The only reason to look into franchises that flip houses or do renovations pre-sale is because you have existing business that you could leverage on top of this to add more clientele.

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

However, pricing in Austin is still substantially above pre-pandemic levels.

In one building the tenants accumulated so much junk over the course of their tenancy that I was forced to get a 40’ roll off dumpster to get it emptied for a sale.

If you include the costs to build in a purchase of the primary structure, then you can typically roll that into the final loan product.

A HYSA pays 4.5-5%(before rates went down) pre-tax, 3% net tax if you're a high earner. 

Your goal is to plant the idea in their mind and create a situation where selling to you feels like the easiest and most logical solution for them.If you haven’t already, the first step is to get pre-approved for a mortgage so you know what you could afford if you were to purchase the property conventionally.

If you plan on holding, it's then a much easier task to roll it into a DSCR loan.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

One way we fight this is with photo verification pre-lease signing and not approving renters who don't view the place in person, our credit underwriting software also flags apps that have a high likelihood of fraud.