Prepayment penalties- usually 1-5 year terms.

Purchase price: $160,000 Cash invested: $35,000 Another 1% single family deal in a transitional area creating long term wealth

My passion lies in expanding my portfolio of long-term rentals and diving into property flipping as I grow in this journey.My main goals are to connect with like-minded investors and professionals, share experiences, and soak up as much knowledge as I can from this incredible community.If you’re based in Georgia or working on similar projects, I’d love to connect and hear about your journey!

This creates a market for both short-term and long-term rental properties.Affordable housing, Compared to cities like New York, Washington D.C., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

We have a home that we are almost done remodeling that we would like to try the mid term strategy to increase our cash flow vs long term.

Also, banks normally only lend for holiday homes, not for rental properties but a holiday home can mostly be a short-term rental or become one later.5.

Think of it as s long term investment that will save you headaches down the road. 

Moreover, it allows you to set the terms of the lease agreement according to your preferences, which can help prevent misunderstandings and disputes in the future. 

Hi AnnaTwo books that you may want to add for your library:1.Short -term rental long -term wealth by Avery Carl2.

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.