Apr 23, 2018
#126: It's time to answer real estate investing questions!
Tom asks:
"We're thinking about buying a duplex on a beach in a popular
vacation destination in Florida. If the property stays 85 percent
occupied as a short-term (VRBO) rental at current rates, the income
from one unit of the duplex could cover the costs of a 30-year
mortgage.
"But if a recession hits, Florida real estate might tank. The rental rates or occupancy could drop. And we'd be stuck paying the mortgage out-of-pocket, which means we might not be able to retire. Should we take this risk?"
Rachel asks:
"Would you consider purchasing a beach house? Also, would you
consider buying out-of-state?"
Alfredo asks:
"I own a couple of rental properties. I have to admit, my personal
and business funds are completely co-mingled. I'm trying to
separate these expenses, but it's a mess. If I hired professional
help, how much might I pay?"
Anonymous from the Northeast asks:
"I'm gathering friends to invest. We live in the northeast, where
home prices are expensive. I'd like to invest out-of-town. They'd
like to invest locally. What talking points can you give me to
convince them to invest out-of-state?"
Mitzi asks:
"Could you please explain the 1 percent rule-of-thumb around buying
a rental property?"
I answer these 5 questions in this episode. Enjoy!
For more information, visit the show notes at http://affordanything.com/episode126