Quote from @Thomasina Pearce: Quote from @Gladimir Lobo: Heading downtown to try your luck at Jack's is a much better bet.

@Mike Musarra  If you plan on doing a BRRRRR your best bet will be refinancing into a DSCR loan.

It is my understanding that the STR rules in Cleveland are as follows: - Density limits: In residential districts, STRs can't make up more than 15% of the total homes on a block or units in a multi-unit building. 

For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a credit identity with business credit reporting agencies, also known as a business credit profile.Reality check:  > Funding your business with your home equity or personal savings/guarantee is a HUGE risk  > ~45% of Small Businesses applied for a Business Loan in 2023  > Less than 2% of SBA Loans are actually funded/approved  > 29% of Small Businesses FAIL because thee run out of Capital  > Your company’s name on a credit card is NOT corporate credit (if you used your FICO score to get it)  > Business (EIN) credit will open new ways to finance your growthIf you keep doing what you've always done, you'll keep getting what you always got!

Hi Jerome - MTR is certainly one of the areas of lending that is still new and lenders are still adapting - probably going to run into trouble with more traditional and conventional lenders - which generally take a long time (years) to adapt to new trends like thisI wrote about this late last year as one of the developments to watch for 2024 - particularly how DSCR Lenders are approaching, which is likely the best bet for this investment type currently (but note not all DSCR Lenders are the same - so will need to vet and pick one that is MTR friendly and generally forward-thinking)What’s Next For DSCR Loans?

The options become more limited. 

There are a few out there that will do first time investors but being your first, you will be limited.4) What are your actual margins. 

Thanks If you are looking at class A-B, the suburbs are a better bet dollar for dollar. 

And, this makes your LLC a limited partnership with you as a managing member, which is tricky in and of itself.Just put money in individually.

Landlords/owners feel their rental apartment will be vacant for longer while others prefer to wait until more inventory arises in the warmer months.Astoria RentalsWhile New York City’s metro area as a whole, especially desirable areas like Astoria, is not considered to be a ‘cashflow’ market, there is upside to purchasing rental properties here.Median rent prices have risen from 2022-2024 as follows:Studio rents up 30%1-bedroom rents up 19%2-bedroom rents up 18.5%3-bedroom rents up 21%* While 4+ bedroom rents have increased as well, the findings are insignificant due to limited data/inventory for this apartment type.