Absolutely have your attorney draft the contract for you. Good luck.

This is what are doing right now. What specific questions do you have?

Then you need to provide them with proof of funds.

No. They need to be kept separate.

Sounds like the OP should simply give his seller a check for $1000, take whatever piece of paper the seller offers in return, and he gets what (if anything) he gets for his money.

There are always nuances. An LLC is not a corporation or a partnership. Agree with the others - listen to your lawyer. Good luck.

A few days in our experience.

There are exceptions to every rule, I suppose. One place you can look is on the banks' websites. A lot of those will have REO lists, but we have never found a bargain that way. Most of the real deals on REO are in the rear view mirror now that we are several years past the real estate meltdown. Good luck.