Sept is seasonally slow here in South FLL.

The wood is pine or mdf, as opposed to oak.

While this is indirect, a less experienced sponsor is not going to be able to attract capital like a seasoned sponsor, regardless of securities being exempt or not.  

When doing them, it is best to be in and out as quickly as possible and preferrable during the storm "off-season".

I'll add that you must manage yourself for at least a year (all four seasons, etc.) to have a real understanding of what you want done and how much you would value what is offered by STR PM.

I think it’s just a seasonal/holiday slump but it’s a good time to be a buyer!

Say I travel seasonally.

Seasoned investors typically have contingencies in place and work to diversify their portfolios to mitigate these risks.4.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

Whether you're a seasoned pro or just thinking about your first flip, let’s laugh, learn, and maybe even cry together!