Regarding advisory work, I see your tax planning documents and will follow up separately to see how things are being implemented.

The rate cap in January is currently priced at $747,000.The Capital Call funds will be used in the following ways:1) $4mil is being used to pay down the loan.2) $175k fee to extend the loan for 1-year.3) $2.247mil to cover interest rate cap extensions for the remainder of the hold period, including $747k for the January 2025 6-month interest rate cap purchase.4) $1,000,000 in reserves to prepare for additional extension fees and cash reserves.

Just a suggestion for after you call or go in person - send the person a follow up email with a recap of what they told you.

Are there specific steps or systems you follow to ensure it’s done correctly?

But if you can find an investment that pushes out beyond the next 2 or 3 years into a  “different” financial environment you might have a better risk reward return. 

Wholesaling isn't my specialty, but for those wholesalers I've worked with generally aren't looking to give you personal tips or strategies to be more consistent, they're generally just say, "get a list, call all of them, and then follow up in a week" or something similar.

@Francis Van Steen I would also like to know if we can have a follow up; did you decide to invest?

Hi all, I am considering the following strategy for a house hack in Old Town Alexandria.

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

Being a townhouse most of them have CC&R's that you need to ensure you're following. 1) I got started in RE back in 2014 at the age of 20.