18 October 2024 | 34 replies
Under the $100k property example, something as common as having to replace the sewer line will put you under water and you are more likely to have to come out of you personal reserves to cover operational/cap ex expenses or debt service than in my $6M loan example.Remember cap ex and operations are normally more easily absorbed in the A location assets.

13 October 2024 | 11 replies
Advertising can be done on a STR platform, but will probably get more traction on websites where people are more likely to look for more than a nightly/weekly rental.
12 October 2024 | 6 replies
Throw in a dose of imposter syndrome and fatalism and you have a recipe for some mood swings right before a property is booked again.From a practical point, I would recommend great photos, a clearly defined target to whom you are advertising and understanding the best pricing of an area really well to ake sure you get booked in a timely fashion.From a more meta perspective, be aware that these listings don't typically get booked well in advance (families displaced by flood or fire, traveling nurses who need a new contract ASAP, and construction projects that realize they need a speciality engineer on-site RIGHT NOW don't book ahead).

13 October 2024 | 5 replies
Like in MS its quite common to transfer title that way and title is insurable in other states your right all the quit claim did is release an interest .

18 October 2024 | 37 replies
Some worked as advertised, and some do not.

16 October 2024 | 13 replies
Over time, Section 8 rents did not keep up with market rents for my properties, so I slowly converted them to market tenants.Pros of Section 8:You are likely to have families as tenants, so it is more common to have long-term tenants.These are lifelong renters, so you don't get calls for stupid stuff that really should be tenant's responsibility.Most are used to slum lords, so simply being responsive builds huge amounts of goodwill to you.Cons:the biggest one, for me, was the annual inspections.

13 October 2024 | 54 replies
It's common when you do these water payments that a few will pay the rent but not the water bill in protest.

12 October 2024 | 2 replies
Already a co-owner of single family home with shared common space and bedrooms rented to individuals.

14 October 2024 | 24 replies
(in fairness, this is not super common).

15 October 2024 | 12 replies
You'll also need to find a lender that offers portfolio loans, which might be less common.### Other Considerations- **HELOCs (Home Equity Lines of Credit)**: You can take out a HELOC on each property or on a few properties to pull out equity.