I’ve been hosting for three years and recently encountered an issue I hadn’t faced before: an alteration request to check out earlier during a stay.

So to that end even though I think of myself as private I am in the business so I am a HML  the other folks posting on this site are all HML.. to me a PML is just that someone who is private and NOT in the business they they do a few deals out of their IRA for solo k a year and generally to people they know..

I was hoping to structure a deal that involves paying the seller every month and then a balloon payment in 5 years (when I can get an 80% LTV cash out refinance to put a mortgage on the property without having to put any money down because I'll have built up at least 20%).

Like you, my wife and I were trying to figure this out about a year and half ago.

@Leo Gregoire20 years ago it was over leverageTen year ago it was Over renovated properties in areas that did not need to have upgraded finishes.Today it’s being patient.

I know the theory but would love a chance to meet people who have been doing this for a few years.

Now, as I exit this investment, I’m excited to revisit this journey with you 3 years and 8 months later.Acquisition:In December 2020, I closed on the 44-unit property for $1.725M.

And of course, that money is already spent so who knows how they'd round up the cash to return to those of us they gouged last year anyways.

There are 30 year fixed rates or 40 year fixed terms with 10 years interest only before converting to a 30 year fixed.

We were super lucky to have hit relatively low rates (15-year 2%-3% range) that we would not see again today.The Dallas property is now rented, giving a almost zero cash flow over a 15-year fixed mortgage, until the recent HOA increase pushed it into the negative side slightly.