You don’t want your lender to go out of business while still holding your construction escrow funds.Can you provide me with the contact info of some recent borrowers?

Based on the numbers you provided, these are well above the debt service coverage ratio of 1.25 hence from a lenders perspective, this is loanable.

I've always believed in the saying that "there is nothing wrong with any deal, as long as the price is right" lol.This might sound cliche but all of Cleveland can cashflow if you buy cheap enough and if you buy with cash.And cashflow it can very well.Just like all of Ohio.You make money when you buy and not when you sell.So make sure to buy dirt cheap.Buying cheap also "acts" as a margin of safety for any mishaps that happen during rehab or issues like the OP had with the first property manager.I see many folks nowadays buying off the MLS and overpaying, spending too much on rehab and then getting dimed to death by property management.While I'm sitting on the sidelines as a turnkey provider watching it all un-fold and thinking how they just could have bought my "overpriced" turnkey property and would have been into the deal for at least 30% cheaper...It's a shame but it's what the people want, so many give the people what they want.Thanks 

These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project.

@Sang Kim- I am sorry to hear this....DId  any of the  paperwork provided  outline if the  6K fee  was rendable  ?   

After several calls with some of the larger PMS providers, where I really took the time to dive into their products and compare features, pricing, and more, we've decided to go with Hostfully.

Baselane, on the other hand, provides everything you need at a reasonable cost and is tailored for smaller landlords like us.

Additionally, most servicers will provide the tax documents needed at end of year (1099-INT, 1098-INT) and can also issue notices of NSF, late payments and support delinquency /default.

I used a property manager (before I was one) for (1) time & headache savings and (2) the value the property managers provide by economies of scale (marketing, discounts with vendors, etc.).

The SEC asked the federal court to rule on its requests today, February 6, 2025.Our law firm is investigating and would like to speak with any individuals willing to provide information about certain aspects of Broadstreet’s operations.