22 July 2024 | 13 replies
Buyers get spooked easily, plus every year the process gets more complicated with financing, appraisal and inspection issues (which can vary from lender to lender) that could be easily overcome threatening to crash deals without someone experienced in there herding all the "cats" (lol- elements) in the deal to a successful close of escrow.Also most of those comps you are seeing-maybe even all of them- have had a commission and some fees paid by the seller, and the appraisors are aware of that.I hope your home sale goes smoothly.
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23 July 2024 | 15 replies
If you don't have a full year of booking history, you can often combine booking history (six months in this case) and AirDNA projections.
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22 July 2024 | 6 replies
I believe I know why the combined property value numbers are incorrect but still am not sure why the total loans, total equity, and total net worth are incorrect.For the total of the value of the properties, the amount of years of ownership being used for 2 out of the 3 properties is wrong, hence the incorrect scaling.
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20 July 2024 | 4 replies
Jack - Elements of seller financing that I think would be interesting to call out/explain are:- Payment structure (length and rate) to seller.- Tax Benefits of receiving installments instead of a lump sum payment.- Legal Options for the seller if the buyer does not make payments.- Visual/Explanation of how the loan looks on the HUD-1 at closing.Good Luck!
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22 July 2024 | 21 replies
The only element I'd reconsider is the 5-year pre-payment penalty.
23 July 2024 | 42 replies
Combined debt on them is $394k. - A $300k HELOC on the second home, at prime + 3% with a 20 year draw period.
26 July 2024 | 49 replies
Syndications are simply a business structure where a group of people combine to carry out a business or project.
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21 July 2024 | 5 replies
In years past, I've used an app that was awesome for initial buying… there was an option to add several properties, and even add all the properties together and view all your combined info in a portfolio report.
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22 July 2024 | 24 replies
I was looking at doing a combination of LTR and MTR/STR (to travel nurses/business people) to have a little better cash flow.
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22 July 2024 | 17 replies
Kudos From the Easy Street Website for all lenders below :For our Short Term Rental Loans (STR Loans), We combine the traditional 30-year fixed rate residential mortgage product with flexible and hassle-free underwriting, delivering quick and efficient 30-day closes and non-intrusive documentation requirements (no tax returns, no income verification).Light DocumentationOur process allows investors to avoid the mountains of endless paperwork and intrusive document-gathering common with our competitors.