Wise lenders have borrowers sign legal agreements and have them provide collateral that is worth more than the amount of the loan in case the borrower doesn't make the promised payments on the loan.

If you don't you will lose a lot of money with evictions, lost payments, and vacancy.

I believed I was putting that hard-earned money into something secure.

Add a Rental Security provision to receive stock options in Lazy Dogs LLC for any upside when it goes public!

Does anyone know of a dscr lender that will allow for seasoned money for a down payment and a really good property manager in Ohio specifically in Columbus, Cin, and Cleveland?  

As far as I understand, as I am living in it, I was able to get cheaper down payment options.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

If you have no money for down payment do you have teh $2000+ per month to pay the first (then still have to pay the 2nd?)

Could any of you guide me on what I should do initially to secure financing?

I bought my first rental in June of 2024 and have had a tenant that has been making late payments since day 1.