All Forum Posts by: Account Closed

I do not recommend this, but some people discreetly live in the office that they rent. This happened with at least two co-tenants in my last office building.

You need to have a Plus or Pro account to post in the Marketplace.

 Jackson,

The scenario that Nick quoted is what you should expect. Those are real world numbers.

Buyers and Refinancing Owners, please remember to ask your loan officer about your eligibility for an Appraisal Waiver. The waiver will eliminate the need for an appraisal, thus saving you time and money during your closing. Plus, appraisal waivers eliminate the possibility of a low appraisal value that could cause problems.

 Try searching for lenders in this link. https://www.biggerpockets.com/companies/hard-money

 Kent,

You should be expecting terms close to what Michael posted, 10-12% interest and 3-4 points. That is standard.

@Israel Belovserkovsky I know this is an old thread, but how did the sale turn out for you?

@Jordan Allison,

Kudos for even thinking about becoming a real estate entrepreneur.

If the resources are available, then try to build a signature home under your own brand with support from your current company and family. Giving a favorable return to your partners in exchange for your brand exposure is something to consider. You can then venture into commercial rehab and/or new construction after seeing how your first residential project goes.

There is new construction financing available for residential and commercial projects, so you will need about 30-35% of the total project cost to secure financing. It sounds like you have a lot of valuable experience already being with a design-build firm. Find an improved lot or property in disrepair, pencil it out, and make it happen.

Double post

@Don Konipol,

The Free Appraisal program was created to encourage female real estate investing. As long as the borrower is female, then the appraisal cost will be waived. This scenario applies to non-owner occupied investment purchases including SFR 1-4 units, apartments, offices, and retail buildings. Financing is with private money and Free Appraisals are available nationwide.