I’m also being offered a 3.5 80 LTV cash out refi Isee the merits for both, HELOC is flexible and I can be cash flowing more right away and I can use it when I need it, but I’m scared of the adjustable ratesThe cash out refi seems appealing because I can lock In the 3.5 rate (considered my primary) and I can cash flow close to 1k after expenses, but I don’t have any deals lined up.Not sure if I’m going to use that lump sum to buy another Brrrr SFH or use it as a down payment for a bigger multi family Goals are to net 100k a month in passive income and to grow my portfolio relatively fast.

This property is in a historic yet growing area of our downtown and would appeal to staycationers, those coming from out of town for an NHL game (post-covid of course), coming in for shopping, visiting family, or even coming in for an exteded trip for medical treatment.

I’ve experienced great success with an Airbnb rental in Brooklyn I ran for 6 years so my plan is utilizing the STR/vacation appeal of the location for affluent couples or solo travelers looking to be in the middle of south beach.

We have submitted these new comps, and an overview of the reasons we think the other comps were poorly chosen, in an appeal to the bank, and are waiting to hear back.Normally such a low appraisal would give us pause about our offer on the property.

After we closed on the building, we discovered that the sprinkler system already installed was for visual appeal only (a plumbing line was NEVER hooked up and the pipes were made of PVC).  

What normally is more appealing to a renter, a house or an apartment?

Photograph the old door and the new one. 

The only reason the house hack doesn't appeal to me is 1) I am a single mom, and my parents watch my kid so I stay within a reasonable distance to them and there are no duplexes near us, plus moving repeatedly with a kid is not fun nor ideal for me personally. 2) I just had a new home built in 2019 and plan to keep this house long term.I live in Arizona but have looked at investing in GA or just a more affordable market than what we have here.

While it’s not a landlord friendly state as far as eviction goes, the tax benefits and government support for renters makes it appealing to me.

Because we closed in 2019, the school system appealed my taxes to be raised on a value at $1.7M and won.