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7 February 2025 | 13 replies
In 2021, my company earned just under $1,000,000 in net revenue and I personally pocketed about $325,000.
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19 January 2025 | 6 replies
Almost every realtor has several investors ready to invest at least $2 million in cash.If you’re planning to use hard money loans, agents won’t show properties without prior proof of funds.I’m curious, is this a general market trend in Ohio or just this particular realtor’s approach?
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23 January 2025 | 15 replies
Companies normally offer limits up to$500,000 but some offer $1,000,000.
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20 January 2025 | 6 replies
I'm still in the process of growing my portfolio, but have heard others 1031 all their smaller properties into a larger building and have a property management company manage, OR, set up a seller financing deal with another buyer that gives you the cash flow you desire.
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9 January 2025 | 6 replies
Business loans typically won't let you purchase a property if you read the fine print.
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7 January 2025 | 7 replies
Hi Dean - we had access to a DSCR product until a couple weeks ago - it's currently paused, per my conversation with one of the loan brokers I work with.
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19 January 2025 | 47 replies
Within the first month I believe the company byte federal has a data breach.
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12 January 2025 | 8 replies
Another work around that isn’t discussed much is working on a strategy with your insurance company to protect your other assets in the event of a claim.But also, it wouldn’t be a bad idea to consider getting the financing into your LLc name with a community bank and pulling cash out if you have substantial equity.Right now, since the loan is in your name, it shows up on your personal credit report.
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2 January 2025 | 19 replies
Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.
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13 January 2025 | 15 replies
Quote from @Brian Burke: @Chris Seveney when I started my lending company with two partners our aim was to go from $0 to $2.5M per month.