I am glade to see people starting to talk about the reality of what is starting to happen and going to to happen with the STR market.

The (BRRRR) process of growing your portfolio is illustrated below.This method is how successful investors grow their portfolios over time.In summary, you can’t afford to buy in low-cost locations if you want to achieve financial security with the least total capital possible.In SummaryLocations with high appreciation:Enable you to to achieve permanent financial independence because prices and rents keep pace with inflation.Reduces the total capital required to acquire the number of properties you need to replace your current income.Locations with low appreciation:Provide short-term financial freedom because rents and prices will not keep pace with inflation.

Purchase price: $750,000 Cash invested: $750,000 I purchased this 11 acres to build a "dream house" on but through different circumstances have decided to to fix up the little house on it and rent it out.

The bank will only deal with the borrower of record unless the borrower sends a letter to the bank authorizing you to speak on their behalfIf the auction is 5 days out the lender is not going to to cancel the foreclosure unless the borrower comes up with a substantial down payment - this is a common issue we see is the process gets to the finish line and borrowers think now is the time to negotiate - waiting is the worst thing a borrower can do because the lender has spent the legal costs and is now 5 days away from getting paid off or control of property - there is no longer any incentive The only other option at this point is to file bankruptcy.

I know these are not the best times for getting good financing deals and interest rates but I am ready to to move on and planning to refinance as soon as things get better.

It can be very dangerous paying for a listing without knowing what terms you are going to be required to agree to. To

My profits average around 23% and in that sector of the industry I would encourage you to whatever you have to to get the deal closed.

My goal (probably like most others) is to be cash flow positive when moving out and using that to to build the capital to keep purchasing more  

Typically the loan is prime +1%   as an example, today if you had a $100,000 line of credit and spent it all, you'd pay about $363 / month in an interest only loan  They typically expect to to pay it down in a large payment after closing a transaction  

@Christopher Simons Becoming a BP Pro member sooner so I could use their rental calculator as much as I wanted to to analyze tons of properties.