All Forum Posts by: Gerald Pitts

No need to apologize.  Yes, local mortgage company. You want someone who understands these kind of loans and has done a lot of them. 

I prefer markets that depend on tourism for the local economy. Those aren't typically looking to shut down vacation rentals. 

I've never heard you can't. I've also never heard of a lender monitoring this. 

I have done a couple with 15% down. 

I agree with Scott on everything.  I try to think of everything anyone would need to cook anything.  I would go with all the PM suggestions, all of your own suggestions, and also ask the cleaners what they think.  

Ask a lender about the 2nd home loan. 10% down.

Self management can be mostly automated with software like Your Porter, Pricelabs, Hostfully.

My understanding is that it can be a good way to get started if you're low on capital, but I would lay out a clear plan on how this leads you to purchase your first property. Because arbitrage is essentially a job with no equity or appreciation.  

Another Smokies vote.  Also Blue Ridge, GA.  Not sure about skiing there, though.  

Curious how much it grosses annually?