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14 August 2024 | 10 replies
As I matured in my career I have expanded my lender network and product line with the goal of carrying a very wide variety mortgage products at the best rates.
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11 August 2024 | 13 replies
For larger bridge loans and development deals they are solid Originally posted by @Jay Hinrichs: Tarik I dont think she said she was refinancing i think she said she is looking to finance so probably an purchase money loan My main point was that these scale of loans the borrower needs to look within and be realistic if they can truly qualify.I am not sure if this company will take the 10k when cursory information reveals a high chance of loan being rejected..and if borrowers are qualified for this type of financing they usually have a pretty good grasp on whats needed.
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11 August 2024 | 7 replies
Personally not a fan of out of state BRRRR.I think it's a recipe for disaster and having been in the game for 10+ years, I've seen the disaster first hand as I bought hundreds of deals from disgruntled out of state investors who thought they can do it themselves.My property management company has doubled in 12 months also due to out of state investors getting caught with a poor property manager when trying to do it themselves from afar so they come to us for help 🤷♂️I'm seeing many investors buying D class crap on the MLS for too much and that needs work.They end up being into the property for 30% more than they would be that if they just bought turnkey.A true turnkey provider will find the cheapest/best deals through a variety of acquisition methods, renovate well and sell for fair market value (And manage in-house).If things go South, they are solely to blame and the penny drops with them.But with DIY, who is to blame?
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12 August 2024 | 12 replies
They're offering about 75k worth of incentives, and I'm allowed to use that in a variety of ways.I'm lowering the price by 65k, and using the rest towards closing costs so I can have cash on hand for the next property.
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13 August 2024 | 55 replies
We discuss a variety of strategies.
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12 August 2024 | 37 replies
For a variety of reasons, it may be necessary for a property owner to no longer hold legal title to a property or have an entity he controls hold title.
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16 August 2024 | 277 replies
During the Inspection, it revealed some issues with Plumbing, mold, Mildew, Termite.
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19 August 2024 | 244 replies
I definitely tend to skip any questions that are way too vague or of the TLDR variety.
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15 August 2024 | 86 replies
There is a theme of a lack of due diligence, reserve capital, budgeting in general, tenant screening, location, inspections, leverage, property managers and just a variety of general amateur mistakes/learnings...
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8 August 2024 | 22 replies
Court hearings revealed that instead of acquiring advertised properties, Scoutpads/MBD only purchased options on those properties and never exercised them!