12 June 2024 | 3 replies
These loans are structured with a combination of a first mortgage from a conventional lender (typically covering 50% of the project costs), a second mortgage from a Certified Development Company (CDC) backed by the SBA (covering 40% of the costs), and a down payment from the borrower (typically 10%).Bridge Loans: Bridge loans are short-term financing solutions used to "bridge" the gap between the purchase of a new property and the sale of an existing property or the availability of permanent financing.
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11 June 2024 | 3 replies
Only taking action if the deal has fat projections, meaning the seller has lost his mind and wants to sell for a ridiculously low price.
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10 June 2024 | 1 reply
The tenant is deployed or permanently reassigned for military service.When a tenant is deployed or permanently reassigned for military service, he/she has the right to end the lease.
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11 June 2024 | 15 replies
Brokers (versed in these development deals to help you negotiate the right contract terms), Lenders willing to fund a construction and permanent loan, architects & engineers vs in land development to help site plan the project, contractors to price the project to help dial in your UW.
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12 June 2024 | 47 replies
Lawyers look for easy identifiable and fat targets.
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9 June 2024 | 3 replies
In Gary Keller’s book, Shift, he lists 25 creative options that are most common, but barely scratch the surface:- Seller Contributions- Seller-Funded Permanent Buydown- Seller-Funded Temporary Buydown- Owner Financing- Contract For Deed- Seller Second Lease Option And Lease Purchase- Seller-Assisted Down Payment- Wraparound And Assumable Mortgage- Gift Funding- Selling And Refinancing Existing Assets- Non-Occupied Co-Borrowers- Using 401(K)- Temporary IRA Transfer- Pledged Asset Mortgage- Equity Transfer And Bridge Loan- Employer-Assisted Mortgage- Lender-Funded Buydown- Fannie Mae’s “My Community Mortgage”- Running Scenarios With Automated Underwriting Systems- Adjusting Amortization Period To Lower Payment- Adjusting Interest Rates To Cover Closing Costs- State, Province, And Local Grant Or Bond Programs- Mortgage Credit Certificate- Private LendingHe said these options barely scratch the surface.
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10 June 2024 | 3 replies
Find out their requirements to fund a construction loan and their terms to provide a permanent loan after construction.
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10 June 2024 | 4 replies
I think what Benjamin referred to is more of a custom builder utilizing a builder loan that converts to permanent after construction.
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9 June 2024 | 21 replies
This is from the official Allure installation instructions: "Do not install permanent cabinets, vanities, etc. over allure as this will prevent allure from expanding and contracting."
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8 June 2024 | 2 replies
Millennials prefer spending on experiences and there is a general shift away from 'things' to living life in a broader way with Instagram selfiesCONCLUSION: Travel and leisure growing at twice the rate of GDP is intact as the longer term trendA counter point to these three favorable points is that short-term (urban) and vacation rentals (destinations) have taken market share away from hotels and this appears to be a permanent trend.