All Forum Posts by: Andrew Kubik

Single family homes have more maintenance issues and condos you have to deal with the HOA. If you're planning on doing out of state investing, I would recommend a condo/townhouse. Otherwise, pick your poision. Best of luck in your endeavors!

Vacancy is the largest cost that is often not considered.

Additionally, property taxes may go up after a sale. 

Welcome to Nashville and the Bigger Pockets forums! I moved here 3 years ago and haven't looked back. Nashville is a great community. 

Welcome to the BiggerPockets forums! Glad to see you're getting started. 

Not controversial at all! 

If you're locked in at a low interest rate, it might be worth keeping. You'll get pretty good depreciation when it comes time to do the taxes. I expect inflation to remain sticky, so eventually you'll be above water. If the interest rate is on the higher end, then I would cut my losses and sell. Obviously, there are many factors. This is just one thing to consider. 

This is going to be specific to your contract. I suggest reading it over and weighing the pros and cons. The new property manager might also work with you if they can get both contracts. If your relationship with the old PM has soured, they may work with you to cut the relationship for less than the contracted price. 

Thank you for sharing! It's impressive that you were able to find this deal with very little capital. It gives hope to all of us! 

Hey Paul! Your portfolio is something that many people desire. Congrats! I cashed out a portion of my retirement funds to get into real estate. Even though there were tax implications, I think it will serve me well in the long run. That being said, a 401K match is an automatic return of 50-100%. I would have a hard time giving that up. Additionally, your retirement accounts offer some protection from potential lawsuits. Might be a good idea to keep some money in retirement accounts. Inflation will always eat away at the value of the dollar, so 10K a month won't provide you the same lifestyle in 20 years that it does right now. You're in good shape anyway you slice it! Just playing a little devils advocate. 

Wow - having one of the only water front properties in the area will be awesome! I bet your property will do well. I would make sure you have all your licenses up to date. I would start out by only opening the first few months to see what hits. You can then adjust the pricing in the summer to make sure you're maximizing your revenue.