So, do I bother?

My wife and I purchased our first rental property here in Maui in June of 2023 to use as an STR as it was a consistent market, numbers worked, and we live 5 minutes away from the property so self-managing made sense! 

For example I am not a sales person so I brought in a rockstar to do that for us.  

So the current situation I have is what route to take, I am currently looking a potential townhome for 500k in the salt lake valley 5.1% interest rate on a FHA with 3.5 down. 3 bed 3 bath, unfinished basement.  

Learned so much on this project from start to finish.

So if you are like me, the hair on the back of your neck stands up with that info. 

I'm not a lender, just speaking from experience on the deals I've brokered so far. 

Advantages: No monthly payments, so all your capital stays in the project.

That is why you tend to see builders offering such a big "Builders Credit" it’s because it's "Ghost Money" it really doesn’t matter or exist to an extent.A builder can go into an area build 20-30 homes for example, buy the first 2-3 homes paying top dollar so they can set the market sales.

How has it been so far for you @Brandon Spaulding?