If the property appraises for higher than the offer price, ask to increase to appraised price or 2% higher and get a closing credit of an equal amount.3.

I have about $250k cash and $1.4m equity line of credit at 6.5% interest.

Any major lessons learned you wish you knew starting out?

Between riskier duration, inflationary impacts, credit and delinquency risks, and life event related factors, there are many more considerations that would need to be priced into this longer loan. 

Offer him the majority part of the deal and you learn along the way.

The Results:The phone rang off the hook with first time home buyers, buyers with dinged up credit and other who were looking to live in the area. 

Yes — unless you systemize it.You need:• Clear house rules• Weekly or bi-weekly cleaning• Locked individual bedrooms• Keyless entry• Written expectations for noise, guests, chores• A screening process that tests for compatibility, not just credit scoresIf you don’t have structure, the house becomes chaotic fast.4.

Longer mortgage terms mean slower equity accumulation, higher borrowing costs, and potential conflicts with legislation stemming from the 2008 financial crisis, setting the stage for a major debate if this idea comes to fruition.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Tampa, FL - several major hospitals, MacDill Air Force Base, professional sports and universities and colleges.