All Forum Posts by: Jules Aton

Hi and welcome. Unless you live in a VHCOLA generally easiest to purchase your first place where you live and work because you know the area. 

Interesting that with housing ESAs are a blanket inclusion whereas other industries have made a distinction between ESAs and actual trained service animals.  FWIW I also think there are issues with insurance companies being able to refuse an entire breed or breeds without a specific history of attacking a person or another animal but that is another topic I guess. 

 Then you are smart to avoid eye contact and keep it moving. :(

Hi and welcome! 

First, I feel you. 

What I have found with rental properties is that things wax and wane. There are times when a property takes a ton of time and money but will then be fine for a year or two. It can be overwhelming. Generally speaking there is a lot of babysitting that needs to be done. I have only used a PM for one STR which helps but you are still on the hook for responding and financing the snafus. Bottom line: there is no free lunch, RE isn't passive income and in my opinion I earn every dime it brings in.

It does sound like a money grab and this probably isn't what you want to hear but I lump condo and HOA boards in with IRS in my mind. Within reason whatever they say I owe I pay in an attempt to stay under the radar. Part of the game that I accepted when I bought in and so far has worked well.

With no actual knowledge of the area or price I might like it for a LTR or live in, renovate and then sell. It is a little dated but looks solid and back in the early 80s they were still building decent size rooms. Coastal areas can be fairly hot for retirees who want to purchase something without the beachfront price or headaches. From what I hear NC and SC are experiencing a fair amount of influx from northern retirees. I'd consider it if the numbers and potential make sense, but probably not for a STR right now.

Narrowing down the area is key in my opinion and I may be in the minority here but initially I think it makes sense to buy in a close proximity to where you live. Having local RE was beneficial for me in the early days because it saved on PM fees, I knew the value of local neighborhoods and could actually go lay eyes on things if needed. If you have narrowed down the area and have been watching properties for a while it is time to rip the Band-Aid off. You should have a decent feel for how much something is likely to sell for and the rental income or flip value it has. I was never in a position to get the cream of the crop inside deals so I wasn't holding out for that but have purchased plenty of decent properties.  Best wishes. 

Hi and welcome!