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15 November 2024 | 13 replies
I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).
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14 November 2024 | 11 replies
and of course a lot of DSCR loans are quote with a 5 year pre-payment penalty which of course can be VERY expensive if you have a 5 year flat 5% PPP and either rates drop or market conditions are such that you would like to sell the property. 5% of 300k for example would be 15k.
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13 November 2024 | 4 replies
When rates go down there will be more buyers in the market creating more competition and driving up prices.
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15 November 2024 | 5 replies
Here’s how to take it further:Follow up consistently - If someone responds, follow up every few weeks to see if they have new deals that fit your criteria.Be specific - Clearly outline your preferred property type, location, condition, and price range to make it easier for wholesalers to keep you in mind.Build relationships - Try setting up a phone call instead of just texting.
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15 November 2024 | 8 replies
Their approach resembles the BRRRR method.For example, we have a 3-bedroom, 2-bathroom home in fair condition (requiring less than $20K in cosmetic repairs) that has been on the market since August 2024.
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14 November 2024 | 6 replies
They have a separate URL for longer stays, so you might try looking on there at your competition. https://www.airbnb.com/stays/monthly One caveat on renting to someone having a house built, it often takes longer than planned, and you have a short definite window to rent (3-4 months).
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16 November 2024 | 14 replies
Hey @Michael Dallas, it sounds like you've put a solid offer on the table—10% interest-only on $95k is competitive, especially with a clear 2-year exit plan.
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12 November 2024 | 5 replies
Competitive analysis is key—understanding your local market, pricing, and what amenities and features guests value will set you up for success.
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11 November 2024 | 20 replies
You should think about what you would offer with regards to your competition and compare rents.
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12 November 2024 | 4 replies
Also, look for off-market deals, as they often offer less competition and better margins.