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28 June 2024 | 4 replies
I think you should be cautious to outsource things as a newbie without understanding how it works, what the nuances are etc because essentially you should know your business before you outsource things...doesn’t mean you have to be an expert but knowing it is vital.
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27 June 2024 | 2 replies
The mortgage remains in the seller’s name, but the buyer gains ownership of the property and makes the payments.Risk: This can trigger the Due on Sale Clause, so it’s essential to understand the risks and have a plan in place if the lender calls the loan due.Wraparound Mortgage (All-Inclusive Trust Deed - AITD):Definition: A wraparound mortgage involves creating a new mortgage that "wraps around" the existing one.
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28 June 2024 | 10 replies
@Dan H.Most GP’s don’t allow it, especially for accredited investment offerings because the purchase must also be accreditedWe have a reg an offering and have a death and disability clause that gives an out and have had one case where this occurred at of 700+ investors.As someone else mentioned, you would essentially be setting up an exchange which would require finra licensing and the licensing costs alone would make it cost prohibitive
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27 June 2024 | 1 reply
Ensure the property manager is meeting your standards and expectations.Secondary question: Old Listings:Established Reviews: Old listings have a history of reviews, which can attract more bookings and build trust with potential guests.SEO Benefits: Established listings may rank higher in search results on OTAs.Brand-New Listings:Flexibility: New listings can be optimized from scratch based on current best practices and market trends.Promotions: OTAs often give new listings a visibility boost to help them get initial bookings.It's essential to balance the benefits of a property manager handling OTA listings with the need to retain control and flexibility over your property.
28 June 2024 | 10 replies
Understanding the implications of this clause is essential for anyone involved in real estate transactions or mortgage agreements.
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26 June 2024 | 11 replies
Not saying you are wrong, but the metrics have a local element.
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27 June 2024 | 13 replies
No way I am dealing with that unless I can own enough of the units to essentially control the thing.
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26 June 2024 | 0 replies
This shocking truth opened my eyes to the importance of maintaining an accurate and up-to-date financial statement to secure financing.To navigate the world of real estate financing, it's essential to recognize market preferences and loan-to-value (LTV) restrictions.
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26 June 2024 | 8 replies
You can get into a 3-4 family properties (3 to 4 family is preferred since it is tough to find a duplex now that cash flows once you move onto your next househack) with as little as 3.5% down (FHA loan, you can only have one of these outstanding at any given time) vs. 5% conventional loan (you can have up to 10 of these on your credit report before you essentially run out of space) and create an investment property with little money out of your pocket.
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27 June 2024 | 6 replies
The 3.25 % interest is the main attraction of the deal, as you are essentially selling a house worth $1.3 million for the full $1.3 million value.