The tech industry and manufacturing growth in Reno also provides for a different client for short term rentals, something to look into.

Thank you.Good morning, Joel - What you are describing is a very common practice on the private lending side of the financing industry.

After this, we are hoping to pursue more destination-location STRs in Oregon and Washington, and possibly BRRRR LTRs closer to home to diversify a bit.Help me analyze this potential build.

If you’re looking to continue to invest in your backyard, it helps to network with as many locals in the industry as you can.

These are prime locations, think near downtown or popular tourist destinations where demand for short-term rentals is typically high.

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

Wishing you luck as you learn and grow in this industry!

You'll want to enlist a CPA on this to assist you- Repeating the above for Cancun, since it's a vacation destination already, I'd almost guarantee you that you cannot write it off 100%In regards to travel, it's also important to remember that even if everything is used 100% for business, the IRS classifies business expenses being valid if they're "ordinary and necessary".

In the "industry", you would use an "Acquisition/Rehab" loan that allows you to use part of the loan to apply to the purchase of the property and you'll have some loan funds left over to use for the rehab.

In hindsight, they gave loans to people who were terrible tenants, who weren't going to change just because they now owned a house.In response to the Great Recession, higher lending criteria was forced on the industry by the government.