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18 August 2024 | 1 reply
A hypothetical to see how people factor costs when rolling equity forward into additional purchases.For this example assume you purchased property “A” for 100k, and put 25% down. 2 years later you sell it for 125k so you now have 50k (25k from your initial down payment + 25k in equity).
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23 August 2024 | 10 replies
@Steven Kim- make sure you have a pre approval in place from a lender for the amount needed ..likely will need the down payment to be 25% of the purchase price
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25 August 2024 | 23 replies
First, they required me to use their hard money lender and to get pre-approved with them before they would send me their properties. lol.
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23 August 2024 | 21 replies
To me that should be rolled into the quote.
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23 August 2024 | 8 replies
Just note a DSCR will often have a pre-payment penalty and has higher fees/rates.
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23 August 2024 | 7 replies
My thought would be househack with minimum cash contribution, force some equity, then do a rate/term refinance roll in costs and get refunded your escrow balance and another $2k at closing.
22 August 2024 | 6 replies
(EMD, Pre-Look, Money goes hard when, Days for due diligence, days to close, etc.)
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21 August 2024 | 2 replies
Are there any PMLs who will pre-qualify you so that you can pull the trigger (with their approval) ASAP?
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22 August 2024 | 10 replies
Particularly around the Springfield Town Center, where 2 million square feet of commercial space and thousands of residential units are in the works by property owner Pennsylvania Real Estate Investment Trust (PREIT), to be delivered by 2026.Below I will go into the reasons why Springfield Virginia real estate market has strong potential for future growth in the coming yearsSpringfield Town Center is Approved to add 2 million Square Feet of Commercial Space and Thousands of Residential Units, Coming in 2026Although many malls suffered greatly during COVID-19, certain malls have begun to make a comeback, such as the Springfield Town Center, which not only is at pre-pandemic levels of visitors and retail vacancy of 4%, but the average time of visit has increased for the mall.
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21 August 2024 | 5 replies
Unfortunately, your accountant is right about this one.In a 1031 exchange, the goal is to roll over all the proceeds into the new property to defer the capital gains tax.