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18 February 2025 | 4 replies
As mentioned in my original post, the use of a lower property tax expense projection (even lower value than the year before the record sales price) in the pro forma should never have passed any due diligence check (it was 70% off from pro forma!).
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2 February 2025 | 5 replies
Certainly nothing ground-breaking in terms of ideas here, however I'll be very hands on (and on site) during the process to make sure that every step of the way is executed to a high standard and very carefully.Once I've hopefully developed a successful track record and gained experience, my next goal would be to move on to commercial assets (think multi-family, industrial etc) so that I can leverage my existing investor network and real estate knowledge to raise 3rd party equity and take on bigger projects.
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18 February 2025 | 18 replies
They were so good I was exceeding my own projections.
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13 February 2025 | 5 replies
Because of where interest rates are at—and how slow everything is moving—we basically made a "take it or leave it" deal.
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18 February 2025 | 9 replies
Ensure your projected cash flow covers expenses, including higher insurance and management fees.If you have anymore questions, shoot me a DM or email!
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13 February 2025 | 4 replies
I do feel like anyone serious enough will just take the two minutes to answer the seven questions, which basically just establish if they meet the minimum requirements (3x the income, Credit Score, No Pets/Smoking, etc).
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18 February 2025 | 9 replies
And both types take into consideration projected income but the residential loans go against my DTI.
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12 February 2025 | 4 replies
Ultimately, you will need to have the borrowed funds in USD and ideally in your US business entity bank account to sail through underwriting with US lenders on US properties.Caveat: the rates will likely be something like 10-12% so it would not make sense on a long-term holding, more like on a down payment on a purchase and rehab value-add project that you will eventually sell (or cash-out refinance) to pay off the borrowed funds in a few months.
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10 February 2025 | 12 replies
Hey John, just using a basic excel spreadsheet to manage leads.
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29 January 2025 | 15 replies
If it is a high-end project, I would spend on an actual lIcensed designer.