Insurance is another big ticket item for all beach areas, especially Florida.I had some friends sell their ocean front condo on Hilton Head, that they had owned it a long time at a great interest rate.Condo fees, property taxes and insurance made it not cash flow anymore.So they were forced to sell.

If he's unresponsive you will need someone to force a response then file suit if need be. 

I very well understand that the majority of people can't imagine this, but for instance during Covid many people I knew disagreed with the forced vaccines and such but were too scared to stand up for themselves.

(going from 6.75 to 5.5-5.75) What I fear is that this forces me to stay in the property again for another 12 months.

I think you're assuming he's paying in all cash and holding, but what he's trying to do is buy, rehab, and then refinance.And again, the only way this works is if you buy a distressed property way under market and force the ARV up.I have done a few BRRRRs that worked and a few that didn't.

We want to get into MF (2-3units to start) doing BRRR... and rent out for Mid term rentals.We see a house that meets our buy box, and our investment goals are;- $300 gross profit cash flow per month- 30% equity + with forced appreciation after rehab- Refi (if rates come lower!)

FREDDIE MAC SMALL BALANCE LOAN (SBL)Loan Purpose: Permanent Financing (Refi & Acquisition) Loan Proceeds: $1,000,000 - $7,500,000Loan Sizing: 80% LTV; 1.20x DCR (Top Market)Loan Sizing: 80% LTV; 1.25x DCR (Standard Market)Loan Sizing: 70-75% LTV; 1.30x DCR (Small Market)Loan Sizing: 70-75% LTV; 1.40x DCR (Very Small Market) Amortization: 30 YearsLoan Term: 5-10 Year Term (Fixed), 10 or 20 Years (Hybrid ARM)IO Term: Partial Term IO (80% LTV; 1.20x DCR); Full Term IO (65% LTV; 1.35x DCR) (Top Market) IO Term: Partial Term IO (80% LTV; 1.25x DCR); Full Term IO (65% LTV; 1.40x DCR) (Standard Market) IO Term: Partial Term IO (70-75% LTV; 1.30x DCR); Full Term IO (60% LTV; 1.45x DCR) (Small MArket)IO Term: Partial Term IO (70-75% LTV; 1.40x DCR); Full Term IO (60% LTV; 1.55x DCR) (Very Small Market) Rate Types: Fixed & Hybrid ARMRate Lock: Rate Lock @ ApplicationNon-Recourse: Non-Recourse w/ “Bad Boy” CarveoutsPrepayment: Standard - Greater of YM or 1.00%Flexible Prepay: Flexible Options – Stepdown & Extended Open/Par Periods Rate Buydowns: Yes – Rate Buydowns Available Up to 2.00%Assumable: Yes – Assumable LoanCash Out Refi: Yes – Cash Out Refi OK FANNIE MAE SMALL LOANLoan Purpose: Permanent Financing (Refi & Acquisition) Loan Proceeds: $1,000,000 - $9,000,000Loan Sizing: 75-80% LTV; 1.25x DCRAmortization: 30 YearsLoan Term: 5-30 Year TermIO Term (PTIO): Partial Term IO @ 80% LTV; 1.25x DCR IO Term (FTIO): Full Term IO @ 65% LTV; 1.35x DCR Rate Type: Fixed RateRate Lock: Rate Lock @ Loan CommitmentRate Structure: Treasury Yield + SpreadNon-Recourse: Non-Recourse w/ “Bad Boy” CarveoutsPrepayment: Yield Maintenance; 3 Mos @ 1.00%; 3 Mos @ ParFlexible Prepay: Flexible Prepayment Options Available Escrows: Taxes, Insurance, Replacement ReservesRate Buydowns: Yes - Rate Buydowns Available Up to (1.25%-2.00%)Assumable: Yes – Assumable Loan Cash Out Refi: Yes – Cash Out Refi OK

Be long hard assets, and long cash against forces that make you blink.

I’m active duty Air Force with four properties.

I still consider myself fairly new to this world, and I can say with 100% certainly the biggest battles are the internal ones, and this industry has given the pleasure of being forced to address several of my short comings, and continue to address them all the time.I find I get the most emotional when I get reactionary, so my constant focus is around honing and suppressing reaction as a whole both internal and external.Thanks for taking the time to write this up.