They have been historically reliable over the last few years but I am hearing some rumblings of reduced leverage, slight increase to rate, or some kind of minor tweak to DSCR lending with some programs.Happy to jump on a call if you have any questions or concerns.Good luck!

What's the last deal you found in Newburyport?

Close to a cool little town, close to an area attraction, etc....Also do a search here and see how to screen guests, in addition to what the hosting sites do.... like no last minute bookings, no short stays....

I have been able to review or been told of several audits (from other REI tax colleagues) related to cost segs in the last year or so- and of those none of DIY cost segs were allowed under audit. 

Over the last 10-12 years, the city’s been on a steady climb, and for good reason.

I did a punch last week with the builder.  

My uncle has done 84 percent for the last 14 consecutive years (these numbers can be proven  and have been well documented) .

Any recommendations for something that will last for awhile? 

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.

The last appraisal from September of 2023 was before it had a tenant and came in at $165,000.