Some of the things we have done:1. dropped the rate for equity in the property2.

They tend to start doing "fire sales" which means dropping prices which causes all of the homes they closed on the previous 12 months or more to lose value based on new discounted comparable sales.That is why you see builder always offering crazy "Builder credits" which in most cases are "ghost" funds. 

He says his source at a leading information provider, tells him that their research reports a serious drop in the number of "wholesalers" out there from 90,000 in mid 2022 to about 20,000 now, in fall of 2024.

Do you have a set temperature limit?

That being said, we focus on micro units (1-2 guests max) and have no problem having our units booked every weekend with scattered weekdays.The sad thing is we used to be at nearly 95% occupancy in 2017-2019 but once everyone started joining the party and our city started throwing up tons of hotels to keep up with tourism demad, we dropped to more like 65% occupancy.Keep your head up, man!

As a result (at least in my area) most appraisers rush this process and give something like 112% value for remodel- which is utterly ludicrous, as our remodels are enormously leveraged and should give closer to 300% value.And with these ARV based DSCR programs, you need a high ARV dollar amount, or else they further drop your LTV.

We had 2.2 months of inventory in August that is up from last years months of inventory of 1.4 months back in August 2023.We also have had a nice drop in mortgage rates the last several months so I am just hoping rates stay low and inventory increases even more so that we have a lot more real estate sales this winter. 

In GA, you have to show the water company the code that new owners aren't responsible for past owners' bills before they drop it. 

@Ivana Ivanovic most Turnkey Companies took advantage of the drop in prices after the Great RE Crash in 2008-2010.While values plummeted, rents didn't, allowing Turnkey companies to buy properties relatively cheap, fix them up and still sell at a profit due to relatively high rents.Around 2016, they could no longer do this with Class A properties, so they moved to Class B.Right after COVID, they were forced to move to Class C properties.What do you think most of them are doing now to justify selling at profitable prices for themselves?

Key things this week: Inflation DataCPI drops tomorrow, PPI on Thursday—lower gas prices might cool these numbers a bit.