Agreed- with a long term rental you can be very clear and upfront about all the nuances/quirks of the property and what is included because the transaction has far more direct communication.

Hi Jessica,I think there are dozens, myself included, and many who now have construction loans outstanding.

Expenses: What are the operating expenses, including taxes, insurance, maintenance, and reserves?

I want to refurbish the entire house, including a complete kitchen and baths renovation, add an addition on the east side, new roof and siding, new flooring everywhere, paint inside and out"Then ask the GC to go over and put this into a more formal document.

Areas close to BlueOval City will likely see an increase in housing development, including single-family homes, apartments, and short-term rental properties for contractors and temporary workers.

Review the quality of the tenant base (do they have a history of paying on time, what were the original screening criteria, do they have applications on file).

As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial intereststransferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to purchaser.If all or any part of the Property or any Interest in the Property is sold or transferred

You have a “full” package including property(s) identified, acquisitions under contract, appraisals performed by MAI appraisers, historical financial statements, pro forma projections, surveys, title reports, feasibility studies3.

The rate cap in January is currently priced at $747,000.The Capital Call funds will be used in the following ways:1) $4mil is being used to pay down the loan.2) $175k fee to extend the loan for 1-year.3) $2.247mil to cover interest rate cap extensions for the remainder of the hold period, including $747k for the January 2025 6-month interest rate cap purchase.4) $1,000,000 in reserves to prepare for additional extension fees and cash reserves.

One of the big benefits of buying the whole thing on a fixed rate loan is that one of your major expenses is fixed for a long period of time, including the cost of the land.