Absolutely I understand, depends who you are dealing with when getting a loanWe usually operate in middlesex and Essex county, we have been looking at properties in south jersey as well by oaklyn and collingswood area.

We have a property in IL that we are looking to raise capital to stabilize and we want to be organized, professional, and efficient.

On top of that you have operational inefficiencies that local investors simply don't have.Some of the absentee (OOS) slumlords are giving all of us property owners a bad rep here in Milwaukee.

@Leo Gregoire - Sam Ahsan manages a STR company that operates around Massachusetts.

The credit bureaus (TransUnion, Experian, and Equifax) sell the fact that there has been a mortgage related credit pull to bottom feeder boiler house type lending operations.

My company operates as both a brokerage and a property management firm, so we have access to deals that don’t always hit the open market.

I'm also learning quite a bit from the Pace Morby community as they are very tactical, less theoretical, and operationally-focused. 

Cap Rate: Net operating income divided by the property price.

I just started operations in 2024 doing STR arbitrage.

You could do much better with your money than doing out-of-state management in Scottsdale where you are going against some phenomenal operators.