All Forum Posts by: Steve Arnold

Collective,

I bought my first STR with a 10% down second home loan. Used a heloc on my primary residence to do it. Now I've got that heloc paid back down to zero, so I have reset my down payment engine. BUT... interest rates, amiright?

If I use my heloc again, I'd be paying 8.75% interest before I could even make headway on the principal.

But there are other factors in play as well, right? I've heard that if I use a 10% down loan, that my terms would not be as good (rate, points).

I know it's not 2020 anymore, but is 10% down still a workable strategy?

Thanks,

Steve

I bought a 3/2 on Cape San Blas, Florida about a year ago. It's done ok. But it has not blown my doors off. I'm interested in whether other CSB STR owners are experiencing the same thing? Is it just a slow year? I'm sure there's more I can do on the management side, but what's everyone else experiencing?

Thanks,

Steve

Two long time friends, trying to learn the RE business. One lives in California (he can't find a deal that will cash flow there), another lives in flyover country, where the market is much less expensive. 

The Cali guy has some money to invest, the flyover guy has knowledge of the local market where he lives.

The two are interested in partnering. They both want to learn the biz. If they partner up, the division would be that the Cali guy puts up the down payment money, the flyover guy would be the hands on side of things as they would purchase a property in the flyover guy's area.

What would be a reasonable way to distribute ownership between those two? Is it reasonable to consider that a 50/50 arrangement? 75/25? 90/10? 

We really don't know, but we'd be interested in advice from this group.

Thanks in advance.

I heard a BP podcast recently with Rachel Richards as the guest. She mentioned that she had bought a house and converted it into a boarding house type arrangement. She rented the bedrooms, and tenants had access to the common areas. She said the cashflow was really strong using this approach.

Anyone here try that? Is it as simple as just buying a 3BR house, and renting to 3 separate tenants? Are there laws limiting this?

Interested in your thoughts.

-Steve

Steve Arnold

Edit s

Sry bro. Thanks. New here. Learning my way around. 😏

I heard a BP podcast recently with Rachel Richards as the guest. She mentioned that she had bought a house and converted it into a boarding house type arrangement. She rented the bedrooms, and tenants had access to the common areas. She said the cashflow was really strong using this approach.

Anyone here try that? Is it as simple as just buying a 3BR house, and renting to 3 separate tenants? Are there laws limiting this? 

Interested in your thoughts.

-Steve