In contrast, private lenders focus more on the value of the asset, offering faster, more flexible loans for projects like fix-and-flips or rentals, which can be crucial in time-sensitive deals.It really boils down to your priorities and preferences.

Be ready for a huge amount of information at your finger tips.

Do a FNMA/FHLMC cashout refi up to a loan amount that leaves your monthly cashflow at an amount you are comfortable with. 

This property can NOT be financed by FHA or a traditional conventional 30-year fixed-rate loan.

If they're charging $500 a month AND they charge a set amount (sometimes its a months' rent or half a months rent when they get a new tenant), then they're ripping you off and you should fire them immediately without question.  

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.

What is a storm rips through and trashes the roof, BUT the condo project does not have enough insurance coverage to fix it, the value of the all the units in the project just went down. or, even if they are able to fix it but  the coverage premium doubles so the HOA has to double the monthly HOA dues but half the complex can not afford it? 

Now that you have the property purchased in the way you did, what are you looking to fix with an LLC that owns the property?

Welcome to the community and be ready for a huge amount of information at your finger tips.

Investment Info:Single-family residence fix & flip investment.