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2 December 2024 | 21 replies
Everything has been cash so far but I have contacted several local banks and all of them have said about 1-2%+ above regular mortgage rates, 3-5y ARM with 15-25y term, and 20-30% down.
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3 December 2024 | 21 replies
I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.
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2 December 2024 | 6 replies
The vast majority of "regular" or traditional (Conv/Govt) mortgages are originated by specialty lenders and brokers and are sold in the secondary market to provide yield on bank balance sheets (think Chase or BoA) or to be securitized into MBS.
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5 December 2024 | 25 replies
The wire instructions I received were also different from the entity listed on the contract, but in my case, they explained that the funds needed to be sent directly to the contractors handling the rehab, which aligned with the project’s structure.I proceeded, and everything went smoothly, with clear communication and regular updates throughout the process.
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31 December 2024 | 97 replies
Here in TN brokerages regularly hold EM deposits; I have a dedicated account for such deposits myself, by law, even though I don't actively broker RE but just maintain my brokerage for the PM side of things.
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3 December 2024 | 6 replies
Never pay for work that hasn’t been done.3.Verify Work Regularly: Have an objective third party inspect the quality of the work weekly and provide updates.
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3 December 2024 | 3 replies
They're spending tax-payer money, so they'll cut a check without batting an eye.Document condition before and after with photos, inspect regularly, and you should be fine.
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15 January 2025 | 144 replies
Which, without a lot of defaults would yield in a high return.Two, many regular people perform better with a coach and having some initial investment in a product.
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30 December 2024 | 89 replies
The only reason a property owner would agree to rental arbitrage is if they see it as advantageous to them over taking a regular tenant.