Quote from @Daniel Bullock: Im new to the RE game, so this might be a basic question - what’s the usual timeframe private investors expect to get their money back?

Absolutely, Steve private money has become a real game changer, especially in today’s market where speed and flexibility can make or break a deal.

The market is definitely shifting, but it’s doing so gradually.Buyers are still out there — as long as the numbers make sense, there will always be buyers.That said, a lot of wholesalers have exited the game since the hedge funds stopped buying almost a year ago.

The 2025 bonus depreciation change is definitely going to make both property types worth a fresh look.Curious what kind of ratios you’re seeing lately between land vs. depreciable assets on condos seems to vary a lot by market.

Rates and fees tend to be higher, and guidelines can vary quite a bit from lender to lender so flexibility and clear communication are key.What I personally like is how they allow deals to stand on their own merit.

There are other players in the game to compare with like Kenny Bedwell at STR Insights or Bill Faeth's coaching.

The main difference with lenders is the points, rates vary slightly and most importantly the experience.  

Now results vary WIDELY by market, but heres a general benchmark to get you started.

When we screen properties, we're using the historicals of AirDNA but only those that are true like kind (takes more efforts yes but takes out the risk) and hten we'll also look at the future (by going into Airbnb, VRBO, etc.) to look at like kind properties and neigbhrod to weigh their nightly rate, future occupancy and whether they are operators (lots of reviews and playing the game at a high level on their listing)  or mom and pops (less than 10 reviews and an overall bad listing and management).

Your mileage will vary.