A new build needs to perform better than that to make it worth your time, all the risks and capital concentration.thanks for the advice everyone and would be happy to connect with you: @Bryant Brislin @Dave Wells @Leilah Davis @Joshua Stewart I have been building 15 to 20 spec houses a year now for 7 or 8 years..Just curious, generally from start to finish, from closing on buying the land to collecting a check after building the house and after escrow, how long is the process taking you? 

I'm in the process of purchasing a STR and am intrigued by the 3-2-1 buy down. 1st year of the loan would be 4.5%, 2nd year 5.5%, 3rd year 6.5%, 4th year standard market rate.

It is just a reality how many PMs have no idea how to process claims and have close to 0 systems to protect assets for business owners. 

Any guidance you can provide as we navigate this process would be incredibly valuable.Looking forward to connecting further!

I currently manage them both and am experienced with the whole process along with finding deals and analyzing them.

The foreclosure process is not cheap or fast.

It's such an exciting part of the process!

Another thing is not to rush I was in a rush to jump into RE but I'm glad I did it's all a learning process on what not to do for next one. 

Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

It ends when they AND their stuff is removed to the level that allows you to begin the re-rental process.