All Forum Posts by: Cooper Raines

@Brandon Saunders Keep soaking up as much info as you can! Networking is vital to the real estate business, if you can find someone who has been in the game and is willing to help you/be there for advice they will be a great asset to you. Best of luck!

@Tammy Swiggart Hi Tammy, start by figuring out what county the property is in. From there go to the county's website and search for the property, that should tell you how the property is zoned. Once you know the zoning you can look up that county's land use code, this is were you will find the zoning regulations.

The tokenization of real estate is another very interesting idea. I've seen a few projects that have done it, the St. Regis Aspen Colorado Resort being one of them. They essentially tokenized the equity and then sold the tokens to raise capital, very cool project that I could see becoming more commonplace. With REITs you typically are investing in large pools of real estate holdings whereas with this tokenization concept you can invest in singular projects while retaining liquidity.

@Account Closed One of the great things about real estate is there's plenty of room for creativity. There are a million different ways that a deal can be structured and beneficial for all involved. A good place to start is to ask yourself what you'll bring to the table. It is entirely possible to invest in real estate without using any of your own funds. If that's the case, are you willing to put in your time? Are you willing to do the work if the property needs rehabbed? If you can answer the question of what value you bring to the table, it will be easier to think of creative ways to structure deals. Best of luck!

@Chelsea Douglas There are plenty of deals to be found in the country and we are seeing a lot of people wanting to move out of metro areas. One thing that I think is important to being successful in these kinds of areas is knowing the market/area really well. If you don't live in the area or have never lived in the country it may be hard for you to differentiate between a good deal and a bad one. Best of luck!

@Lindsey Milam Hey Lindsey, one thing I would recommend is just to reach out to the planner in your county. They're usually happy to talk with people and should be able to give you an idea of the feasibility of the project before you start dumping money into it

@Lauren Smith Hi Lauren, I don't think that it would hurt for you to talk with a lender. Even if you don't qualify for what you'd hoped, a good lender should be able to help you figure out ways to make yourself a more appealing borrower. Best of luck!

When I first saw this, I believed it to be to good to be true. Included in the new stimulus is a clause that has been enhanced since the last stimulus. The long and short of it is that the government will pay for a portion of your debt, up to six months of principle and interest payments on new and existing SBA loans. The Section 7(a) and 504 microloans in particular.

Borrowers who take out new loans before October 1, 2021 will receive the first six months of principal and interest payments from SBA. All payments provided for in the new stimulus law will be capped at $9,000 a month

I am not a lender so I will not dive into the particular of the loans, but they seem to cast a pretty wide net as far as what they can be used for. Here are some details taken directly for the SBA's website -

The use of proceeds from 504 Loans must be used for fixed assets (and certain soft costs), including:

• -The purchase of existing buildings;
• -The purchase of land and land improvements, including grading, street improvements, utilities, parking lots and landscaping;
• -The construction of new facilities or modernizing, renovating or converting existing facilities;
• -The purchase of long-term machinery* ; or
• -The refinancing of debt in connection with an expansion of the business through new or renovated facilities or equipment*.

The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for:

• Short- and long-term working capital
• Refinance current business debt
• Purchase furniture, fixtures, and supplies

The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

There are obviously eligibility requirements that you will have to meet however I think this could be a very good deal for those looking for real estate financing options.

@Fahadbin Alam The short answer is yes, as long as you plan on occupying one of the units

@Fahadbin Alam Keep in mind that in order to qualify for an FHA loan the home in question has to be your primary residence. So you cannot get an FHA loan for investment properties that you do not live in, best of luck!