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20 August 2024 | 5 replies
Perhaps all I need is a pre done template for Hubspot/Odoo/etc.
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20 August 2024 | 0 replies
Next time on a MAJOR renovation project, I'd have the City of Johnson City Building Inspector join me for a pre-purchase tour to tell me what permits and what jobs they'll require of me.
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20 August 2024 | 8 replies
But worth it by not paying the taxes and just rolling them into the new property.
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21 August 2024 | 9 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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20 August 2024 | 8 replies
So depending on how much 2% is I'd wait until I had equity in the property to do it and cover costs so I could if needed roll in points.
19 August 2024 | 6 replies
You purchased it with a HML, and are now rate/term refinancing the $1.5m (75% of $2m) hard money loan for better terms b/c you show six months of stabilized rent, the T-12 and rent roll with the monthly breakdown shows a clear trend towards where we are at now.Your hard money loan matures at the 2-year mark, but you weren't silly enough to call me at the 1 year and 11 month mark, so my partner lenders that have great terms, but move slower, are on the table.
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19 August 2024 | 10 replies
What we do at the bank and with most banks is either get your builder approved or we can provide you a list of the already approved builders that have built successfully under the program.If you trying to get started the first thing is get your Pre-approval set up and start the processing.
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18 August 2024 | 12 replies
Not the cheapest but they have landlord’s insurance and some liability all rolled in.
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19 August 2024 | 9 replies
And the joy of syndications, just like any other business, you kind of get to choose who you attract.As you note, Jay, the jets and Rolls Royce and photos with celebrities certainly get attention.
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19 August 2024 | 9 replies
At this time, we do not allow builders to market any more ground up construction projects (pre-construction) as we have been made aware that there are significant delays in the construction industry.