Rentometer shows lower comps, but I don't know this area.Your rent could very likely be fair market rent considering its finishes, but because it is so secluded it might take a long time to fill

That juice may not be worth the squeeze for most.As a result, the majority of investors are looking at BRRRR's for long term buy and holds in Detroit.Happy to talk through the nuances or send you some Detroit specific resources.

I've rented two homes over the last few years, and I'm interested in slowly buying more single-family homes and keeping them long-term.

I'm working with a reliable contractor and investing in quality materials for the master bathroom, kitchen, and guest bathroom renovations, which I hope will position the home for potential insurance discounts.Benefits of Lower Insurance CostsBy strategically planning and executing renovations during the remodeling process, I'm hoping to lower my insurance costs and save money in the long run.

There is no such thing as finding a good contractor for the long-term and it's not always because the contractor is the problem.

A home equity loan gives you an option of having fixed debt which is safer if you plan on using it to buy a long term rental buy and hold scenario.

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I am also looking to start to transition into long turn multifamily properties.feel free to shoot me a message or if you know of anyone that would like to connect.

We are currently using RentRedi but there is a long lead time from when the tenant pays to when the money is deposited into our account...sometimes up to 10 days.

Hey @Trevor Duke,Are you looking to find a long-term tenant?