They hold your money, spend it without your permission and you have to call and email incessantly to get a release of your monthly draw.

Also, to track spending habits - just had a prospect withdraw their application when we asked why they were spending half their income on gambling websites.

Better to spend $60-80k for a conversion than over 120k.  

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

I want to hear some feedback to know if it's good to spend the money and time in his program.

Due to the nature of the shorter lease terms, I am spending an excessive amount of time updating my Excel spreadsheet, MLS, business website, Airbnb, VRBO, and other platforms.

As a result, I would spend more time trying to understand who they are partnering with than anything else.  

As a MF agent who spends a large amount of time calling apartment owners (or rather, numbers purporting to be apartment owners), please believe me that reaching out to random run down buildings owners is unlikely to get you any deals.

You're either doing it yourself, spending a little money and hiring/managing someone else to do it, or you don't do it and let the leads rent from someone else.

The rate cap in January is currently priced at $747,000.The Capital Call funds will be used in the following ways:1) $4mil is being used to pay down the loan.2) $175k fee to extend the loan for 1-year.3) $2.247mil to cover interest rate cap extensions for the remainder of the hold period, including $747k for the January 2025 6-month interest rate cap purchase.4) $1,000,000 in reserves to prepare for additional extension fees and cash reserves.