Adam DuCharme
Cash vs Financing for Fix & Flip
1 February 2024 | 7 replies
Is there a rule of thumb of what costs require cash up front vs what can be covered via loans?
Rafael R.
House hacking numbers
2 February 2024 | 4 replies
The property requires some upgrades to the hvac system 10k , minor cosmetic upgrades 15k, foundation and grading 10k, Landscaping and misc 15k properties in the area are going for single families with inlaw suites are going for 1.2m I put conservatively 950k appreciation 50k forced.You also reference a mortgage interest rate of 5.2%.
Ruben Helo
Property Management fee
1 February 2024 | 16 replies
This question, though seemingly straightforward, actually requires careful consideration: When a management company charges a 20% fee, what exactly does this percentage apply to?
Account Closed
Flip Gone Wrong- Advice Wanted!
1 February 2024 | 23 replies
This lender requires paying points selling before five years, so it doesn't seem to be the best option.
Charlie Loomis
First Time RV Park Owner
1 February 2024 | 10 replies
So, in addition to the park requirements, I would like to know how the rental process works for the RVs specifically.
Susan Carman
Does REO Properties = No Liens on the Property?
2 February 2024 | 14 replies
At foreclosure auction, no other bidders met the full credit bid the lender required and the property "reverted" to the lender.Said lender now owns the property on its books, which was formerly a mortgage asset, it used to be termed OREO ("other real estate owned") by bank auditors because these were not assets intended as buildings used by banks for retail offices, etc.A lender that (now) owns a property inherits all the senior liens, if any, as well as property taxes (both current and delinquent) as well as the ongoing issues with possession and maintenance.
Kevin G.
STR Permit Requirement
29 January 2024 | 16 replies
The town requires an STR permit before renting and they limit the number of STR Registration Certificates to 1,225 a year.
Noah Bacon
Which of the following will be your next investment?
1 February 2024 | 3 replies
I contacted local banks in Canada that do business in Canada and all require 25 % down and for the moment I only have $25000cad.
Peyton LaBarbera
What are all of my options for financing a fix and flip project?
1 February 2024 | 17 replies
Here is how most work:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,500 minimum)Max Loan: 65% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.
Julie Clark
Need advice on a potential renter
1 February 2024 | 4 replies
(This all occured, up to today, over about a week's time)I found some good advice on here about giving 24 hours to get the security deposit to you which I will be utilizing going forward.The bottom line for this post is I need advice on what to do because I do not want to keep having issues with this woman if she does follow through and get all the requirements done in order to move in.