All Forum Posts by: Michele Perdue

My daughter is an interior designer starting to get into this part of designing. Reach out to her, see if it can be done remotely....

Megan Paterson Interiors

I haven't listed yet so haven't been on site, but watching youtube videos, people say you have to have your own rental agreement with VRBO. Is that not true?

Does anyone have a really good agreement they would be willing to share? I have tried to find a local lawyer to draw one up but they don't seem to understand what is needed.

Thank you in advance

I'm looking at buying a condo on the beach, but not sure how to calculate to see if it's a good deal or not.

The DSCR loan is interest only for 5 years, 30 year fixed, 4.5%

HELOC is 4.5 amortized (payment is 1% of money borrowed). Will need to borrow roughly 90k from it for down payment and closing costs.

If I do a cash out on first house, I will be able to pay off heloc ad also have enough left to buy another house with another dscr loan.

I'm pretty new at this and trying to decide which path to take forward. Just bought a home with 1031 trade, owe nothing on it, it's worth about 340-350k. Will rent out for 2150 a month. Also under contract for another home. Paying 304k with DSCR loan (interest only, pmt is $1150) and down pmt from heloc (80k @ $800.00 a month). It will rent for 2300 a month. Should I just hold steady and put most of this money (from house 1) into savings to buy another or should I cash out on 1st house's equity, pay back heloc and use the rest to buy another property?