All Forum Posts by: Isaiah Bellah

 This is the other side that I’m wrestling with. Equity is a real thing, so even if the deal is not the best, We can still make money at the end of the day. Just trying to stay smart about it all. 

Yeah... That's what we were coming to realize. I believe we can get that 10k back through minor updates and appreciation. I do have an in on air BNB management, but still we are not looking at a great deal here. 

My follow up question is, everyone is paying over asking right now. We have had a hassle from conventional loan guys because we are self employed, even though we have the money. This is part of the reason why our loan terms are not great. Would it be better to form an LLC and get a different type of loan? We do eventually want to own a couple properties, so I'm trying to understand how to do it correctly.

My wife and I are small business owners and are looking buy our first home. We plan to live in it for one year and then rent/airbnb it out. We are using an FHA and putting 3.5% down plus we have an appraisal gap of 10k that we have to cover in cash. As I look at rental prices in our area, it seems like we would break even on our mortgage on long term rental. Air BNB seems like it would cash flow a little bit better. The goal is obviously to cash flow on this property within a year. What are you thoughts about this situation? would you buy? What questions would you ask yourself to make a great financial decision?