Currently submitting final plans that include Architectural and subdivision approval.

3) If I can find a private money lender to do a 2nd mortgage, they will need a high interest rate.

Where these numbers are found, there is a very high rate of rent actually being paid.A little more about the area:We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

The closing costs and fees seem very high.

For high bonus depreciation, consider exploring new construction projects, which can offer up to 100% first-year bonus depreciation.

Our values here are high, and generally continue to go higher. 

The underwriter for a HML company has a list of required due diligence that needs to be collected before a loan can even be submitted to the asset management company or hedge fund they partner with for approval – meaning it could take a few weeks to close if you can get your broker the required docs (it’s usually referred to as the conditional approval process).

What is the quality of their work?

As the barriers to entry for obtaining a short term rental permit on the Oregon Coast or high potential areas of California increase, that should bode well for operators of short term rentals in some of those areas.

Velocity of money, or speed in which you can complete a BRRRR investment and repeat, is key to success, and refinancing with the shortest seasoning requirements is highly important.Loan terms and interest: Cash flow is also an important consideration for a refinanced rental property, so attaining a low interest rate, as well as other aspects of loan structure (term, amortization, or interest only, etc.), plays a big role.Generally, there are three main refinance options for BRRRR method investors: Conventional loansBank/credit union loansDSCR loansConventional loans are generally defined as loans originated under GSE (Fannie Mae/Freddie Mac) rules and guidelines and securitized.