Prioritize your financial stability.

For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity.

I see little benefit in the FHA as an option as long as the 5% conventional loans are available now.  

It is disheartening to witness a mentorship program that boasts substantial financial success, with students allegedly earning substantial monthly incomes, yet fails to ensure that their own employees receive even the minimum wage they are entitled to.

Local banks typically offer lower interest rates but might require a solid track record and detailed financials.

I'm not sure if that would bring in enough money but it would certainly make things easier financially speaking while you built up your real estate portfolio. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

Stessa brings accounting, tenant screening, financial reporting and more into a single integrated platform built for investors, by investors.

The loan is done and you can invest in other options.