In Myrtle Beach, the sfr’s weathered the COVID storm far better than condos.  

., when those black swan events show up derailing your house in a weather issue.Guy is right, talk to an attorney if you need to really do this.

If that’s the case, and you have an enemy in that small a group, your path of least resistance may be to reset and try to get some empathy flowing your way.

Currently, I have a single family property that I closed on in early 2024 and am working with a property manager to find renters (was told that this is a somewhat slow time of year in Minnesota due to the weather, but should expect more movement in the coming weeks).I used a HELOC for the down-payment and a conventional for the other 80%.

The weather is warm, the women are beautiful and the beer is cheap.

There are lots of big $ pitfalls that you can encounter: second mortgage foreclosing, HOA foreclosing, other title issues, IRS liens, collapsed sewer pipes, burst water pipes from improper weatherization, to name a few.Start hereAbsolutely try to contact the borrower pre-foreclosure.  

Then in a worst case scenario if appreciation stops or, worse, prices drop, you can weather the storm because your properties are still making you money.If you want to use appreciation in your return calculations, there has to be some sort of risk factor that goes along with that.

. - I'm not actually a fan of the newer builds as everything isn't built to last and a burst pipe, strong weather, meth-head who sells copper, etc. can do catastrophic damage more easily.

SOOO many of you come here with mere opinion, and what they are telling you makes ZERO sense, so many of you are failing misserably at this... and NO ONE questions those opinions and everyone readily accepts them, votes for them and tries them...Then someone comes along with actual proof and logic, intelligence and common sense.. and HE gets the doubt, the skeptism, the resistance, the challenging remarks and the disbelieve.It is truly fascinating to me.People make decisions based on emotion, ego, stubbornness  and habit... not on facts, data, evidence, or intelligence. 

There has been additional schools and plants built here, we have 4 seasons, and for the most part our weather is not extreme.