Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental? 

Price point I'm not sure on yet, I've been slowly learning about all of these terms over the past month. 

They bring higher tenant turnover, limited cash flow, and attract traditional tenants who aren’t your ideal long-term buyers.

Lancaster city limits short term rentals to only certain zones of the city so definitely look at the city website for that information.

Hi All,I am an investor, and Property Manager on the SW side in Chicago- I recently passed my RE Exam and looking for a sponsoring broker that I can team up with and learn the ropes.

It doesn't take long to learn how to spot a good deal.6.

.: Quote from @Jennifer Turner: Has anyone ever sold a property with seller financing then later extended the repayment period or modified the terms of the loan with the buyers?

Quote from @Ben Wisan: Hi all,I am newer to this website and community.quick question for everyone.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

I’d think long and hard about this and possibly set up financial parameters for who is responsible.