Last year one of our lenders would not lend to new customers or customers who have never did a commercial loan with them.  

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $250,000 Mortgage Amount (80% LTV): $200,000 Equity: $50,000 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop from 6% to 5%Monthly Expenses: Mortgage Payment: $1,074 Property Tax: $260 (4% Adjustment from last year) Utilities: $309 (+3% Adjustment) Insurance: $104 (+4% Adjustment) Vacancy: $105 Repairs & Maintenance: $105 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $1,957Rent Income after 12 months assuming annual rent increase at 5% : $2,100Cash Flow: $143 per month 😊Year 2 Return on investment $2,951 Principal Paydown year 2 $20,000 Property Appreciation (assuming 8% per year) $1,720 Yearly Cash Flow (this will increase as rents rise) $50,000 Initial Equity Total Gain $74,671 with just $ $22,789 remaining in the deal. 

So far, I was thinking of having them send me their whole credit karma, send me their last paystubs, and send a landlord to verify renter's history.

I have a feeling Florida will catch up soon after these last storms. 

Thank you for sharing this Michael.John is spot-on about what a quality human being Quincy is and what a great role he has played in building the self-directed investment industry over the last 20 years. 

With that said, I have personally seen a lot of activity in the last two weeks.

When is the last time you did a walk-thru (highly recommend taking a video!)?

Our net worth is 4mil so our CPA asked us to move them in LLCs last year.

The home you saw listed with the $339 HOA are the townhouses that were built last year.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.