Michael P.
Ready To Get Started In Ohio!!
2 June 2024 | 112 replies
😎 Carry on sorry I mentioned it.
Mitchell Rosenberg
Pros and Cons of Buying a Fixer-Upper in Today's Market?
28 May 2024 | 2 replies
Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.
Sarah Ali
Am I too old to get started? What is a realistic plan for me?
30 May 2024 | 63 replies
These types are less likely to even bother if you carry a mortgage, even a smaller one.
Quincy Jones
Can’t seem to find financing as new investor.
28 May 2024 | 28 replies
You may also do some creative financing by getting the seller to carry in second position, but you risk being over leveraged.
Ryan Overcash
Monarch Money Budgeting
27 May 2024 | 5 replies
Seems like a useful tool, but try not to get carried away with subscriptions.
Jesse Doschadis
Second Home Loan for Building
27 May 2024 | 1 reply
Also since equity lines are typically interest only would provide lower carrying costs during planning and construction.
Najeh Davenport
Is It possible To Form a partnership With a person you don't know personally
28 May 2024 | 11 replies
So you're going to have carrying costs with this , as well as opening the door costs , as well as capital injections by both parties of an amount to be able to pay the bills of the llc just to survive as well as to grow business for yourselves .
Marco Santana
Seller Financing Refi out
27 May 2024 | 7 replies
I bought a place a number of years ago, and the vendor carried back 100% of the purchase price - because i asked.
Ryan Daulton
Real Estate vs. CD Market investments
30 May 2024 | 93 replies
Every investment carries risks, but with careful research, planning, and management, real estate can be a rewarding and profitable investment option.
Jalen Wilson
Is it possible to get a mortgage with no W2 history
27 May 2024 | 11 replies
Couple options that might be viable for you (I don't know all of your circumstances)- BRRRR into a DSCR by creating equity; partner closely with a lender before starting on this to cover seasoning and other requirements - also this will only work for an investment property, not a primary- bank statement loan/1099 loan may work if you can put at least 10% down and want a primary residence - will depend on how you're operating and a few other variables- seller financing; find a seller willing to carry a note for a few years- co-borrower; someone with decent income and credit who will be on the loan with you- DSCR purchase; be prepared to put down at least 75% or your rate/pricing will be horrible (70% is better); many lenders will have experience requirements; investment property only- find a private lender willing to fund the loan you need- get a salaried job relevant to your college coursework; your fico is strong and you have some cash, so househacking could be within reach via Fannie/Freddie multifamily purchase; get a solid workup from a competent lender before going this route as employment history will be touchy with this routeHard money can be used for an acquisition and rehab, but make sure your takeout financing plan is bulletproof before getting hard money.I'm originally from Baton Rouge.