I will still use alt. lenders from time to time depending on the circumstances but I will also achieve similar LTC financing through traditional banks and when I go to my capital partners with a term sheet for 85% LTC through a traditional bank with a fully capitalized interest reserve, healthy contingency funds and soft costs built in and the real estate great, its far easier to raise capital because far less equity is required to fund the deal but this all starts with the quality of the real estate.

Avoid common pitfalls like skipping due diligence, underestimating repairs, and overleveraging having reserves and a strong team is key.Good luck!

I asked to cancel a bed frame and I did not get a  confirmation until I followed up 3 days later.

So you’re either catching up for a shortage last year, or doubling your reserves for next year.

@Cynthia Lee you should confirm this with an experienced landlord-tenant attorney!

Overall i am pretty sure that you and I are in agreement - people usually underestimate the expenses, so it is always good to err on the side of having more reserve.

Reserves!

@Samuel HudsonYou could consider being an owner occupant until it’s rent deregulated though you’d have to confirm how long you would need to do this as I believe the rules recently changed.You could look into turning into condos.

This might be typical in your market, but it’s worth confirming to avoid unexpected costs.

The previous owners took reservations mostly by phone, wrote them on a big paper wall calendar and hand keyed CC numbers into a terminal 😲The bunk beds have been a huge win.