Very limited information is being communicated by sponsors, particularly those that used high leverage variable rate loans to acquire in 2021-2022, so LPs are commonly feeling left in the dark.

The highest insurance rates in the country are in Florida right now, but I still like the state in general.

I make secured and unsecured loans Loan amount: $2,000.00 – $20,000,000.00 Loan duration: 6 months – 30 years INTEREST RATE: 5.95% ANNUALLY Loan purpose: ALL Loan Type: ALL LTV: 85-95% NO PRE-PAYMENT PENALTY, FAST AND RELIABLE FINANCING.

Their fees/rates are usually better and the service more personal.

Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?

We may see that change in 2024 as rates are having an effect on demand, but not as much as I'd like to see.

The long term rental will probably have the best interest rate and highest cash out amount if you are looking to do so.

Not shockingly, this happened when interest rates hiked up.

I have a deal I am currently looking at in Chesapeake Virginia, and I would love your thoughts on this:12 units 1bed/1bath apartment built in 1912 (renovated in 2018). 9536 SF, the asking price is $995,000 at 8.07% cap rate with a NOI of $80,106.

Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.