
30 August 2024 | 29 replies
Condo Karen is much worse than some former builder retired into a code enforcement role.

29 August 2024 | 6 replies
Here's the links I think you would find most useful given what you've said:• BiggerPockets Market Finder - Insights into zip codes, recommended cities to invest in based on factors like rent to price ratio, median home value, and more.

29 August 2024 | 5 replies
Of course, there are a lot of things to look out for...setting up an appropriate contingency reserve for unexpecteds, getting an accurate scope of work, properly knowing what your time-value-of-money costs are going to be, making sure you're contractor is not pulling crews for other customers, knowing codes and getting your permitting right, and the list goes on.

27 August 2024 | 12 replies
Here are the Fannie Mae guidelines for legally non-conforming properties:If the Property's characteristics are legally non-conforming, you must:ensure the Borrower executes the Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status) (Form 6275);confirm whether, if fully or partially destroyed, the Property's Improvements can be fully rebuilt to the pre-casualty condition per current laws, zoning requirements, and building codes; and if the Property’s Improvements cannot be fully rebuilt to the pre-casualty condition, evaluate if the as-rebuilt Property will support the Mortgage Loan at the current Tier, and document your analysis in the Transaction Approval Memo.To assess the Borrower's ability to rebuild Improvements on a non-conforming Property to a level that will support the Mortgage Loan at the current Tier, you should consider: conducting a threshold analysis to determine the resulting actual amortizing DSCR if the reconstructed Improvements cannot be rebuilt as-is per current law; the likelihood of a casualty event (e.g., wind, earthquake, fire, flood, mine subsidence, etc.); the percentage of damage to the Improvements at which the Property’s jurisdiction will require the Property be rebuilt to current zoning and land use requirements (i.e., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.
26 August 2024 | 5 replies
Here is statewide code in WA.

25 August 2024 | 10 replies
They're just going to fix stuff, that either didn't meet local code, or missed their "standard" building practice.

26 August 2024 | 0 replies
Developed by Icade Promotion and Groupe Duval, the site is already 90% leased just months after completion, with tenants like Nocibé, a French cosmetics distributor, leading the charge.

27 August 2024 | 8 replies
It’s by sections not necessarily tied to the city or zip code.

26 August 2024 | 8 replies
We were curious if anyone here had guidance on the market in terms of zip codes on the rise/or key areas developments we should take a look into?

26 August 2024 | 9 replies
BP hosts have promoted it, but I can't say why.Other platforms out there too.