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21 January 2025 | 6 replies
I can become a millionaire just by looking at street and sat view and bid online in my underwear.
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21 January 2025 | 2 replies
It should detail any liens or subordinate agreements, including the unpaid balance.
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28 January 2025 | 6 replies
Detailed answer:https://www.biggerpockets.com/forums/51/topics/1136752-expla...
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22 January 2025 | 7 replies
Could you send me a dm with the details?
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23 January 2025 | 15 replies
Withoutknowing the details I can not suggest which would be right to add on.Several you should pay attention to are:- Ordinance & Law: Provides additional building coverage to deal with rebuilding costIncreases due to changes in Zoning or Building laws- Personal Injury Liability: Libel, defamation of character, wrongful imprisonment, etc.
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23 January 2025 | 1 reply
If I've left out any important needed details please let me know.
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25 January 2025 | 7 replies
I would take all of the details of your current properties, project what the sale would be, and what does that leave you to invest?
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1 February 2025 | 4 replies
Full Disclosure is Required for Non-Accredited InvestorsIf any non-accredited investors participate in your deal, you must provide them with detailed disclosure documents.The SEC states:“[The company] must give any non-accredited investors disclosure documents that generally contain the same type of information as provided in registered offerings.”This is where having a Private Placement Memorandum (PPM) and Subscription Agreement becomes absolutely necessary.A PPM outlines:✅ The risks of the investment✅ The structure of the deal✅ The terms and conditions✅ The use of fundsA Subscription Agreement ensures:✅ Investors acknowledge they understand the risks✅ They meet SEC requirements✅ They legally commit their capital🚨 Not providing these documents could leave you vulnerable to investor lawsuits.4.
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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%?
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9 January 2025 | 13 replies
Continue with a viewing, additional questions, get applications, run ALL checks, and then make a decision.By being very clear about requirements, you will catch most early in the process and can let them know.