All Forum Posts by: Shawn Pennington

@James Gates great job! Very inspiring!

is there a location set yet?

Sent you message to your inbox. Thx!

Greetings! I own a property at 3059 Beach Palm Ave Kissimmee, FL 34747 that I am looking to sell as I continue to relocate my equity to Nashville.  The home is located In the Paradise Palms resort community...4 bedrooms, 3 bath 1902 square ft. Townhouse with lake view. Two recent comps of exact same house with the lake view are $235k & $225k. Fully furnished.  This property is the highest rated property in Paradise Palms on VRBO vrbo.com/449955 (out of 300 units on VRBO) and will gladly transfer that VRBO account to the buyer if they wish to maintain the rating.View Pics Of Home Here

Count me in!

Check out BP Podcast Ep# 75....all about Mobile Home Investing...its a great listen!

I haven't had a problem with this ( I own two in Disney area)...but I think it might depend on the strength of your bank relationship, and/or finding the right bank...The first property I bought with an unsecured loan (yes unsecured!) because my bank in TN couldn't conventionally mortgage the property because it was considered a "condo" (even though its actually a townhouse....... I have such a great relationship with my bank that they just gave me the unsecured loan to buy the property....I bought at the right price, it appreciated a great deal in short term...and then while looking for my second property a few months later I got referred to a bank in the Orlando area that "gets it!" in terms of vacation rentals..... they refinanced my unsecured loan, I was able to pull the added equity out of it from appreciation and use towards my downpayment on the second one, which they also put a conventional mortgage on without even thinking about it...cause in my case they understood that obviously the vacation rental business in Orlando is huge......

I just sent this reply on another thread.....so forgive the copying and pasting :-)  But felt that it applied here as well...and wanted to save a minute of my life in retyping LOL haha :-)

"I own two in the Disney area, and both perform VERY well for me.... that said, the first one i paid $225k, the second one I paid $140k.....the math is light years better on the $140k...less interest, less HOA, less taxes etc etc etc...I netted literally 4x as much last year on the cheaper property. If the first one wasn't "our" house, i'd sell it and use my equity to buy three more cheaper properties..... I intend to buy at least one a year down there.... IMO the vacation rental business is Disney specifically is recession and weather proof......people from all over the world come to the Disney area every year, in fact probably 50% of my renters are foreigners...so its not dependent on the US economy........ and its far enough inland that hurricanes and such really aren't a concern.........

I do all of my own bookings/property management from Buffalo!! I have a husband/wife team that do my cleanings and maintenance for me...use VRBO for my bookings....and Ive got a lot of things automated, use templates, etc.....i spend maybe 30 mins a day on the whole business...maybe.....

Im a huge fan of that market"