All Forum Posts by: John Sprague
John Sprague has started 1 posts and replied 4 times.
Post: Strategy for our own snowbirding destination: NY to somewhere warm Jan - March
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Thanks all of you for these great answers! I really appreciate it.
Post: Strategy for our own snowbirding destination: NY to somewhere warm Jan - March
- Posts 4
- Votes 4
Hey everyone, we're nearing retirement, and also heading into the final R of a BRRRR, meaning it's time to buy again. So we're thinking of locking down a destination we could use to escape NY winters. Head down to the heat for New Years and come back April 1st. So I'm looking for the 20,000 ft picture here, in terms of structuring the property for a 9 month off-peak rental season to cover the costs and hey even cash flow if possible. Not a destination query at this point, more about a discussion of STR vs MTR vs Nurses vs Anything, etc. Any advice on how you might structure this idea would be greatly appreciated! I haven't done an out-of-state property, so I have a lot of learning curve coming. How would you go about this?
Many thanks, in advance!
Post: Does anyone know if any banks/credit unions are offering investment property HELOCs?
- Posts 4
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Quote from @Charlie Hardage:
I see you are in Nashville. Happy to give you the lender I used for a HELOC on a rental. Not sure if they are currently offering them. It's a smaller credit union based in Clarksville.
Hi Charlie, could I ask you for the name of this credit union?
Many thanks,
John
In today's current state of contractor shortage, I can't imagine buying a property thinking someone reasonable and reputable will do the reno for me. But hey I'm newish and not sure how anyone gets to that 70% without doing the work themselves anyways. Maybe I'm missing something!