@LaTonya Clark If you are saying you are $10K apart in a $265k vs. $275K acquisition  and you believe a 40 year amortized loan is necessary to make the numbers work, this transaction may have bigger problems.  

Rising values of the properties bailed us out of a potentially disappointing investment.  

from the little I know and its only because i have brokered 50  100 unit apartments the buyers are quite sophisticated and have a lot of cash and have their lenders lined up.. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

And in those events prices can rise dramatically!

For example, if you have $130K in equity, you might get $100K-$110K available in a HELOC.Look for a fixed-rate option for the HELOC to avoid rising rates.

The only exception I use is when the property is a high-end unit.Informative title makes your property look like a cheap business but it is still way better than common titles like cute, adorable, cozy.If you are charging over 1k per night, I think it is better to give more high-end title like Stay with 30,000 trees, tingle your inner artist with lake front retreatJust my opinion :)

.📈 Interest Rates UpdateMortgage rates remained steady above 7% this week.For context:2017–2021 rates: 3.65%–4.87%Pre-pandemic average: 4.16%While today’s rates are higher, Las Vegas home prices continue to rise.

Interest rates atm seem quite high so will ride this out a bit longer (and ratios will continue to improve over time.) 

Look at Goldsboro, Greenville, Burlington/Mebane/Graham, High Point, and some of the neighboring towns of Charlotte.