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29 January 2025 | 12 replies
Meet-ups via local groups or via zoom calls or private REI clubs/groups.Asking a seasoned agent in each city/county as well as a Banker/Loan officer will also help put a plan together.
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6 January 2025 | 7 replies
DSCR Loans - Both Purchase and Cash Out Loans- Investors typically use these on the cash out portion of the BRRRR Strategy - Minimum Downpayment, usually 20% but some lenders offer 15% down - Max LTV on Refinances, typically 75%, but some lenders will do 80% - Minimum Title seasoning (since the property was purchased and recorded on county records) is 90 days, although some lenders have no seasoning at all as long as you can show rehab work completed. - 30 year fixed terms - Usually have a Prepayment Penalty from 1-5 years, although you can price out a 0 PPP for a higher rate or fee- Minimum Credit score is 650 usually, although you could do a lower LTV loan at 620.
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7 February 2025 | 13 replies
If the house is older than 15 years old and an ADU is added, it can become rent controlled.
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7 January 2025 | 3 replies
Work with your attorney for what is needed to insure all subcontractors get paid by the General Contractor.Make sure the insurance covers Construction period and also materials.Talk with your Commerical insurance agent and they should address the above questions with you.If this is an older facility make sure your engineering firm has covered Fire Suppression systems and any Storm pond or drainage systems.
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12 January 2025 | 6 replies
You will not have the rate long enough for it to interfere with your current and proposed profits.This is where having a good team comes into play for example having a seasoned realtor who knows the market on the purchase/ARV side.
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2 February 2025 | 14 replies
Inventory will naturally tick up, because of what I feel is misdirection of agents by stressing spring season selling.
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23 January 2025 | 10 replies
Then later as you grow older and no longer want to share your space you can just stop renting the other bedroom.
9 January 2025 | 7 replies
The main hassle of conventional lending is being able to provide proof of income and seasoning.
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3 February 2025 | 47 replies
I suggest before that, get heavily networked into your target market. namely with the older investors.
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1 January 2025 | 3 replies
Luckily Airbnb roommates are much better because they are gone a lot and you can take breaks / just rent in high seasons, etc.