Nice - congrats - hard to find Multifamily DSCR Loans at that size but looks like you successfully executed!

Hi @Julie Muse,What a fantastic example of recognizing and executing a market-ready opportunity!

You might also want to look into supplemental insurance for future stays, like Proper Insurance or Safely, to cover situations where Airbnb’s support falls short.I'd be happy to help more.

It's properly leveraging (not over leveraging) the asset that pays off.  

Leverage technology early and put everything in the cloud, so you can access info wherever you are.Make sure to get properly licensed and obtain E&O Insurance.

Yes it's a huge problem.You should fix this correctly now.Open the walls and put in proper sound reducing insulation.

You have to really understand your funnel and market segment as well as execute extremely well for this to work.

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.

There's more to execution than merely coming up with the down payment money.

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.