All Forum Posts by: Salwa Arafa

Hi Craig! I did a cash out ReFi on a Condo here in Cinci OH and the property wasn’t rented so no leases. The underwriting asked us to date and sign a letter stating how much we were planning to rent the property for. Depends on the lender. Hope this helps.

Thank you, Jay!!

Thank you!!

Thanks for replying. Contract termination and EM release

Happy Sunday BP fam!

Can any one recommend a good RE attorney in Orlando, FL? I am out of state investor and I’d truly appreciate any help I can get.

Thank you!!

@Timur Salikov this looks awesome! It does look like a lot of work but congrats!

Thank you everyone for all the helpful tips and recommendations so far! Any feedback (positive/negative) on condotels in Orlando is much appreciated 

@Wayde Hall I did reach out to them again as soon as we found out it’s a condotel. They don’t require the use of their property management. They were upfront honest as their management splits profit 50/50, the lady we spoke with advised to self manage or find a PM. 
once again, thank you for the book recommendation. I am half way through it already. We had a hiccup during financing; in short neither I nor the lender were aware that it’s a condotel until after we started loan application and conducting condo questionnaire . Fannie Mae/Freddie Mac don’t loan on those. So I had to find another lender. Had I read short term rental long term wealth a month ago, I would have known better and saved time 😃

Great point! I will do that. Thank you so much!

@Devin James Devin, thank you for the heads up! It's a condotel and a couple of of other condos in the same building are on Airbnb. I reached out to the HOA there as well to make sure I am allowed to list on Vrbo or Airbnb. Anything you recommend that I need to double-check?