All Forum Posts by: Todd Rasmussen

 @Account Closed

I've never seen them need it. Typically those handrail bases are designed to not break through drywall, so plasterboard should handle it easy.

@Account Closed

I'd use a concrete screw fastener like Dewalt's Ultracon. They make them small enough to fit handrail hardware and long enough to get into the masonry.

@Ashley D Moore

Would saving the 50K be for a downpayment on a bigger personal residence or an investment property? Objectively, you should invest it. Also, as long as you don't have an exigent circumstance you should go for the longest amortization period available. It always sounds great to save interest on a mortgage by going with a shorter term, but if you factor in the opportunity cost of paying off a mortgage instead of investing the available capital and reinvesting it over the course of the mortgage repayment, those mortgage savings end up being very expensive.

@Angel Wu

We started with a turnkey provider and pretty quickly started to do it without. The only way to make it a "safe bet" is to do your due diligence on every deal, and that is important whether you assemble your own team or use a turnkey provider.

Turnkey is easier which is why assembling your own team has the possibility for higher returns.

@Jon Martin

Framing for a towel rack to attach to rather than drywall hangers.

@Christine Smith

What strategy suits you best? Go with the market that lets you start with a strategy that suits you.

@Mark Fitzpatrick

Give the buyer the specs of the place you want in Charleston Mount Pleasant. Tell her you'll trade the condo in Myrtle Beach for it along with a note (same terms she just offered you) on the Charleston Mount Pleasant area for the difference between what the two places appraise for. If it was a fair offer to you, it's a fair offer back to her.

@Logan McKay Zylstra

Cash flow is the limiting factor of most new investors so I think it gets the lion's share of the consideration, but to your point there's no beating value adds on something that will cash flow positive. Even if the equity is just on paper, it's real when a bank will let you lend against it to grow. Cash flow is still what I focus on, but I haven't ever bought something that wasn't at least a small value add. Market appreciation only investing is for placing unneeded capital for long periods of time, I'll never have enough wealth built to think that I can afford the opportunity cost of doing that.

I had this same thought but saw she had more recent posts about dealing with a tenant. My guess is she is up at least 6 figures.

@Elizabeth Seiferth

Any investment path is better than upgrading your primary residence. Sacrifice now and reinvest returns. It is the only way you will see exponential growth. Also, don't consider personal preferences when you are looking for your STR. Be objective and follow the numbers. The rewards for your discipline will be substantial.