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1 July 2024 | 7 replies
-Investing partner program where you can get up to 10% price reductions or 10% down payment credit on a new construction home from a national builder.
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30 June 2024 | 4 replies
Unless you are renting to a well established nationally known company (Ford, IBM, etc), I would get the guarantee.
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30 June 2024 | 1 reply
- Optimally, a national lender able to offer financing in multiple markets or States. - Seasoned with proven track record and positive reviews of performance.- Dependable, trustworthy and professional. - Weekends are workdays.
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1 July 2024 | 6 replies
So, we obtain a full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc. to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.
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3 July 2024 | 55 replies
Hi Jessenia,I've been in the game for quite some time and have many battle scars to prove it lolMy best advice would be to always look at a worst case scenario and start from that.By starting with a worst case scenario you will be able to quicker eliminate markets that aren't a good fit.I don't know much about NY but personally, I wouldn't invest in any market that takes 6 months or even worse longer to evict.Worst case scenario for example = Tenant doesn't pay rent and trashes the property.I would want to be able to evict, fix and re-tenant as quickly as possible.Time is money and I want to keep moving forward and not deal with financial and emotional drag.There are many markets nation wide that are landlord friendly.My business is based on Ohio and there is no mercy for non payment of rent.Eviction usually takes 6 weeks max and although I never want to evict, being able to do so quickly minimizes risk of that investment.Thanks
3 July 2024 | 20 replies
They adhere to a strict code of ethics and are often members of national and local real estate associations.The Process:Property Listing: They list properties on local Multiple Listing Services (MLS), exposing them to a broad audience of potential buyers.Client Representation: Realtors represent either the buyer or the seller, guiding them through the transaction process, ensuring legal compliance, and striving for the best deal for their client.Commission-Based Earnings: They earn through commissions—predetermined percentages of the property’s selling price.Wholesalers: The Middle-MenReal estate wholesalers seek out off-market properties, secure them at significantly low prices, often through a signed contract with a seller, then "assign" or sell that contract to an end buyer for a higher price.The Process:Property Hunt: Wholesalers look for properties often not listed on MLS, sometimes requiring significant repairs or distressed sales.Under Contract: They negotiate directly with sellers and sign a purchase contract, with no intention of actually closing the deal themselves.Assignment of Contract: Wholesalers then sell this contract to an investor or end buyer at a markup, pocketing the difference as their profit.Divergence Creates TensionThis fundamental difference in operations sets the stage for conflict.
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30 June 2024 | 54 replies
It has a very big impact I feel on the above average properties down to the floor properties(something 50-75% of national median income housing price point even in markets that are well below that).
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29 June 2024 | 2 replies
Can likely do a foreign national loan with no US credit score usually with 25% down.
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1 July 2024 | 27 replies
Listing agents easily own 85% market share nationally if not 95%.
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1 July 2024 | 23 replies
You could put your cash in a national (versus local) FDIC insured bank in a savings account and get on with it.