Hi 🐠s - Happy Friday..!! We came across a short term rental/airbnb suitable investment property that sits in ~4 acres near Asheville, NC. Also, property is old (early 70’s) with a private septic system. As we are new with investment properties, would like to get suggestions on any points that we need to strictly look into before moving ahead.

Also, does corporate leasing for 3 yrs generating ~600/mon cf is suggested or managing self Airbnb is suggested? TIA.

like
Posting as :
works at
You are currently posting as works at

Corporate leasing for 600/Mon cash flow is going to be a lot more passive. Self managed ABnB is going to be more active but theoretically higher profit margins. Personally I would do the corporate lease

What are your investment costs? $600/month sounds good for a LTR, but curious what you will have to put into it to know if $600/month is a good return.

What are the potential expenses vs projected income for the STR? Will you be remotely managing the property or will you be using a property manager? If so what are the fees?
LTR is obviously less revenue with less headache. STR you make the income in 3 months what you will probably make in a year in LTR.

STR - you will need to buy STR insurance which is in addition to home insurance which is typically responsive. STR - you will have more maintenance and higher utilities. Liability will be higher with STR
AirBNB provides you 1M coverage but you will still need to consider additional liability coverage

Definitely ask that the septic system be pumped prior to closing, and have that sh** inspected. Maybe check out some podcasts on short vs. mid-term rentals to help decide on that front.

Related Posts

I bought $150K bells worth of turnips this week and the price just keep dropping. Anyone have good turnip prices on their island today? Pls save me from financial ruin

likefunny

When you stake ETH on Kraken how long is it tied up for? Right now it says I can’t unstake it.

like

“It turns out that wealth does trickle down, you just have to make them bleed first”

I guess they didn’t like bleeding so they’re trying to manipulate the markets in their favor AGAIN.

Post Photo
like

My wife and I are currently sharing one vehicle and considering purchasing a 2nd car, most likely Tesla Model Y. Tesla lowered rates from 2.99% to 2.49% 72 months. Is that considered a good rate? Has anyone else went with another auto loan? Also thinking about buying a 2nd home. Would financing a car before buying a house have any major impacts? I have a credit score at 794.

like

Gonna help my 16 year old sister get a Roth IRA and learn from my mistakes of not starting early... Should we park it in a target date fund or index fund (VTWAX or the like) ?

likeupliftingsmart

Best place to get pre-qualified for a mortgage?

I have some collections on my credit report. One from an electric company for $800 (imo they violated terms of contract and sent me to collections in spite of their fuck up), and an apartment for $80~ that charged me a cleaning fee when my apartment was spotless.

Despite these two collections have a 712-720 credit score.

So mortgage lenders care at all about the collections or is it mostly the credit score that matters?

(cont)

like

Been looking forward to the stock market to come back to earth for a long time. What should I buy

like

Found a bed bug in a Radisson Red in Campinas Brazil, how many points?

like

Do you add periods at the end of bullet points?

like

Is this the official Amex Fishbowl?

Do you have a prenup? What does it involve?

like

Reporting your shares to independence reporting. Do you guys actually follow through and not trade restricted stock? If you have a separate brokerage account, what’s the risk? At what level does it matter (manager, senior manager, etc)

like

Hi fishes,

Please help me find out my take home salary and how to save maximum in tax. I am really new to this tax regime and not aware how to save taxes.
Please help.

Post Photo
like

KPMG India KPMG India

I received an e-mail subjected "Balance Summary" from notifications@thanks.com

It shows 1000/- in my account that I can use for shoping.

Does anyone have any idea, from where does that money came? and how can I utilize that?

Thanks!

KPMG EY Deloitte PwC

Client's budget is around $300K and would like an apartment on the East Coast / New England. Thoughts on if this is realistic?

like

Currently 25 y/o making 70k/year in Boston. I grew up pretty poor and I have minimal financial education. A lot of my salary now goes towards helping my parents get out of debt. My parents are no longer able to live on their own, so considering selling my grandmas house where they live (maybe 550k), paying off their mortgage (100k) and buying a duplex (between them they make about 55k/year). Is buying a two family home a good investment ? How much can I afford to spend on a new house?

likehelpful

Hi all,

I am an IT professional having almost 5 years of experience and want to move to Canada for PR. My CRS score is not upto the cut off. I need someone who can help in earning connections points for Manitoba PNP program.

As it allows having an acquaintance or a friend to earn those 20 points, it can help my PR application.

Anyone who is PR and resident of Manitoba can dm me to discuss around it. I am ready to pay for this assistance as well.

Hey all, deciding between two properties in Miami for this weekend - W Miami or the JW Marriott (not marquis). The W is about $325/night all-in while the JW is 40k pts/night. Which one is better?

like

What things do you do at your company that actually helps improve culture?
Bonus points for remote activities 🤗

like

FYI Amex offer for Allen Edmonds. Spend $300 get $90

like

More Posts

Anyone has an alternative to an Au Pair. Wife and I were looking forward to host an au pair but can’t go through the official program since we are not permanent residents yet. Anyone has an alternative besides traditional daycare? Maybe a friend of a friend? I am in NJ. Any ideas welcomed and needed!

like

thinking about making the move to Havas, I’ve heard they’re making a lot of changes and restructuring. Trying not to base my decision off of all the rumours. Any thoughts from current employees?

like

Where did you get your leather briefcase/satchel? What are features you will be looking for in your next one?

likefunny
like

Those with a part-time MBA was it worth it for you? Did it help to have as a “backup” ? Any regrets from those who went through the part time route?

like

Hourly rate for freelance Sr Designer in NYC, any ranges?

like

Anyone hiring for a PBM with 2 years experience in Chicago or Los Angeles?

