All Forum Posts by: Abraham Shamosh
Abraham Shamosh has started 21 posts and replied 46 times.
Post: Own One rental property ready to scale
- Posts 46
- Votes 13
HI All,
I currently own one rental property with about $70k in equity on the home since the value increased. That being said ive spent most of my savings on buying that property (down payment & closing cost) and im struggling with figuring out how to finance the next one as I dont have another 20% down payment ready and my DTI wont qualify.
Any advice would be appreciated Thanks!!
Quote from @Eliott Elias:
Subject to and owner finance with sellers who have no equity but locked in a good interest rate.
What are some creative financing strategies you guys have been implementing during these challenging times and how much % down did you put?
Excited to hear you're response
Post: Any websites with population data
- Posts 46
- Votes 13
Hi,
I'm looking for a website where I can view population increase, income, job growth etc... Anyone know of such a site with accurate data?
Post: Mid term rentals to nurser etc
- Posts 46
- Votes 13
Quote from @Lauren Cote:
There are a few strategies you can use to help mitigate vacancy rates for mid-term rentals in Miami-Dade County:
- 1. Set competitive rent rates: Research the rates of similar properties in your area to ensure that you are pricing your rentals competitively. This can help you attract tenants more quickly, which can help reduce vacancy rates.
- 2. Offer amenities: Consider offering amenities that are attractive to travelers, such as a fully equipped kitchen, on-site laundry, and Wi-Fi. These amenities can help make your rentals more attractive to potential tenants.
- 3. Market your rentals: Use online platforms and social media to advertise your rentals and reach potential renters. You can also consider reaching out to local hospitals or medical facilities to let them know about your rentals and the benefits they offer to traveling nurses.
- 4. Offer flexible lease terms: Consider offering lease terms that are flexible to accommodate the needs of different types of renters, such as traveling nurses who may only need a place to stay for a few weeks or months at a time.
- 5. Offer incentives: Consider offering incentives to tenants, such as a rent discount or a move-in bonus, to encourage them to rent your property. This can be especially effective if you are trying to fill a vacancy during a slow rental season.
- 6. Manage your property effectively: Being proactive in managing your rentals, including responding promptly to inquiries, maintaining the property, and addressing any issues that may arise, can help you attract and retain tenants and reduce vacancy rates.
By following these strategies, you may be able to reduce vacancy rates for your mid-term rentals and improve your profitability as a landlord.
Here are the GSA rates for lodging in Miami Dade County:
Thank you very helpful.
Post: Do commercial loans take credit into account when approving loan?
- Posts 46
- Votes 13
@mark from
@Mark Fein 620
Post: Do commercial loans take credit into account when approving loan?
- Posts 46
- Votes 13
Hi,
Recently my credit took a big dip and I was wondering if there are any mortgages to purchase a town home rental based on the deal and not on my personal finances or credit.
Post: Mid term rentals to nurser etc
- Posts 46
- Votes 13
@Venecia Lamar with the month vacancy how are you still profitable? That’s my biggest fear.
Post: Mid term rentals to nurser etc
- Posts 46
- Votes 13
Hi All,
I own residential rentals in Miami with long term tenants, but was recently looking into mid term rentals to rent to traveling, nurses, etc.
can anyone please share there experience regarding occupancy rates and other information? Thanks
Hi,
Curious to hear where everyone is finding properties to buy these day, please share and let’s make this an active post.