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21 February 2025 | 2 replies
Trying to get into the nuts and bolts of how he was trying to source a location, project size of preference, what type of financial modeling he does, what kind of tenants he was hoping to attract/the strategy behind it, if he was doing any joint ventures or had done any in the past, if he had taken part in any syndications, what management strategies he was implementing with his current properties to maximize lease uptime and profit, what types of leases he generally favored contracting for his properties--all of that was like pulling teeth.
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11 February 2025 | 15 replies
Very likely the condo project would not even be eligible for an FHA loan.
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25 January 2025 | 7 replies
Having a rock solid SOW can prevent many of the issues that arise during any project.
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21 February 2025 | 13 replies
I doubt we will buy off the MLS but I am trying to find a good way to visualize MLS data so that I can plan our next purchase and get a "steal" that I will have instant equity or rehab for equity with the goal of getting a decent HELOC going.Because real estate values are so location based, it is hard for me to process the data on a spreadsheet, because I'm constantly trying to project it onto a map in mind.To know if what I'm looking at is a deal, I would like to be able to see $/sq.ft. data visualized on a map with either current listings or preferably sold properties.
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31 January 2025 | 10 replies
If you truly are limited on time or can't make investing a priority, you should look for smaller projects as others have recommended.1) General Contractors are available to run your project, but most are too expensive to make ROI work on smaller projects. 2) A great PMC can act as a Project Coordinator for rehabs, but many won't be transparent about the costs, so you know what you are paying for.
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5 February 2025 | 5 replies
Compare this to other hard money lenders to ensure you’re getting a competitive deal.Reputation: Before working with any lender, it’s crucial to check reviews, reach out to other investors who’ve used them, and potentially even meet with them in person.Experience with BRRRR: If possible, find out if they have experience funding BRRRR projects specifically.
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14 February 2025 | 6 replies
Just to clarify, when I say timeline dates I don't mean just "project to be completed by (Date)"That's required by FHA/Lender, but in my 20 years of construction experience not nearly what you need haha.
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31 January 2025 | 2 replies
He used to be great from the beginning of the projects.
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27 January 2025 | 5 replies
At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.
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10 February 2025 | 1 reply
The first rate cut is now projected for mid-2024, but this could change depending on inflation trends and labor market conditions.