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14 August 2024 | 7 replies
Generally, if you've got history of the lease performing (6+ months of pmt verification) and the lease amount is in line with the 1007, you won't have a problem finding an investor who will take this.
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14 August 2024 | 11 replies
I don’t want to see you end up as a mom and pop owner with a facility that is under performing and causes a lot of headache for you.
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17 August 2024 | 39 replies
Moreover, Mexico recently has had one of the world's best economic performances, with an unemployment rate well below that of the US.
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14 August 2024 | 6 replies
And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.
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14 August 2024 | 84 replies
CocRoi, Cashflow, and dscr would all be helpful as well as expenses Hey Samson, I have several S8 properties in Detroit and I'm extremely open with my numbers and performance of those over the years.Happy to share if you're interested (or anyone else).
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15 August 2024 | 86 replies
I think it’s way too easy to over estimate investment performance based on how well the pro’s do.
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15 August 2024 | 16 replies
You will still have issues come up BUT the performance of the other properties overcomes those issues without them stressing you if you are managing them well. 6.
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14 August 2024 | 134 replies
The pro of a feeder fund is if you trust your FF GP and they are well connected, they can be performing due diligence on multiple operators.
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14 August 2024 | 16 replies
If Subs pulled permits, and they are not complete, you will need the contact info for the subs used.5- Perform a photo documented site inspection, written detail of unfinished work directly covered by the language/scope of work description in your contract. 6- If permits are complete, signed of as FINAL, no further inspections required, then solicit an estimate from another contractor for the list of unfinished work.
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13 August 2024 | 13 replies
To ensure your STR performs well, do your kitchen and bathrooms need to be fully renovated and updated?