All Forum Posts by: Dwayne Ramsey

Hi Scheherazarde Roddie,

In such a scenario, it’s important to protect your rights and your property. Here are some steps you can take:

1. Formal Occupancy Agreement: Never let sellers retain possession of a home without executing a formal occupancy agreement. These agreements spell out the terms and conditions of the seller’s stay in your new home and they protect buyers as well as sellers.

2. Insurance: You (the buyer) should have homeowner’s insurance by the date of closing, but the seller should maintain coverage for personal property.

3. Security Deposit: Collect a security deposit to cover any potential damages that might occur during the seller’s stay.

4. Holdover Fee: Charge a holdover fee if the seller stays longer than agreed. This fee could help you to avoid evicting the seller, which is a time-consuming, often complicated process.

5. Communication: Maintain open lines of communication with the seller to ensure a smooth transition.

Remember, it’s always advisable to consult with a real estate attorney or professional to ensure all agreements are legally sound and in your best interest.

Hi Peter,

You are welcome! If there is anything else you need to know, don't hesitate to ask.

Dwayne

Hi Real Estate Investors,

We offer various loan terms depending on the type of loan:

For Private Money Loans, we will fund 90% of the purchase price and 100% of the rehab, as long as the loan amount does not exceed 65% of the After Repair Value. (ARV)

For our Hard Money Loans for Fix & Flip Investments, the loan term is 6-24 months. We offer up to 90% of the purchase price and up to 100% of the rehab cost, not to exceed 75% of the After Repair Value. The loan-to-value for refinances is up to 65%.

For our Private Long-Term Rental Loan Program, they offer a 30-year fixed loan with an interest rate starting at 7.5%. The loan-to-value is up to 80% for purchases and up to 75% for cash-outs. The minimum credit score required is 660.

*Credit will not be a big factor because private money lenders place more emphasis on the value of the asset that’s being financed. This is known as asset-based lending.

As a private money lender, I work with a reputable private money lending company that offers creative financing solutions for fix and flip real estate investors through private money loans.

The company also does private hard money lending for wholesale, rehab, or buy-and-hold for long-term cash investment deals.

We make private loans to real estate investors who are interested in any of the following three types of real estate transactions:

1. Repair and Flip.

2. Repair & Keep.

3. Refinance and Reboot.

Type Of Properties Funded: Residential - Single-family, Duplex, Triplex, and Fourplex.

*We do not make loans to anyone who will live in the property. The house must be non-owner occupied. Also, no friend or relative of the borrower can be living in the property.

I am committed to providing you with the best service possible, with competitive rates and flexible terms. I want you to be a very happy and delighted customer! Contact me today to learn more about how we can help you achieve your goals!

Contact me at (912) 638-6845 (Office Phone) or (912) 266-9489 (Mobile Phone) for further information. Email: [email protected].

You may also complete the information form at https://privatemoneyforus.com and I'll get back to you as soon as possible.

Please give us a try today! You won't be disappointed!

Hi Zlata Ishk,

When deciding between creating an LLC or operating as a Sole Proprietor for real estate investment, there are several factors to consider:

LLC (Limited Liability Company):

*An LLC is a type of business entity that allows you to buy, sell, and rent out real estate separate from yourself as an individual.

*If something goes wrong, you won’t be held personally liable—your company will.

*More than one person can be a member of a real estate LLC, giving you the chance to own properties with multiple other investors.

*The main benefit of an LLC is that it limits your personal liability.

*However, setting up an LLC requires upfront paperwork and costs.

Sole Proprietorship:

*With a sole proprietorship, you don’t have to file any legal paperwork or create a formal business structure.

*You’re the only person involved in the business, so you’ll be in charge of purchasing and managing all of your properties.

*The trade-off is that sole proprietorships don't offer anywhere near the liability protection of an LLC.

*There is no separation of your personal and business assets like with an LLC, meaning you could run into big trouble if someone makes a claim against your property.

As for lending, banks generally offer loans to both businesses and individuals. The approval process for business loans is largely based on the business’s financials, including revenue and outstanding debts.

Applicants may also have to describe the purpose of the loan funds. Banks are more inclined to offer larger loans since borrowers generally have strong credit scores.

However, getting a business bank loan is by no means guaranteed. Big banks approved only 13.5 percent of small business loan applications in April 2023.

In conclusion, whether to form an LLC or operate as a Sole Proprietor depends on the specific circumstances and risk tolerance of the investor. It's recommended to consult with a legal or financial advisor before making such decisions.

Hi Peter,

Deciding whether to pay cash or borrow for rental property repairs depends on several factors. Here are some points to consider:

1. Cash Payment: Paying cash for improvements is often the most economical way. However, if you lack the funds even for immediate repairs, you should weigh the cost of borrowing against the cost of delaying the work.

