With  one property, a hotel that doubled as a homeless shelter one neighborhood over shut down and has caused problems for the surrounding areas.

Lendbase, as a "correspondent lender" basically shops for and lends other Lender monies.

Rate shop .

It was a VA foreclosure and in an incredible neighborhood.

Target, actual 7.5% cap rate in a reasonable neighborhood.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Verify employment and call previous landlords to avoid tenants with red flags.Rent Setting: Research comparable rentals in your neighborhood to ensure your rent is competitive.Use Technology: RentRedi is a great choice.

This is located in the Sailboat Bend neighborhood of Downtown Fort Lauderdale.