In the end we were able to get a large HELOC with good terms in less than three weeks.

The risk is, if you don't give it up and let it go to a foreclosure and they have to pay attorneys with money out of their pockets.2.

Welcome to Bigger Pockets!

@John Watson  Welcome to Bigger Pockets.

Not sure what it means yet but feels different from the past three years where the market here has absolutely been on fire.  

Welcome to Bigger Pockets!

I, on the other hand, lost money on one deal and made three times more than he did on another that ended up burning down in a wildfire.

So if your payment is $1,100 and you add the above numbers to that, your cost to properly maintain your asset you and your wife worked so hard to acquire, it will put you in a negative cashflow.Most investors look for at least $100-$300 cash flow after figuring all the above.I would encourage you to check out Bigger Pockets Rental Calculator and do a little more searching before you jump in to the above deal!

Hey ya'll, I had a few conversations with a friend (not here in Bigger Pockets) who has a studio condo in Seattle and SF that she exclusively does Corporate Rentals on.

I listen to the Bigger Pockets Podcast every night and learn something new!