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26 January 2025 | 2 replies
Its my understanding through my reading/research that 35% is the typical number.
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28 January 2025 | 4 replies
We've worked with local banks and been able to finance the three we own without any issues.I don't necessarily know if it's "beginner" investor friendly but you'll learn everything you need in the bootcamp which is the gold standardWe get loans with 3-7 year balloons and 25 year amortization typically
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26 January 2025 | 51 replies
And you can also buy them when they're beaten down and underpriced due to market overreactions like currently, due to rapid rise in US 10yr rate.I've read and watched multiple Good Egg offerings and they are typical of many feeder funds and to be fair like many primary GP/syndicators as well for both taking on unnecessary risks and also charging confiscatory fees, as #1 they have no skin in the game and #2 they get a big cut up front whether project fails or not, find GPs that are investing >10-15% of their own cash into every deal.good luck and sorry this happenedlooks like they are a fund of funds setting up crowdfunding to invest in other offerings.
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3 February 2025 | 15 replies
Over the decades, today's interest rates are historically pretty typical.
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24 January 2025 | 9 replies
@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.
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7 February 2025 | 5 replies
Land Basis for Condos – Typically determined using county assessor records or HOA allocation.3.
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7 February 2025 | 11 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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24 January 2025 | 12 replies
Additionally, how many calls does it typically take you to successfully close a deal using this approach?
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28 January 2025 | 8 replies
Typically an FHA lender will want to see 2 years of work history in the same field before they will approve you for a loan.