We purchased the property for $793,000 in 2020 for cash, and then financed a mortgage for building the second house later that year for $450,000 at 3% on a 30 year.The property is worth about $1.8m now, with a mortgage balance of $420,000.  

What thoughts does everyone have regarding buying a long term rental in a new build neighborhood?

We make loan at a total cost to borrower of about double what “A or B” risk borrowers would pay for  bank financingLoans are 1st liens, short term (12 - 24 months) at no higher than 65% loan to value.Hope this adds clarity 

I think that down here, you will find more neighborhoods that are transitioning for the better that you can add value to and get cash flow as well as appreciation. 

Purchase price: $167,000 Cash invested: $8,000 My wife and I bought a duplex in 2019 -- we got an FHA loan and negotiated the seller to pay $8k towards our closing costs.

One of our handymen is a porter at another co-op with similar guidelines and he reports that the majority of unit owners find ways to keep their apartments rented long-term vs. moving back in.All the best!

Because they think you’ll sign, brokers like to throw all sorts of ridiculous terms in their NDAs.

Hey all!  just looking to get some advice on the best companies out in Denver for homeowners insurance on our rental. Thank you in advance!

Purchase price: $205,000 Cash invested: $27,112 Bought for $205,000 in the Maine-Endwell school districtMonthly rent (pro forma with 3 month stabilization) $4,800Taxes: $9,238Insurance: $2,642Gas/electric: $0 Water/sewer: $2,451Total expenses: $14,280 I used a conventional 10% down.

Keep in mind, even with this strategy, reassessment might still occur in the future.For a 100% seller-financed deal, ensure the terms clearly state the tax responsibilities and get expert legal advice to protect your interests.