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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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6 January 2025 | 8 replies
As a wholesaler, having the first look at a property is a cool perk of the skill set. checking to see if the numbers work comes first, but secondly if not first part A, how will the property be managedAnyone investing in multifamily out of state, what’s the difference between the different amount of units?
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7 January 2025 | 11 replies
Columbus & Dayton are great markets for investors but present different types of opportunities.
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3 January 2025 | 2 replies
If you are a buy and hold investor and have no plan to force equity that is a different story.
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6 January 2025 | 3 replies
How long it takes to be financially ready is different for everyone.
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8 January 2025 | 4 replies
Looking for the forums help in understanding all of the different avenues you would be exploring if you were me in posting this portfolio for sale.
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6 January 2025 | 11 replies
How long it takes to be financially ready is different for everyone.
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5 January 2025 | 5 replies
You will also need different levels of staffing to support the various strategies as you are already realizing.
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1 January 2025 | 2 replies
Wanted to know if landscaping is a tax deductable expense in general and if it differs when one unit is owner occupied.
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5 January 2025 | 17 replies
They are very different, which is making me struggle with comparing them.