All Forum Posts by: Marc Shin

@Jules Aton are there any good places to invest in STR's in the Balto/DC area? I heard Baltimore only allows owner occupied STRs..

@Jules Aton you're in the DC area?   I'm in the Nova area!

@Mike Kirby may i ask what type of STR you have? is it large or small? vacation rental? $100.00 seems like a lot, but the way you described it makes sense to me..

@Nathan Gesneris it ok to ask prospective guests for photos of their pets prior to them booking?

What's a fair amount to charge for a one time pet fee for an STR stay? Is $25-$50 per stay fair?

Question regarding subject to.  If I were to purchase a property using Subject To, how would I go about making the mortgage payments on the property without the lender finding out that that the property has been sold Subject To?  Do I make payments to the previous owner and then they continue to make their mortgage payments?  Or do  I need to login to the previous owner's lender account and make the mortgage payments online?   It seems like as soon as i start making the mortgage payments on behalf of the previous owner, then the lender would immediately find out and the implement the due on sale clause immediately.  Looking for some insight here. THanks!

@Mike Kirby thanks!!

I'm looking at properties in Florida for STR's. The area I'm looking, most of the homes have septic tanks. Should I stay away from houses with Septic tanks? Is it a big risk to buy a home with a septic tank?

-Marc

I posted my property (1BD/1BA) on Facebook marketplace and I received a few inquiriies.  How do i go about screening these prospective tenants from FB marketplace?  and what tools do i use to perform background checks and credit checks?

NOTE: I posted this in another BP Forum, so if it is not allowed to post this here, please feel free to delete this post. TIA.  

Hello. I found a 2 bed 1 bath with an assumable mortgage of 5%. The location is good, located within 10 minutes of a major city. The property was built in the 70's. I'm eyeing it as a potential STR play. The property will cash flow as an STR, but will lose $100-$200/month as an LTR, and I'm ok with that. My concern is that the property has been sitting on the market for 80 days. i live out of state, and I wonder why the property has not been snatched up already. Is there something wrong with the property that I'm not seeing? I like the fact that it has an assumable mortgage with low interest rate, and low downpayment ($16K). But I don't want to get suckered into this property just because it's a low downpayment with assumable mortgage. Should I be concerned that this property has been sitting for over 80 days? Should I move on to something else?