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20 February 2025 | 6 replies
@Kiryl Ulanovich,You're on the right track:Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.Title Search & Clear Any Issues – Ensure a clean title before closing.Close Through Title Company – Finalize funding and take ownership.Consider also lining up contractors early for a smooth transition into renovations.
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20 February 2025 | 2 replies
If you are all in $200k into a property and it is worth $350,000 after repairs, then you should be able to receive all of your initial cost on a refinance using the new appraised value.
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16 February 2025 | 4 replies
This option can allow your property to cash flow at a higher rate because the monthly payment would be cheaper than if you were to have a conventional loan; then once rates come back down you can decide to refinance on to the traditional 30 year fixed.They require much less for pre-approval and look more into the asset that you're looking to purchase than they do things like credit score.I hope this helps!
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24 February 2025 | 27 replies
@Anthony Rondinelli..lenders have different nuances that have to be taken into account.
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10 January 2025 | 28 replies
But I don't know that I would jump into real estate just yet either.
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3 February 2025 | 3 replies
but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips) a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor) in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.
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17 February 2025 | 7 replies
The prior accuntant should be able to print your return along with any depreciation schedules by going into your tax return within their tax software.
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10 February 2025 | 2 replies
I'm looking into Trello, Procore, and Buildertrend, but I wanted to hear from others before I dive in.
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12 February 2025 | 2 replies
@Sam Avila Sr I'm just getting back into BiggerPockets myself as I was on here four years ago.
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17 February 2025 | 4 replies
I've recently moved to SC and am trying to get into REI here.