18 April 2024 | 12 replies
Currently own my primary residence and 2 investment properties are a beach condo (short term) and single family home (long term rental).The problem is I run a successful business and have no time to do the research in new markets, deal flow, upgrades, making sure cashflow, property management, etc.I am also not a real estate professional.
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18 April 2024 | 8 replies
If an investment property, there non-warrantable DSCR loan options.Some details:Loans available for purchase, rate and term refinance (no cash out) and cash-out refinanceCredits score down to 620LTV are up to 75% for purchase and 70% for cash out.Rate buydown feature available.DSCR (lower of gross rent lease or Form 1007/216 rent divided by PITIA) as low as 1.0x.For experienced investors (one year of investor experience and own home), short term rentals can be structured off of 12 month short term rental history with 20% expense factor.
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19 April 2024 | 7 replies
As to a realtor...I had found one that is investor friendly but has just opened a new short term rental himeself and has been to "busy" all of a sudden to help me with comps.
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18 April 2024 | 14 replies
For example, we have a client who is in a market where they rent the basement out on a short term basement and self manage.
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20 April 2024 | 4 replies
The payment they make goes toward November and next one December…Now as the lender you can also say “we are only accepting full reinstatement” which is November through April and if they send money you can send it back or hold in escrowThis is why a servicer and attorney come into play because I have seen people go to foreclose and prior to foreclosure accept one payment and in that state you cannot then foreclose.
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20 April 2024 | 6 replies
We allow single night stays since we are competing with hotel/motel rooms given our property is a 1BR/1BA (no kitchen or laundry).
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18 April 2024 | 1 reply
I have a property in El Paso, TX on short term rental.
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18 April 2024 | 1 reply
⚖️ HOUSE BILL 5438 - HB 5447You may be aware a new slate of short-term rental bills was introduced this Legislative Session by Representative Andrews (D - St.
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18 April 2024 | 10 replies
In a similar fashion, if you can imagine how much landscaping and underground infrastructure is in a golf course as compared to the clubhouse, that will give an indication of why an extremely high percentage of the property's value is allocated to the land improvements.