Hi Steven, the best hard money lender will meet the following:1. be willing to work with you (ie lend you the money)2. give you the best rate and terms3. require minimum paper work from you 4. minimum collateral5. they have deep pockets Once you find a good hard money lender, make sure you treat them right.

Your Renter may have not paid for two years and now had to start at the rate from three years ago...insane stuff. 

You can get an LLC but you will get better rates if you purchase the investment in your name.

A good property manager can bring you quality renters that pay market rate.

Great time to expand values are high, rates are going to start to fall again in the next 60-90 days.

Share your assumptions below for a tailored model and insightsNeeded: Rent, Rental Growth, Occupancy, Interest Rate, Loan Amount, Property Tax, Maintenance Expenses, Purchase Price, sum of all Closing Costs (including commission), HOA Fees, and Renovation Costs.

Is it true when underwriting small storage facilities that you should use a high cap rate between 12% - 15%?

You can get up to 75% of the value, but you can get a lower interest rate if you only take out 50 or 60% of the value.  

They will look at sales comps for similar properties and the price per sq', they will look at the replacement cost of the property, and they will evaluate the property based on the NOI and Cap Rate. 

Which shows you the downside of today’s high rates.