All Forum Posts by: Jeremy Mahan

Thanks for all the replies. It sounds like Spain may be the best option. I am worried about the restrictions they are starting to impose in some of the larger cities, so I'll probably focus on mid-sized cities and tourist hot spots. Any other advice you might have would be welcomed. Thanks again!

I recently moved to Europe from Texas and have noticed that there are lots of short-term (Airbnb) rentals in most of the European cities. I am interested in getting more information about which cities would be the best options for a first time short-term rental owner. I have owned long-term rental properties in the States for more than 10 years, but have no experience with short-term, and no experience with Europe home ownership. Where would I look to find information about the best European cities/regions to invest in short-term rentals? I'm looking for information about restrictions to foreign investors, taxes, ability to get a mortgage, affordability, etc. If there is a site or someone has this information, I would really appreciate it. 

I currently own one rental and would like to acquire another one in the near future.  I am trying to save up the funds for 20% down on my next investment.  To get the 20% I need to get my next property, I could borrow money from my 401k or I could possibly do a cash-out refi on my current rental property.  I'm not sure which is the better option.  I'll have to pay back any cash I borrow from the 401k, but I am not charged interest, however, if I do a cash-out refi on my current rental, my cash flow will decrease on that one.  Any advice you might have on which option is better, and why, would be greatly appreciated.

I am currently living in a home, but would like to make it a rental and buy another home.  I am concerned about getting financing because the house I am currently in has no rental history.  I figure that one option might be getting into a home that is owner financed.  How can I find deals that are owner financed.  Are there other options when I have a home that will be listed as debt, yet I have no rental history for it?  How do I get financing for another home?  Any advice or recommendations would be great.  Thanks.

Marsha,

You should think about looking to the suburbs of Houston if you're having problems finding anything in the city. I've bought a couple of homes off MLS that are located outside Houston and even though they don't meet the 1% rule, they are cash flowing, they've appreciated slightly, they're never vacant, and I've had great tenants.

My strategy: Look for good school zones; find those neighborhoods that are in my price range in those school zones; research and track rental rates in those neighborhoods and how long they are listed before they rent; make aggressive offers.  

It won't make me rich overnight, but it got me in the game and I'm learning a lot in the process. 

My business partner and I would like to set up an LLC for investing in real estate. We will be investing primarily in buy and holds, but may decide to flip some, as well. Does anyone have experience with creating an LLC? I know we need an Operating Agreement, but not exactly sure what all we need to include in the Operating Agreement. Also, does anyone know an attorney, CPA, etc, that can set up an LLC, that is not too expensive?

How does it work with insurance?  If I end up needing to replace a roof, but the current owner is still carrying the note and paying the homeowner's insurance.  Also, what about if he defaults on the loan?  I have several questions I need to answer before I go into this.

Does anyone have experience with lease to purchase deals?  A neighbor of mine has a house for sale for $145,000.  He said he may be open to selling it as a lease to purchase for $900/mo for 20 yrs, or 240 months.  That comes out to $216,000.  I believe I can easily rent it out for a minimum of $1200/mo and possibly up to $1500/mo with a few touch-ups to the house.  I would be looking at $300-$600 cash flow each month.  I just bought a property about a month ago so I don't currently have the funds for the traditional 20% down on another property.  If I can acquire this one now, should I take the offer?  I don't know much about lease to purchase deals.  Any advice would be greatly appreciated.

I am planning to buy my first investment property in the Northwest Houston / Cypress area and looking for an agent that is familiar with investment properties.  Does anyone know of someone in this area?  Thanks.

@Jeff.  I may look into doing that.  My wife is actually on board as far as acquiring investment properties and has suggest looking for a duplex/triplex where we could live while repairing the other.  We have had a hard time locating the right property, however.  I see you are in The Woodlands.  If you have any advice about where we might find a house/multi-family in the general Tomball/The Woodlands/Cypress area, I would welcome it.  Thanks!