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New, need some solid advice/options on property
We have just completely renovated a SFR (from the gound up, everything new, foundation, roof, HVAC, etc.). Our intent was to sell, but we are not having luck and need to move in another direction, carrying costs are draining us. Our construction loan is nearing the point we need to convert the loan. We are exploring keeping the property, at least for a while for a STR, already know ok per city regs. Prefer not to rent, but open to any other options you can offer. We are exploring refinancing with our bank, however, I feel there are probably better options out there, along with rules with this type of investment, holding times, etc. that we just don't know. Help me, tell me what I don't know that I need to, and any reputable contacts for financing options, etc. I can research. Thanks in advance.
Quote from @Regina Hill:Hello Regina. I'm going to send you a DM to our DFW Investors group that may be able to help with this situation.
We have just completely renovated a SFR (from the gound up, everything new, foundation, roof, HVAC, etc.). Our intent was to sell, but we are not having luck and need to move in another direction, carrying costs are draining us. Our construction loan is nearing the point we need to convert the loan. We are exploring keeping the property, at least for a while for a STR, already know ok per city regs. Prefer not to rent, but open to any other options you can offer. We are exploring refinancing with our bank, however, I feel there are probably better options out there, along with rules with this type of investment, holding times, etc. that we just don't know. Help me, tell me what I don't know that I need to, and any reputable contacts for financing options, etc. I can research. Thanks in advance.
Great, I'll look for it! Thanks!