9-Step Guide to Renting Out Your Home
Many clients we work with are new investors moving from one home to another. They need to rent out their current residence to qualify for a loan on the next one. To save costs, many want to try self-management. If this sounds like you, we offer a detailed step-by-step guide to help you rent out your home on your own.
Turning a $10,000 down payment into a $1,400,000 complex
In this deal we helped the buyer 1031 exchange their duplex for a $1,400,000 property that consisted of 8 apartment units and 38 storage units. The buyer was able to do so while starting with only $10,000.
Buying 2 Mid-Term Rentals with $4,000
This deal consists of two cottage style homes located near this cities local hospital. The buyer we were working with runs a mid term rental business and loved this deal but had no cash to purchase it at the time.
92% Seller carry on 10 unit apartment complex
This is an off market apartment complex that we structured with a 92% seller carry at 5% interest only for two years and then 6% interest only for the following eight with a ten year balloon.
Getting a 2.75% interest rate in a 7.5% rate environment
The buyer brought $40,000 to cover a portion of the sellers equity and then we created a $50,000 note that the buyer pays down monthly. Not only did the buyer get a 2.75% interest rate but they only had to bring around 8% down to close the deal.