Compare Loan Terms – Ensure their rates, fees, and terms align with your investment goals by getting multiple quotes from other lenders. 3.

I have seen it but its very short term and you are still going to need considerable funds to refinance out (6-9 months reserve etc.).

Especially of investors that purchase multfimalies and run a short term rental business through them.

Melisa Justice, and she helped me navigate the entire Journey, it was a process not too long, it took about a month, and the process would have been definitely very hard being that I was on a different state by Melissa made it a lot smother, she was very responsive to all my questions (and I had a lot of questions), she helped me find a lender that would fit better for my financial situation, once I was pre-approved she connected me with the right property inspectors, and all through out the process she kept in touch pointing me the right direction all the way until closing day, all this to say I Definitely recommend her for any body the is finally ready to take the plunge and get started with their real estate carrier, I definitely will get in touch with her when I'm ready to buy my next property!

I'm m focused on staying disciplined and maximizing cash flow, so your suggestion on BRRRR and DSCR loans is especially valuable as I plan my long-term strategy.

They get the deed at the end of the term. 

But if you are operating a single unit, realistically how long can you wait for that tenant to be caught up?

I agree with the other contributor that it’s better to own a $1M asset that appreciates 3% per year that pays no cash flow (over the long term) rather than a $100k asset that appreciates 3% and pays $300 a month in cash flow.

My preference would have been for AB1482 to have specified how long the unit must be off market (example 12 months), but it does not.If the units need rehab and you are planning on rehabbing the unit, this would be better rationale unless you truly plan to keep the units off market for an extended period of time. 

How long does this period last in New York, and how does it impact the auction?