We bought the property for $218,000 on 2/28/2024, spent $2,500 on repairs, and enhanced its appeal with minor touches.

130k sounds like a lot of equity, BUT most second position products are only going to go up to 70% or 75% loan to value. so, you can not borrow a large portion of that equity.

It’s great to hear you’ve had a productive conversation.

Enhance your networking capabilities and build connections by participating in local gatherings and becoming a member of Facebook groups.

There will be plenty of realtors who want to sell your product after the fact.

A lot of opportunities to buy aged C-class homes at 8, 9, 10 caps.Small investor expense ratios are 40%.Large operator expense ratios are 37/38 %.Large platforms/institution expense ratios are 33/34%Big benefit of blanket insurance policies is to drive costs down.A lot of BFR is looking for a bridge product for 2 years to hope rates get back down in the 5% range.Cannot use HPA on BFR communities you plan on selling based on cash flow.5-18% rental premium being achieved based on new construction communities compared to new construction scatter sites.For real time comps go to biggest operators BFR, small multifamily.More confidence about the cost of construction having stabilized.Some products which will not be good for retail buyers will also not be good for rentals.

My thought is, as long as it isnt trendy and wont go out of style, why not just get the best product for the money. 7mm will give you more wear, right? 

I would love to connect as I have numerous products in which could be beneficial to you.

When a bank knows you are there in the community, and creating a service/product for its community, they just treat you better.

This is likely going to be a dscr product.