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22 January 2025 | 22 replies
If so, no need for the red carpet or engagement photos, just focus on what they really care about: a great property, immaculately clean, and a seamless guest experience.It feels like you’re trying to cater to anyone and everyone, which can dilute your overall appeal.As for the garage games, many guests might actually prefer parking in the garage.
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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12 January 2025 | 8 replies
The voters in Red States would never allow a national rent control.
3 January 2025 | 8 replies
Up front fees (outside of appraisal fees) are typically a red flag when dealing with a HML.
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12 February 2025 | 156 replies
Then you can take that cash and buy quality real estate, accumulate the cash flow and grow your portfolio-wide before you grow it deep - meaning paying off loans.
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5 January 2025 | 7 replies
Unless you're buying it at a deep discount, no $280k home rents for $2,500.
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9 February 2025 | 36 replies
If a sponsor is touting a 7.3 entry cap in a 6.4 cap market, I'd be digging really deep into how that 7.3 was calculated, and how that 6.4 was substantiated.
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19 January 2025 | 354 replies
Very few fund raisers ask the deep due diligence questions they should.
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6 January 2025 | 6 replies
From personal experience, this can motivate them to do a final deep clean before handing over the keys.Finally, for peace of mind, you might consider consulting a local real estate attorney.
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26 January 2025 | 30 replies
We’re property managers based in Redding, CA, and the laws here favor the tenants, making situations like this even trickier.