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14 December 2024 | 4 replies
I will say, services are much easier to obtain in the metro vs vacation market.
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19 December 2024 | 22 replies
The other thing to consider is that a bank might do 80% loan to value but also require a Debt Service Coverage Ratio of 1.2.
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15 December 2024 | 7 replies
As far as ethically that is part of my nature and I don't care for the aggressive (potentially predatory) strategies discussed by others, but I see value in offering a transparent and convenient service with lower costs and faster turnarounds than traditional MLS transactions.
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11 December 2024 | 6 replies
If you have not put them into service yet then you may want to hurry up and do that otherwise you’ll have to wait until next year.
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14 December 2024 | 2 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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31 December 2024 | 418 replies
Postal Inspection Service: - https://www.uspis.gov/report7.
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14 December 2024 | 4 replies
With TOU service you charge it at night for 5-7c/kw and use it during the day to arbitrage the price difference.
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17 December 2024 | 4 replies
Some mentees will act as a bloodhound for the mentor, knocking on doors, driving for dollars, scouring the internet, making cold calls, or performing other services that help the mentor find new deals.
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19 December 2024 | 22 replies
I’m in the La Jolla area, but service all your targeted locations.
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.