Qualified applicants that get priced out of rapidly improving neighborhoods will move into these areas but it seems like they aren’t biting.High quality, lower income applicants aren’t stupid and they won’t settle.If you think this area is a losing proposition, I would think about selling and not banking on hope.In regard to vacancy, I don’t consider any area that has average occupancy (economic and physical) below 95%You might pay more for a better area but time will treat you right and you’ll make a ton of money in equity over the long term.

Hi Jaycee, I did barrow from a local bank, this is my third property with them.

My attorney told me in 30 yrs he has never seen bank enact due on sale clause but he has seen multiple landlords get sued without LLC protection.  

I've seen some pretty killer terms for foreign national Canadian loans from RBC bank, if they can meet traditional income qualifications.

PreREO made 2 unauthorized attempts to access my bank account to withdraw funds that were over and above the monthly interest payments.

“ cash flow returns” almost always compare horribly to a simple bank CD after you deduct for insurance, prop taxes< vacancy, capex, prop management (or your personal time.) etc etc etc. 

@Kyle TrotmanI would suggest speaking to local banks, and credit unions.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

No lending institution or bank would be permitted to operate with those ratios.

The reason for this email is that we need to schedule a call with a representative about our direct deposits to our bank account, we keep having the same problem every month.