Purchase price: $420 Small multi family unit What made you interested in investing in this type of deal?

The city estimates it will receive $320,000 in fee-related revenue over the next four years.The ordinance also limits how many “type 2” short-term rentals can exist within a certain area.

Mortgage lenders have to sell these loans on the secondary market to avoid massive interest charges to their short term (warehouse) lines of credit, and allow for the liquidity needed to continue lending to the next guy... its kind of just how their world continues to go around. its rare these types of things happen, but it does happen. 

These are the rough numbers of a deal I’m currently underwriting:Purchase $78kRehab $40kARV $180kWhat do hard money lenders require in terms of types of coverage and amounts for this type of deal?

Whether it is Single-Family homes, Multi-Family homes, mixed-use, or any other type of property, with such high demand in Toledo, it rarely stays on the market for a great length of time.

This type of loan will be recorded in your name, and you can change the deed to your LLC after it has closed.

Having a LLC (a type of business entity) and setting up an umbrella policy (provides a specified amount of liability protection) are decisions you should make independently of one another.As someone who has previously worked in the insurance industry, you will want to do the following:1) Alert your insurance company that this house is now a rental.2) Make sure have this rental home covered for over $1 million in liability coverage.

Shoot me your email I send you one I am typing an offer up for a client now.PS They are using a 10% second home loan, so it is leveraged. 

I would suggest speaking with a loan officer who can break down the math for you to see the differences between these types of acquisition styles.

What types of properties do they usually handle?