I have quite a few STR's that were decimated by flood/storm surge with Helene, and then Milton came to finish the job with wind.

I have quite a few STR's that were decimated by flood/storm surge with Helene, and then Milton came to finish the job with wind.

If not, I would probably look at selling now or finding an equity partner to bring some cash into the deal to get it across the finish line.

I refinanced as soon as I was finished with my renovation of my duplex when I used a 203k on it.

Contract for deed is a type of seller financing where your payments go directly towards purchasing the property (essentially a mortgage but held by the seller rather than a bank) and once you finish all the payments the property becomes yours.

Ended up having to find new folks to finish the job, which was a lesson in vetting and trusting your gut.

We have the capacity to go vertical, but we're open to selling permitted lots, developed lots, or finished homes.

In my experience, if a 3 bed in that area, with comparable size and finishes is only getting $1200, you will get $1200, not $1800.And to James comment: while I am all for treating all tenants as people first, owning and managing properties is a business first.

Finishes are modern and attractive.

Assuming you have enough to pay the loan off in its entirety, the best thing to do  in my opinion, is to jump in the amortization schedule to a point where it will take X years for the tenant to finish paying it off.