Looking for a good recruiter in central to puppet Florida...anyone have any one that they can recommend?

Anyone working in Pune?@Stefanini

like

If you’re an attorney and someone asks how you are and you respond with: “Living the Dream”. Please stop.

likefunnyhelpful

ZS 🐠 - can you receive sponsorship for MBA prior to having tenure of 3 years? If not, what is the downside of applying after 1 or 2 years? I am coming in with 3+ YOE in consulting, so my application would be competitive for next fall (or ‘23)

like

Wondering what people think about my situation. I’ve been offered a role with a company. The job description didn’t mention college degree as a requirement. On my CV I have a section listed as “Education” and under it I have “Business Studies” with the university name and the 3 years that I attended the course (2.5 to be exact). It’s a 4 year degree and under this I have my High School equivalent with the years I attended there. The education wasn’t mentioned in the interviews. Continued below.

like

Does PWC dubai offer mobile phone as an IT asset to senior associates?

like

What to expect in the Director Round at PwC?
Round 1 and Round 2 were technical rounds. Director is Round 3.

Thanks in advance !!! PwC PwC

like

I purchased a bell ringer journal that I want to print out and bind (I don’t have have my own binder machine yet any ideas on how to print out and bind for 150 students without having it cost a ton?

Does FIS offer onsite! If yes, what are the approvals required?

like

Any tricks to help with understanding EY Atlas and finding information ASAP? Haha, I always feel clueless and sometimes feel like the guidance just go over my head

like

Hi fishes, do qualifications like B.E, BCA or BSC decide the CTC?

like

Hi Fishes,

Can anybody please help me out with the market corrected salary of Associates in PWC India (Tax Tech Stack).

like

How is utilization calculated? What happens if we are on the bench?

like

Additional Posts in The Real Estate Bowl

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

How can I invest in real estate ? Looking for an additional passive income source

like

Now that the rents are going higher and housing is not affordable. With wfh option is it good idea to love to ranch with house?

Anyone here invested or opted as primary living place outside of cities?

Cheers

like

Is it okay to buy a home worth 660K for a couple earning 325K TC together? The HOA and taxes for this home bring the monthly payment up to ~4.8K which is ~32% of our monthly take home after tax…we’re first time home buyers, any advise is appreciated!

like

Hi all - any advice for a first time real estate investor looking to make their first purchase at the end of 2021.

I plan on saving $50K, for a $350-400K property in the Long Island, NY area for my first property. Does this sound reasonable? And does anyone have any experience & advice investing in the LI area?

Id like to rent it out for some positive cash flow that I can then start using to save for my 2nd property (sounds easy when I type it).

Thanks all for your input - stay safe!

like

What do you all think of fundrise and start engine Real estate Reit ? Any experience? Would you invest here if you didn’t have the time to actually buy and rent properties? Any insight is welcome.
Thanks

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

Happy Holidays fishes!! I would love to hear some thoughts here..We bought our first home last year for 316K ( starter home) in MCOL city. The value is now over 400K and I have an equity of over 150K. We are thinking of moving to a different state.Should we rent this place ($2400/month) and with recent refinance my mortgage will be $1600/month(inclu pay all) or sell it to pull out equity for the new home in a different state? FYI: we have over 100K in cash to down payment.

like

Current Tenant Rent: $1075, Monthly Payment: $400 (with property management), Initial Repairs: $2-5K, Down Payment: $12K

At surface level, do these numbers check out?

like

Planning on Arizona, Phoenix area. What is the best today, purchasing a home or building?

like

If I’m a Real Estate Agent buying my own property, can I negotiate the Buyers Agent commission to be 0% instead of being paid the buyers commission? Essentially converting what would be Income into Cost Savings for tax purposes?

like

I'm early in my career, managed to save $30K to invest, and want to get my hands dirty with a rental property without too much risk (e.g. no HML/flipping). It sounds like that's a tall order in the NY/CT area given the prices, not to mention whether I'd be able to get a mortgage on anything below $100K, but I figure I'll give it a shot anyway. Any advice on what you might do in my position? Am I being crazy with this idea?

like

Would you pay an extra ~$100/month on top of existing monthly PITI for access to $65k in equity from your home? Want to use it for either A) down payment on new primary or B) net new investment property and see if that can fund the next primary

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

If you living currently in a home and looking to buy another home but plan to put only 10% on the new home, can I pay the remaining 10% after selling my existing home in 1-2 months .. and get the PMI

like

Does buyer have to share appraisal with seller? Can seller request it?

like

How did you decide where to live? Have a young family, working remote, and currently living in a city. Looking to move to the suburbs but a bit overwhelmed with the number of options. Also struggling since we don’t live close to family and don’t like the areas family members currently live in.

like

Has anyone made a property purchase using sheriff sales? Can you shed any light on the process or share tips or resources?

like

Looking for 2bd or 3bd with garage rent of $2,000-$2,200 ready to move in after July in the Orlando,FL area if anyone has any info. Please let me know! Thank you!

like

What rates are people getting for condos? I’m thinking about selling my condo (I had 3.25%) but my realtor said that the rates are so high now that if I were to buy a similarly priced place, the monthly payment would be like $800 more. I’m bad at math, so I wanted to ask here to confirm this is accurate. Mortgage is around $700k

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal