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12 January 2025 | 23 replies
The issues can be local so look for someone in your area who is posting and try to contact.
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10 January 2025 | 11 replies
The data @Devin Conley posted is pretty solid from my experience (I do not know Devin nor how he sourced the data, just going by my own investing experience).
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16 January 2025 | 8 replies
Keep us posted and good luck...
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11 January 2025 | 7 replies
Alternatively, consider bridge loans, HELOCs, or post-purchase refinancing to preserve liquidity.
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21 January 2025 | 20 replies
You wouldn't be competitive with the price you stated in your post.
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
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10 January 2025 | 2 replies
I have never posted here.
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14 January 2025 | 17 replies
Because they have no clue what so ever what there talking about, and there posting there feelings.
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19 January 2025 | 9 replies
but, my my first question with these posts is why can you not use conventional financing anymore?
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9 January 2025 | 116 replies
Terrific post Joel!