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3 September 2024 | 5 replies
Depending on your personal needs from a mentor, you may also want to just start talking with Brokers, Property managers and attorneys in your area.
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4 September 2024 | 8 replies
Had you called a broker you would have had about 90% of that extra money in your pocket.
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3 September 2024 | 2 replies
I am a Licensed Real Estate Associate Broker in Colorado who has been reading everything I can get my hands on as well as running through scenarios with my employing broker.
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4 September 2024 | 8 replies
Specifically i found that we had to coordinate keys, the seller move out, the closing times, wiring instructions, and various other little details to get the deal done... being this was our first one, it was unclear who communicates all of these as there was obviously no agents or brokers involved.
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3 September 2024 | 2 replies
Contact commercial brokers with your deal.
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4 September 2024 | 7 replies
Property ARV: $450kTotal in: $350kMonthly rent: $4000Monthly taxes & insurance: $530[Loan 1] (via broker)75% LTV1.5% origination fee ($5062)Other fees: $1595 underwriting + $1295 processing (=$2890)Interest rate (floating): 7.25%5 years PPPMonthly P&I: $2,278Rent - PITI = $1,192***If appraisal comes back high enough, may be possible to do 80% LTV at 7.99%[Loan 2] (direct lender)70% LTVNO origination feeOther fees: $1,395 underwriting + $695 processing (=$2090)Interest rate (will not change): 7.375% 5 years PPPMonthly P&I: $2,152Rent - PITI = $1318---------------------------I really like how there's no origination fee with lender #2 so I get to keep more of the money I pull out.
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2 September 2024 | 14 replies
I'm just starting out as a note broker and I want to make my first deal.
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5 September 2024 | 4 replies
Multiple sub contractors with multiple separate contracts are not allowed..Repairs/Improvements must be completed by licensed contractor(s) as required by local/state municipalitiesRepairs cannot be completed by a related or interested party (i.e. relative, real estate agent, seller, broker, etc.)Borrower selects contractorContingency ReservesMinimum 10% is required.
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30 August 2024 | 2 replies
Most of the times, who pays the broker fee in Brooklyn, NY (specifically for this market...not rest of NYC) for rentals -- the tenant or the landlord?
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3 September 2024 | 5 replies
Thank you so much for your insights ❤️ I would recommend you speak to a mortgage broker or your bank.