All Forum Posts by: Jordan Butts

Hello Everyone,

I started building a spreadsheet that follows my rental property worth, paydown, tracks expenses and vacancies as well.

I wanted to incorporate one large spreadsheet with each property showing the monthly loan paydown, all cash in-flow and out-flow, and link it to a networth tab on the sheet.

Has anyone created one of these or would anyone be willing to share ideas or their own spreadsheets for formatting?

Feedback of things to add or spreadsheets would be awesome!

thanks all

I have a condo in Fort Lauderdale I use as a vacation home that I would like to AirBnB while not using it.  Personally, I have never used AirBnB.  I understand the idea of it and why it is so successful but I do not understand the process of using it or running an AirBnB.  If I wanted to use this condo as an AirBnB while living in West Virginia, who would handle the keys or key code to the door of the unit and checking people in and out?  Do vacation rental companies deal with managing AirBnB now?  Does anyone have any experience or links to familiar discussions of how to start an out of state AirBnB?  Any feedback on the starting process from someone with experience would be appreciated.

I am currently working toward a property that has 3 buildings on it, each building consists of 4 townhomes, and for a couple of reasons I cannot/do not want to purchase the whole property at once.  The townhomes are not yet subdivided, but the buildings are divided from each other which would allow me to purchase one building periodically from the seller.  This would allow me to build the capital I need for down payments in smaller increments while still benefiting from part of the property.  For the examples purpose let's just say $100,000 a door, $400,000 a building, $1,200,000 for the property.  All units are 3 bedroom, 2.5 bathroom except for one unit being 2/2.5 (which I could live in) and also, one lot has been approved for another duplex to be added.  I want to purchase in phases allowing me to leverage with 30 year mortgages and have smaller down payments.  I am seeking advice on how to structure this offer in the best way to benefit myself and close the deal; the seller is willing to consider this, I already ran it by him.  I am also open to any pointers or advice on what I should be considering, what to look for, what to look out for..pick my brain or offer advice, I am looking for both!

So a little background, I have tested the waters and flipped a couple of houses with a private investor, but as many of us want, I am ready to be on my own.  My question is, should I focus my current cash flow into paying off my current mortgage and getting a cash out refinance to fund a rental or possibly more flips, or should i save up a 25% down payment and get a a mortgage on the rental while still paying my home mortgage?  My home mortgage is at about $90,000 with 2.875% fixed 15yr and I am only in year 1 still and its appraisal is $150,000.  Living frugally, I could have it paid off by the end of 2018, although I would like a rental sooner.