All Forum Posts by: Denver McClure

Hey @Ray Mcalmont, I'd recommend speaking with @Harrison Sharp. I know he has several clients who invest in land around the DFW area.

Hey @Jay Levy, an easy option is to use keycheck to run your background and credit checks. You can select the option to have the applicant pay for the service. Once I receive the reports, I usually have a zoom meeting with the applicant, ask for two references, and chat about their employment. It's important to get to know the applicant before you just sign off after a fair credit/background check. I created my own tenant tracker to rank each applicant following those meetings. Everyone has their own process, but I recommend starting in excel with a unique ranking system based on the inputs that concern you the most.

Hey @Renny F., I'd recommend chatting with @Whitney Nash. 

Hey @Niboom T., we have a lender in our network that just helped a client with a similar situation. Feel free to PM me if you want to chat.

@Stanley J Black might have a few carriers in OK for you.

Hey @Nick Gupta, reach out to @Stanley J Black. He does a ton of business in NJ and TX and can help you out.

Hey @Jordan Harrill, we have several lenders in Indiana that can get this done. Feel free to reach out if you'd like to chat sometime.

Hey @Michael Lee, we just completed another six-plex loan in NY last month with similar terms for our client. I'll send you a PM. 

Hey @Dawn W., this depends on a few factors. Do you want to manage an STR? You enter the hospitality industry when you do so, and it comes active work and additional expenses for that increased income. You'll need to consider local Hotel Occ Tax to determine what you'll pay each month, and if the city/HOA is becoming more favorable or hostile towards STRs. If you see more restrictive measures being enforced on STRs in that area, then it might not be the best long term option for your portfolio. However, if you do evaluate a property as an STR, run the numbers as if it were a MTR. A MTR will give you the flexibility to keep the unit furnished, get a higher monthly rent rate, and avoid HOT.

Feel free to reach out if you'd like to go through the numbers together. Happy to help!

Hey @Mike Morehead, we can help with this. I'll shoot you a pm.