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20 December 2024 | 10 replies
When Im getting into mid October to mid November....I typically recommend to my clients to pull the property off the market, and relist around Feb 15th for townhomes and single families, nd possibly as early as Jan 15th for condos.
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13 December 2024 | 4 replies
Many Loan Officers like to BS to get a client in the door.
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16 December 2024 | 4 replies
Hi Chad, @Denver McClure and I are working with a client on a 1035 scenario right now and it is an easy process.
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17 December 2024 | 11 replies
This post does not create a CPA-Client relationship.
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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.
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14 December 2024 | 3 replies
New to real estate but possess a deep understanding of the responsibilities to continue to gain knowledge and remain loyal with my clients and professionally with my colleagues.
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18 December 2024 | 17 replies
It spreads their risk.In regard to market, there's a couple of different approaches my clients take:1.)
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20 December 2024 | 14 replies
For my clients, in every city I am set-up in I have an agent who pulls all the comps and writes up an opinion on the value based on size, area, finishes, market.
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15 December 2024 | 13 replies
A lot of my clients buying in FL are happy with minimal return but are buying for second homes, tax benefits, etc.I would stick with value add - with refi you can still achieve high CoC and a good equity position.