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5 December 2024 | 14 replies
I am an investor and realtor as well but I focus mostly on fixing up distressed properties to increase value and grow the equity and that usually allows better cashflow also.
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30 November 2024 | 12 replies
Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.
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3 December 2024 | 5 replies
They started the business from scratch in 2003 with a combination of wholesaling, fix-and-flips, and non-conventional financing sources like private lending, seller financing, and lease options—which remains their expertise today.If you had one question for a professional real estate investor who retired themselves by 37, what would it be??
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26 November 2024 | 17 replies
I also reached out to a small local bank that is offering me a $200K cash out refi- at 6.7/8 60% LTV- 30 year fixed.
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29 November 2024 | 8 replies
Quote from @Jim Reynante: After owning properties C/D neighborhoods with high crime statistics, I have experienced all of the things that go along with it: 1) High turnover rate; 2) Tenants that don't care for the property; 3) Little/No appreciation in home value; and 4) High Crime Rate (burglary, vandalism).I am pretty tired of fixing broken windows, fixing broken doors/locks, and painting over graffiti.
22 November 2024 | 2 replies
Is this a diy-fix, professional fix, or a complete replacement?
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3 December 2024 | 22 replies
Notably, there is often an unfortunate cycle where: (1) current ownership has financial struggles; (2) this requires the current ownership to fire sell or declare bankruptcy; (3) the development suffers as a result; (4) new ownership comes in and tries to fix it; and (5) the cycle repeats.
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28 November 2024 | 10 replies
I disagree, I had a time when my name and the name on the insurance didn't match and the lender was all over it, regardless of the on-time payments.Your best bet is to refi into a commercial loan that allows the LLC (if you've already purchased the property), or close directly with a commercial loan / DSCR loan.
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28 November 2024 | 22 replies
Quote from @Bryce Nesbitt: Sure, but you can't depend as a MF owner on everyone setting their car timer to match the building needs.