During the Maverick Investment Group webinar, ABC Baltimore made the following guarantees that were also in our final contract with ABC Baltimore-1) If the rehab takes longer than 120 days, the seller (ABC Baltimore) will pay us a rental guarantee of $1400 per month.2) If the house after rehab is completed appraises for less than our total purchase price of $106,000 then the seller will buy the house back.Assured by these guarantees in the contract, we signed the contract for $106,000.

I think i finally got someone to respond, was very odd for sure!

I’m finally wanting to pull the trigger on getting another property, but this time the primary goal of turning the sfr into an Airbnb.

Sounds like great prices but 9 repairs in 12 months called in by tenant, it seems to have finally stabilized after owning for 18 months (no repair calls in 3 months so far), stolen AC unit, attempted break in on other house (alarm scared intruder away).

So, they could be correct or they could just be trolling for money, but you should have done final testing.

The provisions in the second contract govern the final close so you have to check for discrepancies that would invalidate your contract's provisions with the seller.

I stopped paying the 1%+ and my principal finally started to decrease, significantly.My suggestion is that you ask brokers for recommendations that are in the area where you are purchasing your property and keep calling banks and save thousands of dollars you can use to invest for your next purchase.Two things:  Your broker wasn't getting rich on a 1% commission and the 1% you paid to your broker didn't keep your principal from decreasing; it was probably the cash out he got you (and at a higher LTV than the bank would lend you I might add).Banks and brokers each have a place in the lending arena.Stephanie 

Finally, always get the credentials to access the mortgage account online and change the email notifications to your address.

It’s like trading baseball cards back in middle school.. you get the shiny new card you’ve had your eye on, and you don’t pay a dime until you finally decide to sell and pocket the profits.

Quote from @Heidi Fischer: HelloI’m a high W2 earner and have been looking for a STR and finally went into contract but can’t close until mid-end of December 2024.