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14 July 2024 | 6 replies
They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.
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14 July 2024 | 13 replies
I did walk away from this exact property but it was good practice I think for me and I will be looking into some more in the coming weeks.My next question is property management for something that strictly does emergency calls where I can not be present?
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13 July 2024 | 6 replies
I don't know whether it is still the case but for awhile the city of Jackson was selling empty lots for just $50 if you presented a plan for what you wanted to do with it.
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12 July 2024 | 3 replies
Before this I made about 170k on the 3 previous homes I bought fixed up and sold.I see a decent opportunity to buy a fixer upper and have it turned around pretty quick.What's the best option I can use/present to get financing on the project.
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14 July 2024 | 15 replies
One region of the country with natural abundance that offers present and future sanctuary is the Oregon Coast.
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13 July 2024 | 21 replies
I would think that the search impressions would go up at least a few digits.
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11 July 2024 | 12 replies
Without running numbers, I think you are looking at an asset that makes 8-10% over the next several years with an upside in the 15-20% range if you see high single digit/double digit appreciation.
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12 July 2024 | 8 replies
Alternatively you could explore a fully pre approved loan commitment to present to the developer and likely still negotiate aggressively.
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10 July 2024 | 112 replies
This upgrade to the other airport may present a real solution to the problem.
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13 July 2024 | 22 replies
I attended a weekend long event where Tyler was the presenter for RE Mentor a few years ago and I can tell you that Tyler is the real deal.