All Forum Posts by: Seth Vendelboe

 I have a manager over 30 years experience.  I am also licensed in the state, and have many deals done over the past two years so experience I haven't run in to an issue with any lenders so far.

 Thank you, I see your information will send email.

End of July 2022

 It is not, rehab is being done on the last two units expecting to complete end of March.  The last two units we rehabbed upon completion had tenants within 2-weeks so occupancy shouldn't take long once they're done.

 Unfortunately this property wouldn't get to a $250k loan amount, more like $225-$235k.  We have cheap properties where I am at lol so it's a good thing in that aspect, but bad when financing.

 I take it you can't do this?  Good to hear either way!

 1.5 years ago.  Credit score shouldn't be an issue.

I have a 6-unit complex (not in Detroit, MI) I am looking to pull cash out of. I purchased this property and have completely rehabbed it, and looking to pull out cash. Would prefer to go the DSCR route, or something showing lease agreements. Property is owned in an LLC w/ one partner.

@Jonathan Greene yeah I agree with everything he says, I mentioned the website though as I’ve found a listing near my location that’s done well and uses that website service. I have actually received and reviewed the data from the seller, and it aligns with what the site posts. It’s not the area I want to purchase in, buts it’s close to me so I went to that seller first to get information. I agree with your statement in finding a superhost though as I’d rather go that route than a website as it’s more than likely just a “lead” service for these super hosts.

@Zeona McIntyre thank you for your reply. Have you seen the site “evolve” for short term vacation rental? This one states 10% management fees so I thought that was very reasonable but they have apply for your “area”. I have not reached out to them yet, but think I will do so very soon.