2. Borrowing: If you have an investment or business that makes more money than the interest rate costs you on the debt, it might make sense to get a loan to multiply your returns. But remember, if you have too much cash and nothing to invest in, debt will not do you any good.

3. Budgeting: Many landlords use the 50 percent rule, which means that 50 percent of your rental income should go to covering fixed and variable expenses, other than the mortgage.

4. Renovation Considerations: Before starting a renovation project, look at similar homes in your neighborhood to get a better understanding of the repairs needed to compete in your specific market. Also, consider the impact of lost rents. If a project can only be done during a vacancy, add carrying costs and lost rent to the net cost for landlords.

As for podcasts, here are some that are highly recommended for beginner real estate investors:

1. Bigger Pockets Podcast: This is a great place for beginner real estate investors to start. It features interviews with investors of various backgrounds, niches, and experience levels.

2. Think Realty Radio: Hosted by Abhi Goldhar, this podcast educates and coaches real estate investors through audio and video content.

3. The Real Estate Guys: This podcast offers informative and entertaining shows about investments, home renovations, financing, or housing news.

Remember, every successful investor was once a beginner. It’s okay to start small and learn as you go. Good luck on your journey into real estate investing! 😊

Hi Kenneth,

Real estate investing can indeed seem overwhelming at first, but there are numerous resources available to help beginners navigate the process. Here are some resources and advice that might be helpful:

Resources:

1. Millionacres: A real estate investment service provided by the popular financial advisory site, The Motley Fool. They provide resources that simplify real estate investment for all investors.

2. BiggerPockets: Their mission is "to help people find personal freedom and financial flexibility through real estate investing so they can work around life—not base their life around work. (You are here now.)

3. R.E. Tipster, Fortune Builders, and JoeFairless are also great resources for beginner real estate investors.

Other great resources for real estate investors to find the latest news and market-moving information include the blog pages on Zillow, Forbes, Trulia, and the Roofstock learning center.

Advice:

1. Identify Your Goals: Every beginner real estate investor should identify their financial goals in order to find a preferred exit strategy.

2. Assess Your Finances: Start by looking at your finances, keeping in mind that they are only one factor to consider.

3. Risk Tolerance: No investment decision comes without risk, and real estate is no exception; however, it is a good idea to identify what level of risk you are comfortable with.

4. Time Commitment: How much time are you willing and able to spend on your real estate investing career? You may need to devote extra time in the beginning to familiarizing yourself with the real estate industry.

5. Education: One crucial aspect that separates aspiring investors from successful ones is access to real estate education.

Remember, every successful investor was once a beginner. It’s okay to start small and learn as you go. Good luck on your journey into real estate investing!

Hi James Nelson,

If a renter brings a dog to a no-pet listing, there are several steps you can take:

1. Lease Violation Notice: Your lease agreement likely includes a no pets policy that does not allow pets at the property or there is a requirement for the pet to be registered with you. If your tenant has a pet on the property without your permission, this means the tenant has committed a lease violation, and you should prepare to send them a notice.

2. Assess Fines As Necessary: Some lease agreements include detailed pet clauses that permit either a one-time pet fee or a daily charge for each day the illegal pet stays at the property. If your lease agreement has such a clause, you can send out a bill for these fees and a reminder that the fees will be applied until the situation is remedied.

3. Modify The Lease, If Applicable: If you decide to allow the pet to stay, you may need to modify the lease to include the pet and any associated fees.

4. Eviction, If Applicable: If the tenant refuses to comply with your requests or if the pet causes significant issues, you may need to consider eviction.

Remember, it’s important to handle this situation professionally and legally. You might want to consult with a legal professional to ensure you’re following all applicable laws and regulations.

Hi Real Estate Investors,

We offer various loan terms depending on the type of loan:

For Private Money Loans, we will fund 90% of the purchase price and 100% of the rehab, as long as the loan amount does not exceed 65% of the After Repair Value. (ARV)

For our Hard Money Loans for Fix & Flip Investments, the loan term is 6-24 months. We offer up to 90% of the purchase price and up to 100% of the rehab cost, not to exceed 75% of the After Repair Value. The loan-to-value for refinances is up to 65%.

For our Private Long-Term Rental Loan Program, they offer a 30-year fixed loan with an interest rate starting at 7.5%. The loan-to-value is up to 80% for purchases and up to 75% for cash-outs. The minimum credit score required is 660.

*Credit will not be a big factor because private money lenders place more emphasis on the value of the asset that’s being financed. This is known as asset-based lending.

As a private money lender, I work with a reputable private money lending company that offers creative financing solutions for fix and flip real estate investors through private money loans.

The company also does private hard money lending for wholesale, rehab, or buy-and-hold for long-term cash investment deals.

