
4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

15 January 2025 | 18 replies
If you kept the property, and accumulated the CF/yr, it would take you 25 years to get that same equity that's sitting, frozen in your property.Also, if you cashed out and used that same equity as a DP on different RE, at 20% DP, that equity would buy you $2M in PV, not just $700k,...and, I'd be willing to bet, you could find new RE that would have a yearly CF well over $20k/year.On top of that (remembering my initial statement above), any appreciation applied would be applied to $2M, not just $700k.

29 December 2024 | 5 replies
That said, my main question is, can you recommend a good mortgage brokerage company that offers all the training points you outlined in your post?

2 January 2025 | 0 replies
You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

3 January 2025 | 0 replies
Or is it better to utilize different strategies?

9 January 2025 | 107 replies
It's not what I would call a super rough, probably different street by street, and would most likely depend on the neighbors right around the property.

5 January 2025 | 5 replies
You will also need different levels of staffing to support the various strategies as you are already realizing.

5 January 2025 | 33 replies
how will you do things differently than those folks did?

5 January 2025 | 5 replies
You absolutely want to be concerned with this.I would just argue what you're concerning yourself with today may be totally different in that 10-20 year period.