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15 December 2024 | 25 replies
If I downgrade I won't get the project tracking feature :(I"ll be giving a Xero software a try.
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27 December 2024 | 16 replies
They can help assess the market value of the property, considering its condition, and suggest the best sales strategy.Direct to Investors or Wholesalers: While 'we buy ugly houses' companies often offer below-market rates (as they typically look for deeply discounted properties), reaching out to local real estate investors or wholesalers could be a worthwhile option.
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3 January 2025 | 45 replies
Typically hard money lenders will lend a maximum of 70% of the ARV so if you are below you will have more flexibility on the initial loan and the refinance (better terms or higher cash out) and of course more profit if you sell
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21 December 2024 | 12 replies
Quote from @Brandon Croucier: 20% down is terrific on land.It’s a non income producing asset which has increased volatility, typically I see 65 LTV max on land as of late.Thank you Brandon!
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20 December 2024 | 2 replies
It was a typical house purchase deal.
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20 December 2024 | 9 replies
Yes typically you'll file the wholesale activity on a schedule C unless it was done in an entity (S Corp, Partnership, C Corp) but I see above you don't have these.
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17 December 2024 | 17 replies
FlipperForce is admittedly a bit of a work in progress, but we are still in our early stages and have a lot of tools and features on our product roadmap that we are wanting to build in the coming months.Right now we are working on Print to PDF functionality for our Investment Report & SOW Report, which should be available by the end of next week.
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18 December 2024 | 3 replies
Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in CO FLA WA ID MT NV AZ OR TX SC GA VA one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..
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27 December 2024 | 19 replies
Typically the quality of applicants in the winter months drops substantially as well.
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15 December 2024 | 4 replies
My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?