All Forum Posts by: Chris Seveney

Typically if the banks are telling you that you cannot afford it then you probably cannot. You would need to put that full amount as a down payment and would not have the required six months of expenses in the bank. What you could do is partner with someone as a solution.

@Russell Brazil

Thanks

I have one from a large real estate agent that looks like it's generic and you are correct it allows for an addenda / modifications.

I have a property (Buy and Hold) that I am getting ready to start marketing to lease. I am curious if people have used the standard virginia lease / rental agreement or if they have modified it etc.

Curious to get everyones thoughts.

Thank you

First you need to figure out why you need a separate company ? The reason why will guide you in the right direction. Many people will create an LLC or s Corp but really do not need to. In many instances you will not be able to get a loan in that company name anyways. There are many posts about it here on BP so I suggest using the search to review

What I notice from the new app is if you do a search with more than one word in it you get an error message

Best to call around to your local lenders. I do not believe a national lender will go above 80%.

Where is property located ?

Where is this located ? At $100/sf did you include development fees and soft costs? Are you planning on 1 tenant or multiple tenants. I do not invest in retail but have built it and the vacancy rates are really hit or miss depending upon the location. If the area does not have an anchor tenant then vacancies can be very high

I have been recently looking at a condo at snowshoe as well and have been finding it to be difficult to get close to cash flowing. Even using it a few times a year I do not see great appreciation in the property as they are older and there are a lot of units there. Better to rent if going there

Originally posted by @Florian N.:

@Chris Seveney Which sky resort if you don't mind sharing, we are in the process on doing the same but we self manage. 

Depending where it is, we might be able to help if interested, get in touch if you want

I was looking at whitetail