All Forum Posts by: Stephanie Southerland

 Thanks for commenting, How would you suggest that I make my case? I have my experience to back up myself as a risk, however, I suppose the market data over the past 14 years may help, along with the strong employment base of my area? Would you suggest that I put some kind of report together? I feel like I am wasting my breath when I get on the phone with lenders when they don't want to dive into a specific market and rule out all rural markets. As an agent and an investor, I want to provide safe and affordable housing, and it's much needed in rural as well as in metro areas. 

 will do, thanks!

I typically use a hard money lender for something like this, however, as I mentioned in another reply, they are running short on return of capital to keep it flowing right now due to builders not able to finish projects quick enough. Some lenders that do bridge loans are getting out of rural markets, but I definitely need to find a lender specializing, in the purchase and rehab funds where I can refinance after renovations are done. Some are now only doing 60% LTV and some are pulling out of markets like mine. It's strange to me because we didn't get hit as hard in our area in the last downturn because we never were as inflated, and it's just like that still. We are a very stable market. I definitely agree that lenders in our own state, or states like Arizona with spread out towns and cities will have a better understanding of our driving market forces. Thanks for the input. Who do you recommend?

 No, this one will be a long term rental. I am looking to rehab and rent out and then refinance. I have the refinance part figured out, however, my normal hard money lender is low on cash right now due to construction taking longer and the capital returns aren't coming back as quickly as usual. Thanks for weighing in, if I do need vacation home financing for something else, in a market like that, I will keep you in mind. :)

Looking for Bridge loan lenders for fix and flip or Brrrr properties. Some lenders are pulling out of 'rural' areas either completely or requiring up to 40% down, and I am wondering if there are any out there that specialize for a more rural type of market? 

@Fawzi Mudawwar , I think it's a great idea, and as a Realtor, understanding the capabilities of Supra Key, this makes total sense. If I implemented something like this in my storage business, I would be sure to have in writing to each tenant to ALWAYS have their physical key on hand in case the system is down for any reason and they have to manually unlock their unit. I think the monthly subscription fee could be charged back to the tenant, and I only have 24 units at this time, but if I had a really large facility, or multiple facilities, I would just start implementing the system little by little to offset the costs over time most likely. We are not large enough to have on site management, so this would be amazing. Apparently from other comments, there are other companies doing this at scale, but a little competition for those companies is always good!

Zander Kempf, not true, I work with buyers who obtain traditional financing, conventional, FHA, and even VA loans on manufactured homes, all the time.

funny that I just ran across this, I had a site made with this CRM too but have not had the chance to really start using it yet. Would love to hear the feedback as well!

Oh man! My flight in from Idaho arrives at 6:30 at Mesa Gateway so I can't make it but was excited to see this. Will you be planning more events?