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26 December 2024 | 6 replies
Because the owners of Licensing Experts pay ALL CASH, the closing usually occurs 3-6 weeks, which is very fast compared to traditionally financed commercial deals I've seen on Bigger Pockets.The whole thing hinges on their very clever technique of getting existing commercial retail tenants engaged, willing to move into their newly acquired properties who are coming up for a lease renewal or lease expiration, rather than marketing for new commercial tenants - which would take way too long.Licensing Experts is somewhat of a "front" for their Mentorship Platform, as they evidently have many of their own separate entities for which they use to actually purchase and close on their commercial properties assigned by their mentees.
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27 December 2024 | 4 replies
I wanted to share the numbers and want to make sense if it's a good deal for us according to what we are looking for.Price: $450k (agent said that we can get it down to $420k)2 Units (1 bedroom in each unit)Mortgage with 3 year fixed comes up to around $2.3kInsurance and tax is roughly $400Rent per unit is $1.4k so if we move out then total rent comes up to $2.8kThere's a detached ADU (garage) that can give us another $100-$150 if we rent it for storage and there's a scope of converting it into another unit later on.So currently rough calculation says that it can cashflow up to $300 per month.
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22 December 2024 | 4 replies
I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units.
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31 December 2024 | 9 replies
Some refinance into a portfolio loan which is a mortgage that a lender keeps instead of selling it on the secondary market.
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26 December 2024 | 0 replies
Traditional mortgage from a big bank, 10% down payment What was the outcome?
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23 December 2024 | 5 replies
I don't think it existing back then, though.
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27 December 2024 | 13 replies
The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.
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24 December 2024 | 2 replies
Do you believe mortgage rate will start to decrease?
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31 December 2024 | 13 replies
You also need a detailed explanation of each cost item to solidify a clear scope of work for that specific task.Experienced general contractors provide computerized plans to show the current existing conditions and the proposed final floor plan.
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23 December 2024 | 10 replies
You have two options: attempt to gather these resources or collaborate with an existing team.