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16 June 2024 | 27 replies
You need a team of:General contractor, property inspector, trustworthy lender (they will have appraisers, and title company), property manager (make sure is large enough that if the person that manages it gets sick someone else will cover), insurance agent, and a real estate attorney in case you need a consultation, and most importantly an accountant with a lot of real estate experience (this will be a major ally as you grow your business)Line up your team even before you look for the property.Go to networking events.
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15 June 2024 | 87 replies
I suspect with commercial loans it goes farther than alienation is an event of default but there I would suspect is specific language as you allude to. or maybe they are all the same alienate the title and you cannot stop a foreclosure unless you pay it off and its at the lenders sole discretion But I dont think tehre is a clause that says you MUST inform the lender.I think it’s covered by the implied covenant of good faith and fair dealing, and have always counseled my clients that way.
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13 June 2024 | 4 replies
In the event that Borrower is in default then the interest rate will increase to fifteen (15%) percent per annum from the date of the default to the date that the default is cured or the loan is paid off in full, and Borrower will be assessed an additional loan fee of 2% of the principal amount.
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12 June 2024 | 2 replies
Are there specific networking events, online platforms, or strategies that have proven effective for building relationships with investors?
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12 June 2024 | 20 replies
If you want to learn more on the Eastern shore market, then you can just search the event on bigger pockets for more details.
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12 June 2024 | 9 replies
You wouldn’t double reserves but you might add an additional 30% per property because the more you have the more likely 2 big events happen at the same time.
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11 June 2024 | 4 replies
I'd recommend attending CTREIA events.
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18 June 2024 | 83 replies
I think two trends converge simultaneously here, first is the interest rate hike (due to covid) and open AI announcement in 2022 ; both events are just accelerating the inevitable.
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11 June 2024 | 15 replies
If when you bought you got specific confirmation from someone on the board that it was okay - I've seen people win cases in that event.
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11 June 2024 | 6 replies
A great way to get connected is through networking events.