Priscilla C.
Best Loan types for short term rentals
29 December 2024 | 10 replies
1) 20% down will allow you to do a conventional investment loan, but you will have to either:- Qualify with the new payment + your current payment- Lease the property out, allowing the lender to use 75% of the monthly rent to offset the mortgage (confirm with a lender).2) You could also do a DSR 20% down loan, but the interest rate will be much higher than conforming rates.3) If less than 20% down, you could:- Do a 10% 2nd home loan as long as the new property is at least 50 miles from your current home or near a qualifying vacation spot (confirm with a lender).- Do a 5% down conventional mortgage if you plan to rent out current home and live in the new one for at least 12 months.
Rajesh Kasturi
Best Places to invest for Mid Term Rentals with cash flow and appreciation
24 December 2024 | 8 replies
Since you're interested in MTRs, look for spots near hospitals, universities, or corporate hubs to attract traveling nurses or professionals.
Wesley Wilk
What is your process for adding rooms to a SFH project?
20 December 2024 | 2 replies
The easiest spot would probably be the dining room and change the office to more of a smaller dining area.
Christina L.
Beech Mountain short term rentals
27 December 2024 | 20 replies
Hello Satish- the greater Banner Elk area does have a lot going for it and the right property should provide you excellent income and a potential nice getaway spot.
Jordan Laney
PM changed the utilities too early and now we're stuck holding the bag
8 January 2025 | 38 replies
While the power can't be selectively turned off, it’s really about active management and oversight once the utilities are in the PM's name.
Caleb Johnson
Comping Homes in Detroit
18 December 2024 | 4 replies
We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.
Adam Ortiz
Buying my first investment property out of state?
28 December 2024 | 8 replies
Other hot spots I am sure you will hear about are Florida, NC, Texas, Indy to name a few.
Grant Woodward
Post cleaning pictures?
26 December 2024 | 9 replies
No pictures.One property we spot check because we are only an hour away.If we find issues or get cleaning complaints they are going to do better or we get a new cleaner.
Josh Edelman
Las Vegas Market + News for November
18 December 2024 | 2 replies
It's the perfect spot to experience upscale Cuban flavors in Las Vegas.——————————————————————————————————📊 Nevada Tops the Unemployment ChartNevada's unemployment rate stands at 5.7%, the highest in the nation, tied with Washington, D.C., and well above the national average of 4.1%.
Annie Anson
How to meet material participation hours for out of state investors
22 January 2025 | 25 replies
Let me dive into a few things that might help.On Meeting Active StatusYou’re spot on about the 500-hour rule or the 100-hour rule with material participation.