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17 December 2024 | 3 replies
Loan terms are 30 years fixed and there are 10 year IO options available.Lenders will require a Passport, Verification of Residence (Mortgage Statement, Utility Bill, etc..), Either a US credit report or credit trade line history in your country of origin, US Entity documents (EIN, Operating Agreement, Articles of Organization,), 2 months bank statements for proof of closing, and 6-12 months reserves on top of closing costs and DP.
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15 December 2024 | 13 replies
But 1k a month in utilities definitely seems high.
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23 December 2024 | 34 replies
For example it does not consider who pay the utilities, obviously if the LL pays all the utilities, the net is lower.
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18 December 2024 | 3 replies
-As far as trying to sell land with no access, sometimes I've sold those to neighbors who want to increase their acreage, or utility companies, cities or other public entities who could use the piece for whatever reason.
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13 December 2024 | 3 replies
I need something simple that I could utilize today.Thanks you will not be able to get something today. in order to pull credit typically you must have a background check done on you and the company will also come visit your office and confirm you have specific security policies and procedures in place.
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15 December 2024 | 1 reply
One of the methods I plan to utilize is to list the space on craigslist.
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13 December 2024 | 2 replies
The limits are not high at first, but they can build with good utilization and payment history.
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6 January 2025 | 77 replies
And because you cant self promote there is always going to be some way to get some kind of message out there without breaking the rules or offending anyone.. but again I think the success stories threads should be utilized for that.
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13 December 2024 | 17 replies
@Jason Tucker you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense.
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15 December 2024 | 4 replies
My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?