We make private loans to real estate investors who are interested in any of the following three types of real estate transactions:

1. Repair and Flip.

2. Repair & Keep.

3. Refinance and Reboot.

Type Of Properties Funded: Residential - Single-family, Duplex, Triplex, and Fourplex.

*We do not make loans to anyone who will live in the property. The house must be non-owner occupied. Also, no friend or relative of the borrower can be living in the property.

I am committed to providing you with the best service possible, with competitive rates and flexible terms. I want you to be a very happy and delighted customer! Contact me today to learn more about how we can help you achieve your goals!

Contact me at (912) 638-6845 (Office Phone) or (912) 266-9489 (Mobile Phone) for further information. Email: [email protected].

You may also complete the information form at https://privatemoneyforus.com and I'll get back to you as soon as possible.

Please give us a try today! You won't be disappointed!

One of the most common questions we are asked is: "How do you structure your loan terms and what is the maximum amount of money you can lend?"

Loans are structured based on the asset, and terms are based on credit and experience. This determines the lending criteria and what will be required for lending.

As to the amount we can lend up to:

It will depend on the Federal Housing Administration Cap (FHA) for the type of residential property and the state and county where it is located.

The FHA cap will be different for each state and county. It will also be different for each type of residential property. (Single-Family, Duplex, Triplex, and Fourplex.)

For example, let's say you're purchasing a property in Georgia, and it's located in Cobb County. (Marietta is where the county seat is located. These cities

are located in Cobb County: Acworth, Austell, Marietta, Kennesaw, Smyrna, Powder Springs, Mableton, Vinings, and Fair Oaks.)

Depending on the type of residential property you're purchasing, here is the maximum loan amount you could receive for each one:

Single-Family Cap - $592,250.00.

Duplex Cap - $758,200.00.

Triplex Cap - $916,450.00.

Fourplex Cap - $1,138,950.00.

I've uploaded a screenshot from the website of the private lending company I work with showing this. It's at the bottom of this advertisement.

Anytime you want to know the FHA loan cap for your market, just let me know and I'll look it up and send it to you.

As a private money lender, I work with a reputable private money lending company that offers creative financing solutions for fix and flip real estate investors through private money loans.

The company also does private hard money lending for wholesale, rehab, or buy-and-hold for long-term cash investment deals.

We make private loans to real estate investors who are interested in any of the following three types of real estate transactions:

1. Repair and Flip.

2. Repair & Keep.

3. Refinance and Reboot.

Type Of Properties Funded: Residential - Single-family, Duplex, Triplex, and Fourplex.

I am committed to providing you with the best service possible, with competitive rates and flexible terms. I want to make you a very happy and satisfied client! Contact me today to learn more about how we can assist you in achieving your objectives.

For more information, contact me at: (912) 638-6845 (Office Phone) or (912) 266-9489. (Mobile Phone) Email: [email protected].

You may also complete the information form at: https://privatemoneyforus.com and I’ll get back to you promptly.

Please give us a try today! You won't regret it!

One of the most common questions we are asked is: "How do you structure your loan terms and what is the maximum amount of money you can lend?"

Loans are structured on the asset, and terms are based on credit and experience. This determines the lending criteria and what will be required for lending.

As to the amount we can lend up to:

It will depend on the Federal Housing Administration Cap (FHA) for the type of residential property and the state and county where it is located.

The FHA cap will be different for each state and county. It will also be different for each type of residential property. (Single-Family, Duplex, Triplex, and Fourplex.)

For example, let's say you're purchasing a property in Florida, and it's located in Duval County. (Jacksonville, FL) Depending on the type of residential property you're purchasing, here is the maximum loan amount you could receive for each one:

Single-family Cap - $526,700.00.

Duplex Cap - $674,250.00.

Triplex Cap - $815,050.00.

Fourplex Cap - $1,012,900.00.

I've uploaded a screenshot from the website of the private lending company I work with showing this.

Anytime you want to know the FHA loan cap for your market, just let me know and I'll look it up and send it to you.

As a private money lender, I work with a reputable private money lending company that offers creative financing solutions for fix and flip real estate investors through private money loans.

The company also does private hard money lending for wholesale, rehab, or buy-and-hold for long-term cash investment deals.

We make private loans to real estate investors who are interested in any of the following three types of real estate transactions:

1. Repair and Flip.

2. Repair & Keep.

3. Refinance and Reboot.

Type Of Properties Funded: Residential - Single-family, Duplex, Triplex, and Fourplex.

I am committed to providing you with the best service possible, with competitive rates and flexible terms. I want to make you a very happy and satisfied client! Contact me today to learn more about how we can assist you in achieving your objectives.

For more information, contact me at: (912) 638-6845 (Office Phone) or (912) 266-9489. (Mobile Phone) Email: [email protected].

You may also complete the information form at: https://privatemoneyforus.com and I’ll get back to you promptly.

Please give us a try today! You won't regret it!