It fits within our buy right criteriaWe own 12 units right next door.Newer vintageThe three beds are in high demand, and we are blowing away the 1% ruleThere is very little cap exWe focus on PPU (profit per unit), and this is going to profit nicely and add to our scale in that part of the marketExit strategy is to refinance our capital out when rates drop, and to hold long term.You have to be willing to take what the defense gives you, and you have to understand all of the investing strategies and know when to use them2021 and 2022, we only did about 200 units, smaller deals, but very profitable and we’ve refinanced all of our capital.2023 was an excellent year. 128 units, 105 units, and 97 units.If you aren’t doing deals, you can always be improving operations, meeting more potential investors, and creating more relationships.Life is like real estate.

we have until spring of 2025 until our balloon loan either has to be refinanced or paid off (we got this loan because we intended to build, of course) and now i feel like it's a ticking time bomb.we conducted "clean and satisfactory" (no issues whatsoever to build) soil and foundation tests and provided those to every buyer. it seemed (not quite sure here) like they backed out once they reviewed the tests - yet there is nothing negative in them. we will not be providing these tests moving forward (as we had to do them ourselves and feel that each buyer should do their due diligence moving forward!)

I put too much into renovations because of the classic found a bad contractor story, so had to get another contractor out, and after 9 months holding cost and about $60K in repairs, $3K in appliances, I got the place rented. ( I also refinanced and was able to get about 133K out, which I paid off my HELOC and credit cards I used to pay for all the renovations and PP). 

After the repairs are done, I would recommend refinancing into a traditional mortgage and paying off the hard-money loan.

When I refinanced it I pulled all my money out and got paid 10k at closing for this deal.

When I refinanced it I pulled all my money out and got paid 10k at closing for this deal.

Are you talking about refinancing, or taking out a loc against the equity, or selling?

I also have used a HELOC to buy probably 10 or more properties and then refinanced to pay back the HELOC.  

After moving out I was able to cashflow ~$1,000/month but ended up refinancing and getting all my money out of it, still cash-flowing $450/month, and using the money to buy me another rental property.

After moving out I was able to cashflow ~$1,000 a month but ended up refinancing and getting all my money out of it.