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18 September 2024 | 2 replies
Each unit has its own electric panel, gas meter, furnace, water meter.
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17 September 2024 | 22 replies
DSCR paperwork is usually less paperwork than a standard conventional loan.
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17 September 2024 | 4 replies
How is the roof, the mechanicals, water issues?
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18 September 2024 | 8 replies
I'd also look to see if water is getting in or if it was just a problem with humidity.
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17 September 2024 | 2 replies
By carefully balancing the collateral and ensuring rigorous underwriting standards, it is possible to mitigate potential downsides while capturing the upside potential, providing a compelling investment proposition in a competitive market.Uses of Mezzanine Debt CapitalMezzanine debt can be deployed effectively in several ways, including:- Liquidity Provision: Providing liquidity to set aside interest reserves for first lien lenders and tax and insurance escrows required by the first lender.- Property Improvements: Funding additional property improvements such as renovations, HVAC work etc.- Operating Shortfall Coverage: Addressing operational shortfalls during challenging periods.Objectives of Mezzanine DebtThe primary objectives when using mezzanine debt include:- Project Stabilization: Completing renovations, construction, or improvements and then stabilizing the property with 90%+ occupancy.- Interest Rate Management: Buying time until interest rates normalize or decline.
16 September 2024 | 37 replies
Our waste water goes to Mexico, maybe that’s what they meant?
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20 September 2024 | 31 replies
Because it's standard in most contracts to have an inspection period I make my offers based on the photo and the asking price from the ARV.
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20 September 2024 | 23 replies
You will likely see a fairly standard band of costs for comparable services.
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17 September 2024 | 1 reply
We needed an upgraded 200amp electrical panel ($5-8k), extended water and sewer for the garage ($5k), built out interior ($7k?)
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16 September 2024 | 11 replies
Scenario 1: 5/1 ARMRate: 5.675%Monthly Payment: $5100Prepayment Penalty: 3/2/1Closing Cost: Broker Fees: $11,016 (1.25%)Lender Fees: ~$2,000Loan Fees: $600Plus standard title and other feesScenario 2: 30 year fixedRate: 7.375%Monthly Payment: $6086Prepayment Penalty: 5/4/3/2/1Closing Cost: Broker Fees: $11,016 (1.25%)Lender Fees: ~$2,000Loan Fees: $0Plus standard title and other fees5/1 ARM looks attractive but not sure if that's what other people opt for that for a STR property?