If the borrower defaults, the lender can pursue not only the collateral but also the borrower's other assets and income to recover the outstanding amount.

Their fees are giving me a little pause since they charge a percentage of the amount in the account and additional fees for each transaction.

How come nobody is talking about the amount in question?  

So percentage wise Jacksonville has seen a crazy amount of new supply being delivered which has affected rents.We also manage a portfolio of new construction homes in Palm Coast and Palm Bay and rents for those homes have dropped $25-75 depending upon floorplan and submarket and they’re taking longer to lease up compared to 2 years ago.A lot of Florida is having similar issues of stagnating or dropping rent, but it definitely depends on market, submarket, asset type, etc. 

Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

Welcome to the community and be ready for a huge amount of information at your finger tips.

The note investor can set up a deal where the borrower deeds part of the property to him for cancellation of a certain amount of principal.  

.: Yes Joshua I do some hard lending small amount as I said to some people I know.

You may also consider a bridge loan until you have a signed lease, security deposit, and first months rent to use 75% of the lease amount if you have a property identified and need to move quickly. 

Welcome to the community and be ready for a huge amount of information at your finger tips.