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4 January 2025 | 7 replies
In my state I think we have 14 days to provide a list of deductions to a tenant if money is to be held.
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4 January 2025 | 26 replies
We should be able to templatize routine reviews, although it certainly doesn’t provide any detail about why I was a good guest.
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1 January 2025 | 26 replies
I am not acting in an agents role as I am providing the service to help the owners sell their assets, while enabling the buyer to acquire cashflow positive deals that banks are not providing with current rates.
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3 January 2025 | 2 replies
Good luck on your journey and I hope you provide the financial security you hope for to your daughters.
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9 January 2025 | 20 replies
Do they provide good service, however you define it?
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5 January 2025 | 39 replies
., provided a proforma on each property.
3 January 2025 | 4 replies
I can definitely provide a recommendation.
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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2 January 2025 | 32 replies
I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects.
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8 January 2025 | 14 replies
I'll throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).