All Forum Posts by: Levi Crawford
Levi Crawford has started 5 posts and replied 8 times.
Post: Selling long term rentals to acquire a short term vacation rental.
- Posts 8
- Votes 1
Quote from @Chris Picciurro:
Good morning @Levi Crawford. We live in Franklin, TN but are active in the panhandle when it comes to real estate. I would get involved with some real estate groups down there, even if it is a Facebook group. Just my opinion - 30A is very nice but not a good investment from a dollar perspective. Great place if you want to recovery most of your costs and use it for a couple week with the family. When is the next time you are going down to the panhandle? I am happy to introduce you to some resources.
I’m here now for the next two weeks. Thank you!
Post: Selling long term rentals to acquire a short term vacation rental.
- Posts 8
- Votes 1
Thanks for the quick response! Why do you say not to do it right now?
thanks again!
Post: Selling long term rentals to acquire a short term vacation rental.
- Posts 8
- Votes 1
My family and I love going to Florida off Highway 30A and have been dreaming of owning a place here for years. I am considering selling my rentals in Arkansas to be able to buy a vacation rental where we love to go so much. I have zero experience with short term rentals or buying beach properties. Any help/advice would be GREATLY APPRECIATED.
I don’t need this property to cash flow however this is a lot larger investment than I am use to and would have to have it paying for itself or very close to it. Again any and all help, advice, real world numbers, experiences, anything would be appreciated!
I'm purchasing my first car wash and very excited about it! Smaller 3 bay but in a convenient location close to some of my rental property and it has a nice cash flow. Anyone that owns a car wash I'd love to hear your stories and any advice you may have. Thanks!
Post: Second purchase for new business
- Posts 8
- Votes 1
I am using a smaller local bank and they are working with me very well to get my business. Going over the options I have a lot more buying power and less hurdles with 20 year consumer loans vs 30 year traditional. I'm buying multiple properties relatively quick and this way I am able to just call my banker and tell him I found another one and how much money I need and it's done. No more credit checks or anything else.
Post: Second purchase for new business
- Posts 8
- Votes 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $69,900
Package deal with 1016 and 1018 Warner. Both have tenants and are cash flowing over $200 per month per house.
What made you interested in investing in this type of deal?
Getting two more doors with tenants already in them.
How did you find this deal and how did you negotiate it?
Trulia
How did you finance this deal?
20 year consumer loan
How did you add value to the deal?
Cash back at closing.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Joe Russom with Baugh Real Estate.
Post: Second purchase for new business
- Posts 8
- Votes 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $85,000
This was a two house deal. Side by side 1016 and 1018 Warner. Both houses has tenants and cashflows about $200 per house per month.
How did you find this deal and how did you negotiate it?
Trulia
How did you finance this deal?
20 year consumer loan
How did you add value to the deal?
Cash back at closing
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Joe Russom with Baugh Real Estate.
Post: First closing for new business
- Posts 8
- Votes 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $85,000
Cash invested: $9,000
**First purchase for the business**
3bed/1bath rents for $900
What made you interested in investing in this type of deal?
New businesses moving in to this small town.
How did you find this deal and how did you negotiate it?
Trulia
How did you finance this deal?
Commercial loan
How did you add value to the deal?
Cash back at closing.
What was the outcome?
Rented for $900 cash flowing $347 per month
