All Forum Posts by: Mark Masiel

Assuming you were buying a vacation rental house (3b SFR), how much of a premium would you pay to get an already furnished property? I will be purchasing from overseas so it seems like an easier solution plus the low interest rates we have could make the extra cost less of an issue. Or are there "vacation rental furnishing packages" that are reasonable and make more financial sense? Looking in SW Florida. Thanks in advance to all experienced vacation rental operators!

Assuming you were buying a vacation rental house (3b SFR), how much of a premium would you pay to get an already furnished property? I will be purchasing from overseas so it seems like an easier solution plus the low interest rates we have could make the extra cost less of an issue. Or are there "vacation rental furnishing packages" that are reasonable and make more financial sense? Looking in SW Florida. Thanks in advance to all experienced vacation rental operators!

I know most people run from Condo investments, but looking at Florida with rather high insurance rates I am wondering if they are worth a look. With the HOA's covering outside maintenance and some insurance, I would think your calculations would be much different than your typical investment.

I was wondering if anyone has a recommendation on how they calculate expenses when their HOA's might mean you have less CAP EX, etc. Thanks!

I just received a quote of 15 percent of gross rent for property management in the Naples area and it was claimed this was less than the usual 20 percent. Services includes:

" marketing rentals, lease structure, collecting the rent, and being on call 24/7 for rental emergencies."

Is this a normal fee? I was expecting 10 percent.

Originally posted by @Ben Leybovich:

Hell with Peru, @David Krulac - Ohio, baby!

:)

 I live in Peru. You can't afford it, trust me. 

Originally posted by @Nick Patterson:

Get a multi-family property of 5+ units

Banks will lend based on building cash flow not yourself

Now is the time to always buy, as long as the numbers work

Is this hard to attain if you don't have any rental or investment experience? Also, if you decided to get a 5+ multi family could you keep one unit open for yourself or does that change the loan process in any way? 

@Brittany Villamil 

@Account Closed 

My understanding was that Brittany has student loans and had saved 22k. My savings account gives me just about zero on interest which would be less than savings loan. I absolutely agree with Chrystal about leverage so if thats the plan, great go for it.

We are still talking about such a low amount as far as the student loan goes-4800? I would think paying it off would be better for your credit rating and I personally would get it out of the way. Technically though, yes you are all correct about using the 22K to gain more cash flow than the loan costs in interest.

You have 22k in savings yet you owe 4800 in student loans? Any reason why you don't just pay it off? That would be the first step financially I woukd take. 

@Account Closed 

I agree with you that we should understand the tools we use but I also believe a tool can be educational as well.