22 March 2024 | 0 replies
This puts us somewhere between 18-27mo pending sale.Land Acquisition: 1M + 50K in closing costsHard Costs:Demo: 50KConstruction + Architectural Plans (survey, topography, permitting included) = 1.6M + 80KPool: 100KSoft Costs:Appliance package: 50KFurnishings: 75KLandscaping: 20KAnnual Carrying Costs (utilities/property tax/maintenance): 45KTOTAL: 3,025,000.00 After speaking with two lenders, it seems the best course of action would be to put 20% down on land for 12mo/interest only.
25 March 2024 | 214 replies
It is legal in other states but carries a lot of risk IMO.
22 March 2024 | 3 replies
This will be the carry back mortgage and 2nd position. - Both the seller and the buyer will be on the Deed.I don't know that I want 2nd position or to co-own.
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22 March 2024 | 1 reply
FINAL NUMBERS:- Projected Costs: $380k ($357k in build cost & $23k in soft costs)- Actual Costs: $389k ($369k in build cost $20k in soft costs)Note: We had very minimal carrying costs because we utilized a CA HELOC with Premier Valley Bank that had a 2.99% introductory interest rate.- Projected Finished Value: $750k- Actual Finish Value: I think between $800-$850k, not sure yet.
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22 March 2024 | 10 replies
Cash offer do carry weight as they can close quicker, don't need appraisals etc, but as an agent that works with buyer and sellers, I've seen it many times where a seller will pick a different offer due to some connection to the buyer (ex military, young married couple just starting etc) They want to know its NOT going to an investor specifically.
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21 March 2024 | 6 replies
I am just waiting for the Sheriff to actually carry out the eviction.
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21 March 2024 | 2 replies
Encouraging tenants to carry renters insurance not only helps safeguard their belongings but also reduces the likelihood of disputes or claims against the landlord's insurance policy.
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21 March 2024 | 8 replies
A modified approach to this could be for you to subsidize the builder by carrying the lots during the build and collecting your agreed to price after an agreed to timeframe.
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22 March 2024 | 19 replies
.$78k in passive losses”—those repair costs aren’t currently deductible, get added to the basis.78k is passive loss, rehab cost 200k+, also loss carried from previous yeargonna find a way to qualify
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21 March 2024 | 16 replies
Consider alternative financing options like portfolio loans that leverage your overall investment portfolio, private money lenders who may be more flexible with income verification, or negotiating seller carry-back financing directly with the seller.