Cannot sell right now either, I am pivoting my research in the Florida market to invest and potentially purchase a property for STR in 2025 and I had a few conversations with mortgage brokers to get some insights. 

But with off-market deals, things are a bit different since you might not be using their full spectrum of services in the usual way.It's all about kicking off the conversation on the right foot.

It requires deeper conversation if you are serious.

The cash flow can appear good on garage conversion ADU additions, but the value being added by ADU additions in SFH areas is even lower than this amount.  

The builder will need to be approved by the Bank/Lender or the bank/lender can provide you an already approved builder they have used before in that County.Once the builder is approved the Bank/Lender will have a initial meeting and set up an agreed upon draw phase based on the work that will be completed in phases.Best thing to do is have a conversation with a seasoned Banker or Loan officer to start an application and set up step by step plan.Feel free to reach out if you have any questions I am always happy to help and talk REI.

Rachel left her engineering job to broker full time too.I'm happy to help you gain some confidence evaluating properties (whether it's BRRR, ADU conversion, or DADU development) and build your team (contractors, conventional lenders, hard money lenders, etc.).

Alternatively, you can use the fair market value of the home at the time of conversion"Keep in mind, you will probably want to talk to a tax professional to go over all the consequences. 

I find that automatically sending a message to your new guests is very useful, you get to start a conversation right away and it increases the guest's experience.I also automate all my cleaning jobs with Turno that I find invaluable.

I've stopped at houses and started conversations with neighbors of houses that are in disrepair and have bought more than a couple by doing so. 

Just had this conversation with someone in the NRV last week.