So, of course greed, but also inflation, and labor rates, and all new costs associated with the COGS for any product is passed down to the consumer/borrower.Most of these loans are securitized so the payment streams are actually not theirs but the capital partners of the lenders that buy the packaged notes. 

Not a fan of D.C. multi family right now prices are high with rates very hard to cash flow and unless you are playing in the 1.5mil+ you are in at best borderline neighborhood’s & also competing against a ton of newer apartments in most cases.

They only owe about $270,000 on a 1st lien that dates back to 2021 which is at 2.875% Interest and will remain at that FIXED Interest rate for 4 more years.

Use the top three or four discriminators so applicants can screen themselves.Then it would be best if you had clear screening criteria yourself.

All the best!

I lived in Indianapolis I would like to move some day to North Carolina any recommendations of the best cities to invest or zip codes.

I think folks are waiting to see what happens with the election and interest rates. 

@Yolanda Salas thank you for sharing what worked best for you :-)

Interest Rates have dropped slightly and are currently sitting at 6.49% on average for a conventional loan.  

Adjust rates seasonally and consider offering discounts for longer stays.Guest Communication: Clear and prompt communication is key to positive reviews.