13 June 2024 | 2 replies
It's a medical office building located in Prosper, TX and here's a breakdown of the key details:Property Details:Sale Type: Investment or Owner UserProperty Type: OfficeProperty Subtype: MedicalBuilding Size: 9,657 SFBuilding Class: BYear Built: 2023Percent Leased: 100% (Currently Fully Occupied)Tenancy: Multiple TenantsBuilding Height: 1 StoryLand Acres: 1.00 ACZoning: CommercialFinancials:Purchase Price: $676,000 + $81,000 Tenant Improvement (TI)Down Payment: 20%Commission: $22,000 (agent commission)Monthly Rent: $5,400 + NNN (exact expenses not specified)Vacancy (First 6 Months): Estimated expense of $27,600 (assuming rent starts after 6 months)Mortgage Payment Options:25 year term - $4,000/month15 year term - $4,600/monthLooking for Your Expertise:Does this fully leased medical office building present a good potential investment opportunity?
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12 June 2024 | 7 replies
Just passed the 2 year mark of living in our current condo and about to move into the vacant unit of a 4 plex back in the state we grew up in. I probably should've made this post prior to purchasing but as they say, t...
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13 June 2024 | 9 replies
for owner occupied there are some construction to permanent loan options if can go full doc
14 June 2024 | 10 replies
Since it is owner-occupied at the moment, I would go conventional and then use that plus hard money/DSCR to purchase your next deal.
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10 June 2024 | 3 replies
Commercial lenders object to it being owner occupied.
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11 June 2024 | 5 replies
Hi everyone. My husband and I are very new to the real estate world. We purchased our first duplex last year and we are currently house-hacking it. We used an FHA loan for the low down payment option. We want to start...
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12 June 2024 | 2 replies
Details:- 19 occupied spaces, currently grossing ~$6,900/mo- 9.5 acres with enough septics and wells (and approval from the county) to have a total of 44 pads!
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15 June 2024 | 54 replies
Linwood Ave from Dave Koehn | PDF Attachment8/29/2016 - Received photos of 2021 Linwood Ave from Dave Koehn at Morris Invest8/29/2016 - Brian Freeman e-mails Dave Koehn of Morris Invest to take the Linwood property8/29/2016 - Nicole Meckley emails Brian purchase agreement8/30/2016 - Nicole Meckley emails Dan from Paramount Title9/7/2016 - Sale closing of Property9/12/2016 - Nicole Meckley sends me info for the cost to rehab; ($5,100) | Estimate Attachment | Wiring Instructions10/3/2016 - Nicole Meckley responds to Brian Freeman that the flip is now complete and they will send photos and start marketing the property;Note that the property never needed to be “marketed” as there was purportedly a tenant already in place at the time of sale of the property (see 12/13/2016 below)10/13/2016 - Nicole Meckley writes that the flip is complete and she only has a photo of the furnace because there’s a tenant in already;Note that if any rehab was done it was while there was a tenant occupying the property10/18/2016 - Nicole Meckley writes all of the contacts at Oceanpointe to start rent deposits;Note that Oceanpointe likely received and collected a month rent without remitting it to the new owner from closing date of 9/7/201610/31/2016 - I notify Morris Invest that I have already been cited by insurance for an improper dog breed;11/15/2016 - I write Clayton Morris that I never saw the before & after rehab photos; I ask for the lease paperwork.11/18/2016 - Bert Whalen tells me he will send me the photos personally;11/29/2016 - Nicole Meckley writes an email with photos after the flip that are of poor quality; she sends the repair estimate that states what was fixed; | Part 2 | Estimate11/29/2016 - Brian sends payment by wire via Wells Fargo $2,55012/13/2016 - I inform the Morris Invest team that I still do not have a copy of the lease;12/13/2016 - Clayton emails me a one page lease signed by a Kent Stork on 7/2/2016 (prior to my purchase of the property - I did not notice this at the time)Copy of lease4/17/17 I write to Clayton Morris informing him that the taxes doubled from the advertised taxes for the property;11/2/2017 - I write to Clayton informing him that I am being sued by the Marion County Health Department; | Copy of Summons and Complaint11/3/2017 I write to Clayton Morris asking if it’s normal to get sued by Marion County; he replies yes that his office handles it;11/3/2017 I write to Clayton Morris informing him that is was a surprise there were so many reported issues with the property;12/29/2017 - I inform Clayton / Oceanpointe that I was cited again and he tells me that they are working on it.
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12 June 2024 | 2 replies
My wife currently stays home with our 3 children and I work a mid-level corporate job ($76K salary), so my DTI ratio is high.I have identified 30 properties in my area that are either vacant land or are occupied but make some sense to slice off 7-12 acres for this move.
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13 June 2024 | 9 replies
If you go to do the move out inspection on 7/1 and they are still occupying the home, then start the eviction process and include whatever holdover charges the lease allows for in your petition.I know everyone is in favor of you starting the eviction process now, but given their move out date is so close, I would wait.