Back in 2008-2010 I had weekly conversations with ballooning loan holders that often ended in tears.  

Thanks to BP for the incredible amount of content available, I've learned so much since I stumbled onto this website a few months back and know it'll be an invaluable resource going forward!

The markets I have invested in are drivable tourism driven markets (think beach and mountain towns), and while of course we got hit hard with Covid cancellations, these types of markets are so dependent on tourism that they have been some of the first to get things opening back up (I’m in one TN market and the FL panhandle), and bookings are steadily rolling back in.

I went to 2 of the Rich Dad affiliated seminars back in the day.

Now that you know how to calculate the current value or potential purchase price on the property...let's talk about determining ARV on this asset. 1) Do a complete rent comp analysis to determine if there is room to push the rents higher2) If there is room to increase rents...then you can start to determine what the value of the property would be after increasing the rents. 3) This will then allow you to back track to determine how much you would be willing to spend per door on CapEx improvements to achieve the rent premium.

(almost clear) You borrow $100k from your parents, unsecured, and use it to buy a ready-to-rent rental. 6 months later, you get a mortgage for $100k and pay your parents back.

What really upset me, is last night when I took my dog outside, I found a note on my back porch from someone asking me to call them about my house for rent.  

The owner may have trashed it on their way out to "get back at the man" or maybe they stole all the cabinets, doors, copper pipe and fixtures to fund their meth addiction.

Not only do I have to do the quiet title against the heirs, but also the city and school district have a lein on the house for all the back taxes that led to the sale before the house even belonged to me, and I have to pay to have this quiet title brought against them to have the lein released.  

Hi Kent, was the note originated by a financial institution or a seller carry-back?