Until you see the property in person the numbers are completely meaningless unless you have a working relationship with that listing broker for years.

While I haven’t closed on a deal yet, I’m confident this process is completely learnable.

Along the same lines, they completely ignore all the things a good operator does on a daily basis to avoid the claims from arising in the first place.

I have yet to complete a walk-through of the property and see what renovations may be needed (potential for HVAC and interior, but from my understanding the roof and windows were replaced within the last 7-8 years).

The park owner will want a bullet proof guarantee that the home will look great when completed and you will be on the hook for the space rent as negotiated until it sells. 

Paid $140k(few grand over the 70% rule), quoted $150k to complete the rehab. 

These problems have completely evaporated in less than 24 hours.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

Hi BPersI bought and completely remodeled a building with three side-by-side, 2 bed 1 bath apartments and one small, 2 bed 1 bath house on ~1.5 acres in Ojochal, Costa Rica.

should a private lender ever ask for a 1% insurance paymentBefore completing a loan?