@John BowensAre you loaning from a pre-tax 401K or did you convert to Roth and then loaning from there?

Fellow STR owner/manager from TX.I do think there is value in having some pre guest documentation in the event that you have a guest come in and make false claims about cleanliness, etc. 

Here is my system that I have shared on the forums previously:It all starts with online ads, within which are several pre-screening questions I request be answered in their response to my ad.

My thoughts are to do an addendum (but not sure how to word it since she will have pre-paid her part until may) and let them figure out the security deposit between themselves at the end of the lease.

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home 7 mil credit line  ... new budget for each plan that has been pre appraised in the MAI at the beginning of the project.. they did have to update the Mai last summer but again did it at their cost not mine.. banks have to paper their files.. even though we are selling the same floor plans for 100k more per plan than the original numbers came it at and bank has been paid and has all the closing statements showing this data..

I’m certain there will be some type of moratorium or intervention, but the fact of the matter is the balance sheets of impacted lenders will suffer when obligations are not paid on time.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

However, if you feel you need their input earlier, you could offer to pay for their visit to walk the property with you pre-inspection.

I recently got pre-approved and am also on the hunt for my first investment property.

Does anyone have experience with Ivory Home’s predesigned materials packages? It sounds like an incredible resource, for $200 having a fully designed materials and fixtures schedule to pair with a labor only GC or a G...