All Forum Posts by: Melanie Sumner

Colleen -- "Things you spend money and things you don't...."  Exactly what I'm looking for.  Hate that I would need to replace the sleeper sofa - I want to get leather because it has worked best in my home, with kids and pets, but it's an investment.  Yes about the bed linens and kitchenware...  I know I can go local, funky, and inexpensive on the smaller pieces and art.

Thanks Mag and Erin.  Wayfair is one of my shopping places, and it's great to hear numbers.  My place is 1100 sq ft.  I was thinking $5,000, but maybe I can get down.  The sleeper sofa, washer/dryer, and mattresses are my big expense items.

Thanks, Luis. I looked up the IRR link. I am also shopping around the internet at some of the places you mentioned.

I am purchasing my first property, a 2 bdr/2 bath condo in Taos, NM, walking distance to town. It's a nice place, built in 2005 w/ vigas, fireplace, radiant heat tile floors, enclosed courtyard, but no view.  I plan to live in the condo in four years, but I want to do distance (I live in Georgia) short-term rentals until then, managing them on VRBO, etc...  I'm thinking I could probably rent it for an avg. 90.00 - 100.00 a night.  

I want to use higher-end furniture and linens because I want to use it myself a couple of times a year and eventually want to live there.  I've heard that tenants will take better care of nicer things, and take better care of things if they pay a higher rent.  Do agree?  

At the same time, I face a lot of costs with this purchase, and I don't want to overspend on furnishing.  If I lived in the area, I would have time to shop flea markets and find bargains, but I will only have a few days to set it up.  I have a few pieces I can bring, but I still need mattresses, linens, a sleeper couch and chair, kitchenware, a rug, end tables, and lamps.  What is a reasonable amount of money to invest?