No free lunch in this market!

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

This TDR is a new program that has been in development for 30 years and should ignite into an active free market for credits this coming July 15.

In the meantime we are talking to the property manager to find other STR's in the area so we can support a fair market STR rent. 

I received immediate, good response to my marketing on Zillow, Trulia, and Hot Pads.

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

Great marketing material on. 

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

I like working with lenders who are familiar and reputable in the market you are investing in.

Every Market (Detroit) is made up of a series of Micro-markets (neighborhoods) of which they are all different in cost, value, cash flow, rents, etc...