I'm not in that market but I would recommend finding off-market deals, targeting distressed properties, or focusing on smaller multifamily units in less competitive neighborhoods.

I like how I can dig into the competition and see their nightly rate, pet policy, etc.   

Watch out for any water filtrations from the upstairs pool I have seen that happen in a couple of projects, make sure it's a good builder.I like boutique projects with fewer neighbors, more exclusive, less resale competition, and less rental & rate competition as well.

Depending on terms and overall cost, 7.8% may not be super competitive. 

You could focus on entering smaller or less competitive markets where your capital goes further, such as investing in affordable multifamily properties or cash-flowing rentals out of state.

Building a compset and diving into the details about the competition, cleaning fees, length of stay, and really, seeing who is out ther doing STR versus MTR etc. 

By fostering a collaborative relationship built on trust and transparency, brokers empower investors to navigate the complexities of real estate financing, ultimately contributing to their success in the competitive real estate market.

I plan to check them out although I don't think they can be competitive for lending against equity vs alternatives like IBKR.I will keep this thread posted as we navigate this in case others are interested.

James Dainard is a prolific professional house flipper, with a track record flipping nearly 4,000 homes in one of the most competitive real estate markets in the US - Seattle, WA.

If you are thinking Texas, the problem is so is everyone else, so your competition is much higher and unless your property is special, you can only compete on price.I hope this helps.