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31 January 2025 | 6 replies
Yes there are alternatives for both beige and 30 year loans for no US borrowers.
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1 February 2025 | 30 replies
I invest in Boise, ID and do quite a few BRRRRs, LTRs and STRs- varying degrees of success depending on how much equity we can force and the type of back end financing we can find, but the tax benefits are great and it's a rapidly growing market and Idaho is probably the most landlord friendly state in the nation.
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16 January 2025 | 5 replies
If you are going to move then I would do as needed renovations and not go crazy.
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4 February 2025 | 9 replies
In the latter I would much rather have my money and be in control.
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5 February 2025 | 3 replies
It sounds like you've absorbed a bunch of problems already and a new sewer line and the current basement situation will cost you way less than the $50K in fees to sell it.
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11 January 2025 | 67 replies
It allows you to spread your risk and grow your portfolio without overextending yourself.
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10 February 2025 | 8 replies
I don't think $175/month is good in Florida (or anywhere) for 30 percent down, but it also depends on what the rest of the block and area is like and if there is appreciation scale.
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7 February 2025 | 7 replies
If not and you wrote them the check, then most likely the $ is gone and suing for that money will cost you more than $1000 unfortunately.So cancel the agreement and request the funds
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27 January 2025 | 7 replies
Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.
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21 February 2025 | 182 replies
I believe our contract stated that the funds did not need to remain in escrow and they could be released to the builder.