Delroy Watson
Unfinished Basement conversion
13 January 2025 | 6 replies
If anyone has done this type of project before and has a detailed/itemized breakdown of project cost (invoice), I would truly appreciate if you can provide me with a copy and any guidance.thanks!
Cameron K.
Philadelphia 2024 - Top Hard Money Lenders
17 January 2025 | 6 replies
I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon.
Jorge Vazquez
Ever Had to Fight an Appraisal? Let’s Talk About It!
19 January 2025 | 0 replies
Hey everyone, I just finished developing a detailed guide on how to read and dispute appraisal reports effectively, and honestly, I’m amazed at how often small errors can significantly undervalue a property.
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
19 January 2025 | 8 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
Christopher Helwig
Multi-media Documentation of Flipping for Potential Buyers
9 January 2025 | 3 replies
To address this I took detailed pictures from beginning to end of my most recent flip, documenting that we did a thorough job using quality materials.
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
13 January 2025 | 2 replies
On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
Pierre Tran
Advice Needed: Options to Cash Out My Equity Without Disrupting a Seller Carry Deal
12 January 2025 | 1 reply
Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.
Ian Morales
Looking for rockstars referrals in Southern Florida
18 January 2025 | 0 replies
To ensure a smooth process, I am seeking a referral to high-performing real estate agents with experience assisting military members in navigating this journey.Attached to this message is a link detailing the basic criteria for the type of property I am looking for.Thank you in advance for your assistance and support!
Troy Smith
Refinance step of BRRR
13 January 2025 | 11 replies
If possible, meet the appraiser to provide your rehab details and comps.Also, out of curiosity, when did you purchase the property and when are you looking to refinance?
Pilla John
Curious Question for Fellow Owners!
19 January 2025 | 1 reply
—it’s also about reliability, attention to detail, and someone who just “gets” your space and your guests’ expectations.Do you have any hidden gems, local recommendations, or tips to share?