All Forum Posts by: Lauren Holmes

 thanks so much for the reply! :)

Update on our plan: We are going to take out a HELOC on our primary residence for the down payment on a DSCR loan (& take out as much as we can on the HELOC to pay for some cosmetic renovations)

 Hi Luke, Did you find one integrated better with resortcleaning.com?  

Thanks!

Dan, Take into consideration what you personally want out of a property. Is it just cash flow? Do you want a badass vacation STR that you yourself can go utilize so you don't have to pay for a hotel? Do you feel you'd be better suited to self-manage or use a property manager and what are those associated costs? Property management for long term tenants is probably less time consuming than an STR. I would think beyond just the money aspect of it and think about what fits into your lifestyle and your bandwidth to manage something. Best wishes!

 Hi Quinn, Have you had any issues integrating Hospitable with resortcleaning.com? My cleaner uses resortcleaning.com and I still haven't decided on which PMS to use but want to make sure it integrates with resortcleaning.com.  Thanks!!

David thanks so much for your reply. Great point! We did not think of that.

Hi! I am looking to purchase my 3rd investment property but I am tapped out on cash for a down payment. I do have ~$250k in a stock portfolio and just learned about margin loans. I'm wondering if I can take out a margin loan to borrow a down payment for a hard money loan (my understanding is usually 20% down is needed for a hard money loan). My plan is to find a property that is somewhat distressed/outdated/needs renovated so I can improve the value and then refinance it with the goal to pull out enough money to pay back the margin loan and what's owed on the hard money loan. Does this seem like it could work or am I dreaming? 

PS: my DTI will not allow for any type of 2nd home or investment loan so that's why I think I need to go with hard money

Thanks so much for any insights! :)

Lauren

 I don't think the underwriters on a conventional loan would allow the seller's 1099 as something you could count as your income but you can try.

 I see your update here and that is rough! Yes, we are in contract in Pigeon Forge and also had to pay $1,250 for appraisal!! Times are tough right now but I heard a good quote by someone that these conditions are 'separating the sheep from the wolves' so I am just going to keep keeping on!

 Hi Melissa, I googled Finance Properties and can not find them.  Would you mind sharing contact information? THANK YOU!!