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20 August 2024 | 5 replies
So 30k for 900 income, perfect numbers for syndication, and built in under a week.
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20 August 2024 | 15 replies
I just closed today, they actually weren't as familiar with it as they thought they were, so I went through my attorney's title company who handled it perfectly.
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20 August 2024 | 2 replies
There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself.
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22 August 2024 | 31 replies
I'm simply leading with my perfect scenario above as an example of what I would like to do so I can get possible suggestions on where to find investors who have the capability to do that...not necessarily all at one go
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19 August 2024 | 3 replies
Make sure you pay on time, keep insurance perfect, head down, eyes on paper.
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21 August 2024 | 18 replies
I use Podio, I have been using it for a few years now.It's free for the first 500 contacts, which is perfect if you are getting started.You can customize it to your business needsThen after, if you want to automate the system, you can use Podio Automation for an extra feeGood Luck
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23 August 2024 | 181 replies
REIreply is not perfect, but it is probably the best of all similar products, at least that I have tried.
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19 August 2024 | 8 replies
on the land locked they perfected a license to cross state of Oregon lands that took 6 years.. they paid all the legal fees to do it probably close to 100k. if not more..
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19 August 2024 | 7 replies
What you're looking for is perfect for a homeowner or someone that wants to live there, but all those extra amenities (doorman, etc) are too costly for you to make any profit.
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20 August 2024 | 81 replies
They have a huge amount riding on simply getting you to agree with them, they don't have to be right and they don't spend any time trying to get the perfect comp numbers.