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7 December 2024 | 6 replies
I'd ask around some GC's that are higher level they may have some decent project management/financial tools if they're at scale.
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11 December 2024 | 13 replies
I’ve worked on a few similar projects, happy to connect if you have questions or need any insights.
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9 December 2024 | 9 replies
Then, as you buld knowledge & experience you can do bigger projects.3) The two above strategies can build funds to invest in rentals.
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7 December 2024 | 14 replies
It gets to a point where your rehab costs for you and your projects are known before the contractor steps into the property.
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11 December 2024 | 6 replies
Personally I only use my HELOC on short term projects like flips, new builds and BRRRRs where I know I will be replacing the capital within months.You may be better off waiting a year and save up more cash or liquidate your index funds if the returns on a property will be better.
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11 December 2024 | 3 replies
Find yourself a good team who builds ADU's has a project management team and of course has all the licenses and insurances to protect your property.Quote from @Michael Adamo: Hi BP Community,I’m exploring adding one or two ADUs to a property I own in the Miracle Mile area, near 3rd Street and La Brea in Los Angeles.
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11 December 2024 | 11 replies
Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.
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11 December 2024 | 12 replies
I just closed on yesterday that is in Clearwater and closed for $660k with all furnishing and it projected to do over $90.
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13 December 2024 | 5 replies
What I'm most concerned about is the Project 2025 plan to gut HUD and most social services.
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10 December 2024 | 7 replies
Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.