Quote from @Duane Richards: @Sundone Boutvyseth I also did a 10% on STR in Florida last year, it's worked out really well, but went through a national lender.

Is it the last rental rate you charged, or is it the going rate in the area + 10%? 

.: So I have been thinking the last number days about a particular scenario. 

the and I might have bought 2 more lumber packs already have to check when I get back from the islands.. we got hammered last time.

What are your thoughts on the market now, post-covid and with rentals/prices at a significantly reduce price from last year?

I shopped all of my state's CU last time so I only called the top few this time around, it does seem like the best way to go about things.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

The last 3 clients I worked with all ended up with Chase.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I am the biggest fan of Bigger Pockets, and was so happy to attend BPcon in Cancun last year, and just signed up to attend BPcon in Las Vegas.