And lastly, what type of property do you want that next one to be?

This type of short-term loan can provide the funds needed to renovate the property.

In this type of area having just 1 or 2 properties is ok because your tenant base is higher end and more stable. 

Generally it's a mix between (a) spec builders, the type who specialize in doing in-fill lot's (b) investors, as it is a normalized flip strategy (c) owner occupants, especially in high desire neighborhoods, who are a-ok with taking on the project and even some are excited that they get to build a new home in often old neighborhoods. 

California is the only state that has essentially put a rent control type of restriction on home owner insurance premiums.

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

There is usually not much that compares with what we offer, so we only compete apples to oranges, so incentives are not a good tool for us.The types of tenants we want (multi year) also respond better to an adjustment in rent than an incentive.

Then connect with some hard money lenders (you can find some here on BP as well as some who are typing this right now) and connect with them to understand their product type, what they like to lend on and requirements.Hard money broker is all numbers game of making relationships and helping those that are looking for financing, it starts out slow but if you get with a few good borrowers and lenders it can be pretty decent money to be made.As an example we paid six figures last year to HM brokers. 

How do y'all find your clients in need of this type of funding?

Purchase price: $545,000 Cash invested: $545,000 What made you interested in investing in this type of deal?