Inventory situation is another key element.

It can be done but each situation is specific and would be underwritten to see the risk and what the exit strategy is. thats the key with shorter term loans - understanding what the borrowers exit is.

Your property manager will play a key role in this team, helping you maximize occupancy, maintain the property, and ensure tenant satisfaction.

My PM is key to my success.San Diego Condo: This is your biggest concern.

@Diogo Capela can give a more detailed view on some of the legal adventures we had with this property but, to summarise, my key learnings from this deal to date: 1) Get confirmation that the entirety of the property is on the Camara (town hall) plans and fully legal.

If you're willing to be more active, purchase a property or two in an area you personally know well and have key contacts (handypeople, contractor, lender, etc.).

Setting up multiple banks to do business with is key IMO.

Key Deal Points:Loan Amount: $88,000Lien Position: 1st position Purchase Price: $120,000Appraised Value: $250,000Interest Rate/Return: 11% annual returnTerm: 5-year balloon (meaning the entire principal and interest must be paid at the end of the term)LTV ratio: 35.2%---Licensed Lending company for contractsRMLO package completed on buyersServicing company for payment

This is why I prefer the cash-for-keys approach.

And if you build it the right way, you can always fall back on the long term rental strategy here too.Location is always key here.