There is a distinct difference in the law between short term and long term rentals. 

As always, read ALL the terms before you sit to close.

Hard money loans can be an option, but they often come with high-interest rates and short repayment terms.

I’m a first-timer, so bear with me if I sound a little clueless – I’m still figuring it all out.Here’s the scoop: I’m looking to purchase a long-term rental property within the $300-350k budget range.

Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

We have couple turnkeys, and couple of BRRRs that we did so far (all are single family residential properties with long-term tenants).We are interested in exploring commercial real estate, and wanted to get all of your help in getting started. 

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

Borrowers should always shop around, especially in the hard money space where it is so easy to quickly get preliminary terms over the phone.

What specifically are you looking for in terms of investing? 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000

I am the managing and credit partner on this investment. We have had the same tenant in this property since we...