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23 October 2024 | 8 replies
Focus on distressed properties or those with motivated sellers to secure a better deal upfront.
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23 October 2024 | 16 replies
A lot of other markets 20 years from now could be ghost towns with little demand.But on the flipside, that safety/security comes with lessor immediate returns, as is a normal balance with investments (more risk traditionally equals more short term gain potential).
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22 October 2024 | 6 replies
the seller has to trust that you / the buyer is going to make the payments and also pay the taxes and be a good steward of the property since that's their security on the loan.usually you'd put a balloon in, but i bought one deal where the numbers worked out for us to fully amortize it over 12 years.
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22 October 2024 | 17 replies
You will need to really start playing the long game though and focus on securing assets that have good underlying fundamentals as you will need to get more creative with the financing if you want to keep moving quickly.
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22 October 2024 | 4 replies
A few months later, we received a notice from the lender stating that we no longer had home insurance and needed to secure coverage within a certain number of days.As it turns out, our original home insurance was canceled because it required the property to be owner-occupied.
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21 October 2024 | 6 replies
Second would be leave the paid off one's alone and use them as a financial base and security.
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17 October 2024 | 8 replies
@Joseph BaenaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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22 October 2024 | 17 replies
Your decision comes down to how long you want to hold onto the property and whether you can secure financing to make that happen.
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21 October 2024 | 0 replies
Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.
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25 October 2024 | 66 replies
I've been waiting a while before I share all the details and start working with the feds and local authorities along with the news until I finally get this lien on the church to secure my 2.5M+ along with a local Pastor of a Mega Church who believes God gave him a miracle and owes me nothing but also best friends with Will Platt.