All Forum Posts by: Mike Dmuchoski

STRs are saturated here and failed STRs are starting to saturate the MTR space.  With continued population growth and industry, LTRs are great for the long play but can be difficult to cash flow.   

We've had good luck with co-signers but we're generally doing it for MTRs.  We find that mom and dad are making sure their kid is paying since they're on the hook too.  To me, it's a good sign that mom reached out directly so she isn't taken by surprise later.  

Welcome Miciah! You could go FHA and live in the home for a year before renting it out.

Through loan assumptions, we're helping investors close long term rentals in Phoenix, AZ at "yester-year's" interest rates.  Avoid the risk of taking on a sub-to deal.  Enjoy cash flow today plus the upside of appreciation tomorrow.  Reach out, I'm here to help!  

@Amanda Nelson

Hi Amanda, it's true that an investor can assume a VA loan. It takes some patience and perseverance but with the right team, it does work. We do them here in Phoenix market.

@Damein White it will be market specific. In the Southwest where I am, central HVAC is expected. I recently purchased a home that didn't have heating/cooling on the second floor so I was able to negotiate a discount. By adding a mini split, I increased the value for sure, not to mention increased the comfort of my STR guests.

Good stuff, AJ. The key takeaways for me, because they aren't the most obvious, are the benefits of front end loaded amortization but also important to realize that the seller will lose their future eligibility (in the case of VA).

Great detailed analysis. If the current as-is is $80k, then maybe consider doing #1 and selling it vs renting it. Putting in $35k to get to an ARV of $125k seems like more work/money/headache than it's worth.

Nice breakdown and a great deal. Thanks for laying it all out for us.  

Hi Anya, we have a few MTRs in Mesa. Zachary's advice is spot on.  We receive most of our leads from Furnished Finder with an uptick in Airbnb traffic for the peak winter months.  Best of luck to you.