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7 December 2024 | 33 replies
As an investor myself, I moved here from Portland OR because of the strong macroeconomics of the Columbus market.
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11 December 2024 | 8 replies
Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.
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14 December 2024 | 6 replies
They can guide you on tax advantages, asset protection, and multi-state strategies.A HELOC is a smart way to leverage your equity—ensure your financing structure aligns with your long-term goals.Since you plan to add multiple properties annually, consider setting up bookkeeping and financial tracking systems early to streamline your operations.Best of luck with your BRRRR journey—it sounds like you’re off to a strong start!
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10 December 2024 | 5 replies
If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.
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16 December 2024 | 23 replies
I'm currently biased towards Indianapolis based on its job growth and affordability, but you could honestly find deals in any of the markets you mentioned (and if your heart is set on the Atlanta metro area, I'd strongly suggest the towns Union City and Fairburn based on their growth, appreciation, and price -- I almost closed on a good BRRRR deal in Fairburn but the rehab was just out of my budget).
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12 December 2024 | 3 replies
I moved from the SF Bay Area to live and invest in Reno, NV because of it being much more landlord friendly, low property taxes, close to Northern CA and Lake Tahoe, strong appreciation, and I understood the market after speaking to a bunch of people and feeling confident about the future here.
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13 December 2024 | 13 replies
Overall great macroeconomics great for investment - there's the booming tech scene, rapid growth in population and the job market, strong rental demand, and landlord-friendly laws.
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10 December 2024 | 0 replies
I am proposed GP with development / management experience, however my liquidity is tied up in a separate development initiative.
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13 December 2024 | 7 replies
That is not a benefit for you, nor any kind of evidence that they are worthy of becoming a resident.That issue aside, I would not allow someone with a recent eviction on my property unless the "unfortunate circumstance" was unlikely to recur AND they otherwise have a strong historical track record of making payments AND they would put down a very large security deposit.
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15 December 2024 | 9 replies
It has taken the last 6 months of the year to come to terms with an essentially game changing mindset: "Track the input and let the effort determine the outcomes"Initially I wanted reach a goal of $100,000 in a year wholesaling real estate.