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14 February 2025 | 19 replies
@Troy Smith might be worth having a local agent take a look at your comps with a CMA and then weigh out whether your 'spring market' will bring better sales comps, or if the sales from the past 6 months will get you the value that you are looking for.Here's a quick go-by for seasoning requirements for much of the investment property lending world.
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4 February 2025 | 11 replies
If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..
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12 February 2025 | 7 replies
Some sellers prefer to work with a local lender, usually advice given to them by their agent.
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8 February 2025 | 3 replies
., from crypto) by reinvesting the gains into a Qualified Opportunity Fund (QOF) within 180 days.
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21 February 2025 | 12 replies
You need to charge whatever you are having to pay, and that will vary by market and cleaner.
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2 February 2025 | 6 replies
I was told by my agent that I need to get the tenant out because it would be easier to sell.
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4 February 2025 | 10 replies
Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development.
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4 February 2025 | 5 replies
@Jose Morales Is there a reasonable expectation backed by fundamentals suggesting these properties valued at $25K will appreciate?
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21 February 2025 | 10 replies
I would be more excited with my profit going up by 12% than theirs.
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4 February 2025 | 1 reply
@Jermaine Wesley thanks for sharing, as a retired Navy veteran I am stoked to see that you Mr deployment savings were supercharged by this project!