.: Self-proclaimed “Short Sale Queen” and associates indicted in federal mortgage fraud schemeTuesday, December 3, 2024For Immediate ReleaseU.S.

We do a new FULL lease every time because laws change, terms adjust, and it's negligent to do anything less.

However, my mother has fully paid for the property, making her the rightful owner in practical terms.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

For the person that can tolerate the variability of returns, the IUL is probably the better choice with the best long-term prospects for growth.

Long story short, you spend a month cleaning and renovating, then you find a new tenant after just 15 days.In total, you lost three months of rent income ($3,000) plus paying utilities ($500).

Why Part of a Good Deal is Better Than 100% of No DealHey BiggerPockets Community,As real estate investors, we all want the perfect deal—the one where we control everything, make the most money, and have the best terms.

Quote from @Steve Schrag: The term "eviction" can mean many things.

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

I'd rather keep the sub-3% rate for now and finance other properties conventionally for the short term.