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29 January 2025 | 12 replies
If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.
11 January 2025 | 12 replies
I think the LLC also makes it easier to open a local bank account, which is convenient to pay utilities or other local bills or your property manager, etc.
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13 January 2025 | 11 replies
Hey @Brett RiemensniderThere are a TON of banks/credit unions that will offer as low as Prime on a heloc on your primary residence.
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5 February 2025 | 9 replies
Additionally, I'm banking on a future opportunity to refinance.After less than a year, here are a few tips from what I’ve learned:*Hire a local STR expert real estate agent to guide your investment location.
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27 January 2025 | 7 replies
@Jeffrey Bourque Are you planning to finance this with a local bank or credit union?
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17 January 2025 | 19 replies
Since i had capital and had access to my commercial banks for the best rates possible on vertical and horizontal loans..
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20 January 2025 | 2 replies
. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000.
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20 January 2025 | 7 replies
The value of your SDIRA may be too low, but I'd recommend Gary Mobbs at South Star Bank in Gonzales, TX.
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10 January 2025 | 6 replies
Go to small local/regional banks NOT national ones.
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22 January 2025 | 8 replies
For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.