My name is Jay I'm excited to join this platform as a new investor based in Charlotte, North Carolina.

I’m based out of Lehi, Utah, and have always been fascinated by the potential of real estate to create opportunities and build wealth.After spending time learning about the industry and what it takes to succeed, I’m ready to dive in and start making deals happen!

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

I'm SURE you mis-spoke and meant to say, he's a close friend that I am trying to help but it was not my intention to "fix his credit".Debt Relief and Credit Repair Scams"The FTC has brought scores of law enforcement actions against these bogus credit-related services, and the agency has partnered with the states to bring hundreds of additional lawsuits"SOME CASEShttps://www.ftc.gov/news-events/topics/consumer-finance/debt...Financial Education Services (August 5, 2024 )Panda Benefit Services, LLC., FTC v.

They're coincidentally based in Boston, too.Good luck!

Nightly rates and estimated revenue based on all the other units in the area?

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow. 

On a commercial asset the value is directly based on the NOI (net operating income).

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

If it’s a good deal based on the comps, and in a good location, then I’d look into a conventional loan and maybe putting a little more down so that it cash flows.