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4 December 2024 | 33 replies
Now we're seeing incredible population and job growth and major companies moving and developing here like Intel and Amazon - great macroeconomics and strong rental demand.
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3 December 2024 | 0 replies
These properties offer incredible potential, but I’d love to learn from other investor experiences to better guide my clients and partners.
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6 December 2024 | 2 replies
Has anyone ever been approached by Landtrade.com?
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6 December 2024 | 2 replies
Keep in mind, though, that this approach comes with higher down payment requirements and interest rates, which may not be as favorable
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4 December 2024 | 2 replies
This situation has been incredibly stressful, and finding a viable path forward would mean a lot to my family.Thanks in advance for your help!
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7 December 2024 | 35 replies
Quote from @Chris Mason: Rather than starting with one lender and going back to the tenants, another approach would be to work with a commercial mortgage broker who will put the full credit package in front of 10 or a dozen lenders, and see what they come back with.For example, for scenarios like this, I've seen lenders come back and offer a new loan that has a maturity that's coterminous with the lease.
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3 December 2024 | 0 replies
Don't miss out on this incredible opportunity to own a stunning, completely remodeled home in a highly desirable location!
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4 December 2024 | 5 replies
hey @Jason Lowe your property sounds incredible and it sounds like you have some good ideas flowing.The BiggerPockets community has profoundly impacted my journey in real estate and investing!
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9 December 2024 | 98 replies
Someone here said don’t invest anything you can’t afford to lose and that is our approach but we are bullish on cypto currency right now.
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5 December 2024 | 4 replies
I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.