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24 June 2024 | 3 replies
This will be subordinate to the existing FHA loan, but you’ll need to qualify based on your credit score, income, and debt-to-income ratio.Home Equity Line of Credit (HELOC): A HELOC could also be an option, offering flexibility in how you draw and repay funds, though it might come with variable interest rates.Balloon Payment Loan: This type of loan can offer lower initial payments with a large lump sum due at the end of the term.
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29 June 2024 | 7 replies
I would say if you do post it be as detailed as possible minus borrower info re: what's the collateral exactly (estimated value, condition, etc), outstanding balance, state where it's held, terms, performing or non, 1st or 2nd position, payment amount and what you're asking price wise.
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27 June 2024 | 14 replies
People invest in all classes of neighborhoods and do just fine, as long as they know what they are getting into and have proper expectations.
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30 June 2024 | 54 replies
They've been waiting long enough and are tired of waiting.
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29 June 2024 | 2 replies
There are lots of ways to delegate what tenants are responsible for, and whichever way you choose needs to be laid out in the lease.My tenants are responsible for yard maintenance, and it is explicitly laid out in the lease terms there is no confusion.
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27 June 2024 | 3 replies
I'm particularly passionate about Mid-term and Long-term Rentals.Outside of real estate, I enjoy reading and going to concerts.Excited to learn and connect with you all!
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26 June 2024 | 38 replies
I do not want to go into another vacation market but rather a metro area with a more diversified economy again just to get into a different type of asset.That being said I do want to continue to short term rent the next few properties we get at least in the first few years of ownership in order to increase cash flow to combat these higher prices and carrying costs before potentially converting to more passive long terms down the line.Therefore I am looking for markets that 1) have a decent draw of visitors year round 2) have regulations that allow strs in some parts of the city 3) Are in growing cities in the west or south.Below is a list of markets I have identified as potential places to look and I was hoping to get some insight from either other investors doing the same thing or agents/investors in any of these markets on whether this is potentially a good market to explore or not.1) Salt Lake City (this is right at the top of my list due to its proximity to ski resorts, expanding of the airport and long term strategic business planning of the area but I have very little knowledge of this market)2) Denver 3) Phoenix (used to live in AZ and like the fact that the state of AZ seems to look favorable on strs)4) Tucson (see above but lower home prices/potentially less appreciation)5) San Diego/LA (these are attractive because of their proximity to my home in Irvine)6) San Antonio (love that it is very close to the booming Austin and feel that this is a market that could see some real growth in the future)7) Tampa/St Pete (I have always been very interested in this market for both short term and long term rentals)8) Raleigh (have invested in Charlotte and love NC but again very little knowledge on this area)Any insights or advice on any of this would be greatly appreciated.
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30 June 2024 | 9 replies
If so, there would never be any lawsuits in the short term rental world.
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28 June 2024 | 17 replies
But I would have the access to the MA MLS also, that can be helpful in terms of wholesaling.
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29 June 2024 | 3 replies
@Mark Peeples it's buy and hold and rent out to tenants as a mid-term rental unit.