![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1870629/small_1723046681-avatar-yishiz.jpg?twic=v1/output=image&v=2)
17 August 2024 | 4 replies
The first prototype will have all specified fixtures, finishes and products as My wife and I like and approve.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2397378/small_1646868544-avatar-ajw35.jpg?twic=v1/output=image&v=2)
18 August 2024 | 3 replies
Here are some tips to maximize the use of leverage without paying for unnecessary interest:- If the cash out is being utilized for RE acquisition have a strong pre approval and try to align the refinance with the purchase.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/183560/small_1621431616-avatar-yaru22.jpg?twic=v1/output=image&v=2)
15 August 2024 | 5 replies
@Christopher RankinThe CRM I use is called REI mobile, its specifically designed for real estate investing.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/555527/small_1695776407-avatar-samuelc7.jpg?twic=v1/output=image&v=2)
12 August 2024 | 6 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3100722/small_1723747476-avatar-anastasiam30.jpg?twic=v1/output=image&v=2)
17 August 2024 | 16 replies
@Anastasia MonroTo achieve financial independence in real estate, focus on boosting savings, improving credit, getting pre-approved for a mortgage, searching for properties with high rental demand, researching local laws and regulations, building a team, staying educated, preparing for property maintenance and management, and being patient and persistent.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/856900/small_1722645151-avatar-jasons360.jpg?twic=v1/output=image&v=2)
14 August 2024 | 8 replies
Entering 100 expenses at the end of the month is very time consuming compared to Quickbooks or Tiller spreadsheet, plus you cannot do this through the mobile app.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2022513/small_1673318838-avatar-noahb98.jpg?twic=v1/output=image&v=2)
16 August 2024 | 19 replies
One of my HOAs, the master fire/liability policy was +15% this year (likely the max the state approved), the earthquake was +165%, and my personal landlord policy got non-renewed as the carrier left the state. 20+ carriers refused to write a new policy.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2435713/small_1695501176-avatar-ilyap11.jpg?twic=v1/output=image&v=2)
15 August 2024 | 6 replies
Hey, there, I'm currently getting approved for a single family loan to convert a large square footage Single family Into a 4 unit, then 5 units apartment building.cash out refi later and put that cash into a bigger building deal. also say a hud multifamily loan requires 10% down and 10% in the bank ( of purchase price ) but do i have to do this?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/991443/small_1694706992-avatar-michellef66.jpg?twic=v1/output=image&v=2)
17 August 2024 | 30 replies
I was still approved with Figure this month.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1211884/small_1694648202-avatar-chaseb68.jpg?twic=v1/output=image&v=2)
13 August 2024 | 5 replies
Long story short, they recommend a process that basically looks like...Soil scientist --> (septic engineer IF needed) --> site plan --> county approval...We've spoken to a few soil scientists and they all quote 2k-5k to analyze the property for an appropriately sized septic system.