Challenges?

Quote from @Jeffrey Hill: There are a couple of challenges with financing the difference. 1) The current servicer has to approve it. 2) Finding a lender to do a 2nd mortgage at 100% CLTV is almost impossible.

Challenges?

What I'm looking for: Other women going through similar challenges so that we can share our successes and our failures and lift each other up.

Hi everyone, I recently purchased a rental property in a condo managed by an HOA, and I’m dealing with a challenging situation that I’d appreciate advice on.

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

That property is now a reliable source of rental income and a constant reminder that success starts with taking action, learning on the fly, and embracing challenges head-on.

Flipping on a land lease with high HOA fees = challenges that could impact profitability. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.

House HackAttend as many REI meetups as you can to grow your network of investors for referrals, help through challenges you may incur but don't have experience with, and learn from proven guest speakersNetworking app like blinq to compile all of your contacts for REI in one area with phone and emailbegin conversations with local credit unions exploring what type of loan products they offer

Challenges?