Since you're wrapping up paperwork, make sure your lease terms are solid, get the right insurance (landlord + homeowner), and set aside some cash for future repairs.

Using a HELOC or home equity loan on your personal home could be a good option, especially if you can secure a low interest rate and manageable terms.

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

- Are you more interested in cashflow or longer term appreciation?

It was purchased from MLS as a long term buy and hold rental.

Hi @Sharad BagriIt’s great to see you considering liability coverage right at the outset of your partnership investment.. that’s a proactive move many new investors overlook.

Normally the escrow agent will want mutual sign off even if its clear the contract terms indicate one party should be awarded the escrow funds.

The fact that you have already owned and sold a rental property gives you a great experience to start from.In terms of the best place to invest - that is whatever place meets your criteria, goals and investing style.Personally flips have not been working as well for me lately, but when we get the right BRRRR deal those are still working well.

Let's roughly say running electric line is $10kInstalling underground propane tank 1000gal is $10kWhat's your experience heating with gas vs electric in terms of warmth?

My plan is to set up a syndication fund with Canadian (and U.S) investors to purchase short-term rental properties in the Puerto Vallarta and Rivera Nayarit area (which is booming).