Reason for mentioning single story 4plex is to have the ability for tenants to pay for water/utilities vs. it being an extra expense I accrue.

Hey everyone,
I wanted to get a sense from people who have STRs on how they view the current landscape of STRs, and how they feel their properties are performing? I've helped numerous clients find STRs. One client of...

Having a single fee that the tenant knows they will pay 'sometime' means they accrue that fee and now have license to not pay the rent until they want to.

I would think about this in terms of whether or not you can get additional streams of income faster than your money can accrue interest?

In addition, I had to pay an additional 1% down payment so that there was time for the loan to get transitioned to the final lending institution before interest accrued and exceeded the max approved credit limit before I had a chance to make a payment.

Unless you have access to outside LP equity (not mezz or high interest accruing pref equity) that is closely aligned with your objectives my advice is to stay the course.

I was going to also increase their late fee significantly or to accrue daily, but a new law in CT just set the limit to $50.

“Gross income includes rental income received or accrued for occupancy of real estate.”26 CFR Sect 1.61.8 (a) Rents; & 26 USC Sect 61.1 (a)(5) Rents

Do the banks/lenders have the option to pay you back, with interest accrued or you get the property?

Hi, I bought a property on a 1st loan mortgage foreclosure. There is HOA debt in the amount of $21k piled up from previous owner. Who is responsible to pay for the HOA debt that piled up prior to foreclosure sale? Me ...