Cheers to closing out 2024 strong and moving into 2025 with intentionality!

If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

If you’re weighing a move.. be it a 1031 exchange in Oregon or locking in a promising rental in Phoenix.. just remember that the right local knowledge, strong relationships, and a willingness to adapt can set you up for something more than just another line item on your spreadsheet.

While we both have strong W-2 incomes, the large number of properties I own has made conventional lenders and agents caution that securing a loan for our primary residence could be a highly complex process.I’ve consulted with some local banks I work with, and one has expressed potential interest in financing our primary home.

This can lead to consistent limit increases every quarter, which opens up even more opportunities for growth.Having good rapport or a strong relationship with a credible accountant to help simplify and oversee this process is an amazing idea and highly recommended.

The minimum "initial" lease term in Atlanta is 2 or 3 months, so they don't qualify as STRs, and thus don't have the same regulatory issues.

I am proposed GP with development / management experience, however my liquidity is tied up in a separate development initiative. 

As a CPA, I would strongly advise you have a balance sheet kept, somewhere. 

I moved from the SF Bay Area to live and invest in Reno, NV because of it being much more landlord friendly, low property taxes, close to Northern CA and Lake Tahoe, strong appreciation, and I understood the market after speaking to a bunch of people and feeling confident about the future here.