Hi All, We're considering our first private loan and have calculated our costs based on an initial conversation with the investor.

Like others mentioned above STR's have become quite tricky but mid-term is still fair game and not subject to the same restrictions.

It's also very important to know the wants/needs/position of your buying audience.I find that buyers are much more willing to get into a bidding war, and over bid on a property as opposed to paying their buyers agent.

I recently watched a video where an investor bought a mortgage loan at a steep price, with an exit strategy that hinged entirely on getting the borrower to agree to one specific term.

This rate for me was 3.3% on a 5 year balloon with 20 or 25 year ams.

.### Other Considerations- **HELOCs (Home Equity Lines of Credit)**: You can take out a HELOC on each property or on a few properties to pull out equity.

Sounds like a cool idea though...the only place I've seen them is outside the US on Travel channels and such.

Hey JerryWe do not use this in all of our units, but have had some clients insist on them over the years. 

FHA loans are only used for owner occupied properties. and to echo above, there is NO seasoning period for a rate/term refi on conventional loans, and vast majority of loan products that can be used on investment properties. 

Background: I offered on a condo (still a newbie to investing myself, although this would make my third STR and second in one market), and the same day a second offer came in, higher.