All Forum Posts by: Tyler McDonald

Thanks for that.  They are also offering a personal guarantee by collateralizing future revenue form their various short term rentals.  Thoughts on that instead?

Hey all! I've got a chance to lend to someone for a rehab project. They would like to use a different property (a well performing STR) as the collateral due to the renovation project being a rental property that is on the same lot as their primary residence. I would be taking second position on the STR property if I proceeded.

-Are there any issues with a loan for property 1 being secured with property 2? 

-Also, how would I go about securing second position, go through a title company?

We use a property manager for our properties and they do physical sign and post to the typical sites, nothing fancy.  Never staged anything but never really had trouble getting a tenant.

I read the book in a day and we are looking to move out on an STR in the near future. Thanks!

@Queena Brosas welcome!  I'm in the Navy also and love snowboarding too (although I don't get to do it much these days!).  Great work getting started!

I'm still a newbie here but have listened to 100+ episodes and will certainly miss hearing Brandon!

Welcome!  Good luck in the journey.  

@Corbett Brasington thanks for asking the question. I'm in a similar boat and it seems like delayed financing closing costs are the same as a cash out.  My biggest problem was finding a lender who even know what delayed financing was.  Once I did it really doesn't seem any different than a cash out except that you can only pull out the original purchase price.

Can’t wait to read it!

Congrats!