Sani Shu
Anybody familiar with Keystone Funding Network?
6 September 2024 | 79 replies
Items you will be asked for will be:Address:Purchase Price:Rehab budget:Estimated Term needed:Estimated ARV:Square Feet:Configuration (Bedrooms, Bathrooms):Rehab short description:Explain why this is a good deal:Your history in real estate (including number of flips):Any other comments about the project:Include a Property Data Sheet (MLS Listing, FSBO Ad, Auction Listing, etc)Also include a minimum of 3 Solid Sales Comparables – preferable realtor generated*Once all of stage one above is sent in it can take up to 24 hours for approval to move on to stage 2.Stage 2 on the following page.1Page 2 of 2-Stage 2-After initial review we’ll need the following items sent to processing (Note: all costsat this point are your responsibility & don’t guarantee funding):Inspection from a professional inspectorBPO or Appraisal (Please see guidelines below for a BPO)REPCDates: Inspection Period, Settlement DateDetailed Renovation Budget from 3 contractors (please tell is which contractor you feel best about using)More info may be needed as we move forward, it depends on the best structure for the deal*Once all of stage 2 is submitted in will take a few hours to review and if everything is approved it can take upto 10 business days to close.BPO Guidelines:Please do not use your buyer’s agent to do the BPO.
Austin Wolff
I ranked Denver's best zip codes for investing -- locals, I'd love your thoughts
2 September 2024 | 6 replies
Average rent was $1,981. 180205 (Cole, Whittier neighborhoods) - Rents increased 38.50% from 2011 to 2020, going from 13,499 renters in 2011 to 18,691 renters in 2020. 280247 (Windsor neighborhood) - Rents increased 31.80% from 2011 to 2020, going from 15,551 renters in 2011 to 20,493 renters in 2020. 280222 (Denver, Cherry Hills Village) - Rents increased 47% from 2011 to 2020, going from 8,446 renters in 2011 to 12,416 renters in 2020. 280202 (Downtown, Union Station area) - Rents increased 81.30% from 2011 to 2020, the fastest growing among the zip codes mentioned, going from 6,185 renters in 2011 to 11,214 renters in 2020. 280206 (Cherry Creek, Cheesman Park, Congress Park) - Rents increased 1.4% year-over-year as of 2019, with average rent of $2,454, the most expensive in Denver. 1For the Denver metro area overall, rents increased 0.2% from January to February 2024, a similar growth rate compared to the same period in 2023.
Brian Smith
30 Day Notice
1 September 2024 | 2 replies
(I have not signed and returned a copy to the tenants) Within the past week or so while renovating the vacant unit, Ive noticed an unusually high amount of activity pertaining to one of the occupied units i.e. vehicles stopping at the property for short periods of time, the tenant leaving as a passenger in a vehicle, then returing on foot, different people coming and going on foot.
James MacBean
Attention! Cash for Keys
1 September 2024 | 3 replies
Law requires a 3-day grace period, so I charge a late fee on the 5th and never waive it.3.
Jenny Milu
What's your best piece of advice or tip when starting out managing a STR?
3 September 2024 | 23 replies
1) continue to maximize and hone your listing over a 2 week period.
Manshi M.
REM Capital - Robert Ritzenthaler - Thoughts?
3 September 2024 | 20 replies
I can tell you that from the inception dates of our wired capital into REM, we have seen a total of $12.04K back in distributions over around a two year period.
Andrew Acuna
What is everyone's obsession with hiring PMs!?!
4 September 2024 | 84 replies
Obvious answer is get a PM since you have no idea that you trained them to pay late.Most of them actually believe the tenant is not late till the late fee grace period ends.
Yoav Schatzberg
How to review a P&L
30 August 2024 | 4 replies
A brief summary of revenue, costs, and expenses incurred within a specific period.
Sanjeev Advani
Freddie Mac and Fannie Mae Introduce New Tenant Protection Policies for Multifamily L
31 August 2024 | 1 reply
These standards include a mandatory five-day grace period for rent payments, a 30-day notice for rent increases, and a 30-day notice for lease expirations.Borrowers must incorporate these standards within six months of closing a loan, and full compliance is required within 24 months.
Diana Jing
Rent To Retirement Review
7 September 2024 | 85 replies
Appreciation has been higher on almost all properties than we expected over just a couple of years allowing us to 1031 into more properties in a short period of time.