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5 September 2024 | 14 replies
I haven't met her yet, but can only expect a request to come out of this as well.At the end of the day, I want to address the basic needs of my tenants, but I can't help thinking that either that people got word of the original showerhead I replaced, or they're just taking advantage of the rent increase.
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5 September 2024 | 4 replies
Borrowers are not allowed to complete any of the work themselves as sweat equity.Loan to Value Calculations:The original principal amount of the mortgage may not exceed Fannie Mae’s maximum allowable mortgage amount for a conventional first mortgage.Purchase: For a purchase money transaction, the LTV is determined by dividing the loan amount by the lesser of the “as completed” appraised value of the property or the sum of the purchase price of the property and the total rehabilitation costs.Refinance Transactions: For a refinance transaction, the LTV is determined by dividing the original loan amount by the “as completed” appraised value of the property.Eligible Renovation:There are no required improvements or restrictions on the types of repairs allowed.
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27 August 2024 | 18 replies
After all, banks require a separate EIN for each series and each series is a separate entity for all purposes.My approach is to use both the series name and the LLC’s name in the EIN application.
4 September 2024 | 12 replies
For this example, let's say you have completed renovations, your property is now worth $100k, and you took out a bridge loan to fund your original purchase and the rehab costs.
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5 September 2024 | 13 replies
You might also consider a reverse 1031 exchange, where you buy the replacement property before selling the original, allowing you to secure a better deal.
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4 September 2024 | 3 replies
There are several niches that we will explore and focus in order to be successful, but we have found that we typically see returns of 2-5 times of our original investment.The challenge with entitlement is there's definitely quite a bit more risk involved as well as a very complicated process (hence the higher return).
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9 September 2024 | 46 replies
I just hope it's not going to detract from why you originally founded the site.
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4 September 2024 | 9 replies
I am 98% in the Tampa marketHowever, I am originally from Atlantic City NJ area and actually manage 1 outside of AC and had previously managed a couple in the Long Beach Island area.Obviously very seasonal market but the one I have in Ventnor was bought for around $800k and grosses around $120k per year, 80% coming MDW-LDW
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4 September 2024 | 84 replies
Originally posted by @Andrew Acuna:I've been on BP for a bit and I've noticed something.
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3 September 2024 | 20 replies
Originally I used Mint, then Personal Capital, followed by Mint again.