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8 November 2024 | 3 replies
Most lenders have a limit to how many draws you can take from your rehab budget and often it will cost a small fee (you can include that in your budget) so you'll want to confirm if/ what their limit is should you expect to be taking a lot of draws or complete the rehab in smaller increments.
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8 November 2024 | 38 replies
To do short-term rental, you need locational amenities and house amenities to win and that price point won't get there.Because with an STR I can write off expenses against my W-2 income ( I expect a loss the first year) if it's an average 7 day stay or less.
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1 November 2024 | 7 replies
I was offered LTV of 54%, 6% rate from a commercial lending institution but that LTV isn't feasible for me and was definately a lower LTV than I expected.
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6 November 2024 | 2 replies
Wasn't expecting this to come up.
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7 November 2024 | 51 replies
I stand by what I said earlier about access to capital - as an investor I know that its pretty easy to access large amounts of capital, and anyone who spends a lot of time, money, and energy marketing for capital is a red flag.I believe Summit has filed for bankruptcy, but as this has happened multiple times already expect them to resurface soon with a new name & new website.
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9 November 2024 | 87 replies
I definitely thought they would cut rates but that's more than expected.
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8 November 2024 | 8 replies
Let the seller’s agent know that you expect the money returned to you 30 days after the judgement of confirmation of sale is entered.
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7 November 2024 | 2 replies
Once complete, I expect this 4 family to gross $7K monthly, with a net cash flow of $3K and have $250K in equity built in.
7 November 2024 | 12 replies
Many investors in similar positions begin by building a network and learning the basics, such as understanding financing options, which can often be more flexible and approachable than people expect, especially for those just starting out.One suggestion is to set clear financial and personal goals so that you know what you’re working toward with each investment.