Quote from @Jason Taken: did you actually have a secured lien?

Security systems are a giant headache for short term rentals.

fix and flips are the vast majority of the targets for private lenders.

According to the brokerage and agent, these individuals either weren’t serious or claimed they didn’t realize the property was occupied, even though it was clearly stated in the listing.I’m not particularly concerned about the property’s condition or the eviction process, as I’ve already secured some level of cooperation and have basic access to the basement.

However cash is a hard no for me because I feel having it around and transporting it provides a security risk for me.

@Rod Merriweather Getting a LOC (line of credit) secured by real estate from a bank is going to be tough as the line of credit is viewed as a short-term liability while the property is a long-term asset.

We have buildings with no parking lot and private entryways, so tenants are responsible.

The goal for our work is to get your rental set up on a platform, vet your first tenant and then get the tenant secured before you are independent.

We know we want to create an llc but is it difficult to secure a loan?

We leveraged our expertise in negotiation to secure it at a competitive price of $140,000.