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16 March 2024 | 4 replies
At least with hard money they shouldn’t come after you for any shortages if you do walk away.
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17 March 2024 | 4 replies
Remember, we are currently experiencing an extreme housing shortage, a 50-year low.Second problem: Putting on my old congressional staffer hat, IMO this won’t get through Congress.
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17 March 2024 | 17 replies
The Intel plant alone is projected to bring in additional 35,000 people and there is already a housing shortage.
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16 March 2024 | 4 replies
@Michael Ferrante despite there being a labor shortage, maintenance is never fast enough for the tenants or cheap enough for the owners.
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14 March 2024 | 2 replies
That trend stopped after the 70's but manufactured housing was a major contributor towards creating stable affordable housing.If we want to tackle our housing shortage we need to get serious about it.Here is a quick summary of the HUD changes: HUD Actions for Manufactured Homes and Communities:HUD announces a comprehensive set of actions to increase availability and affordability of manufactured homes.These actions are part of the Biden-Harris Administration's Housing Supply Action Plan.Manufactured housing is a key component in the strategy to boost housing supply and reduce costs.Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program:HUD launches the PRICE Program, a $225 million competitive grant opportunity.The program aims to preserve and revitalize manufactured housing and communities.Funding supports repairs, rehabilitation, replacement of units, infrastructure upgrades, and community resilience.Available to states, local jurisdictions, tribes, nonprofits, community development finance institutions, and other eligible entities.FHA Draft Policy for Manufactured Home Communities:FHA posts a draft policy to solicit public feedback.The policy aims to promote stability and affordability for individuals and families in existing manufactured home communities.Allows resident-owned cooperatives and mission-oriented borrowers to access FHA-insured financing for purchasing or refinancing.Updates to FHA's Title I Manufactured Home Loan Program:HUD announces updates to FHA's Title I Manufactured Home Loan Program.New methodologies for calculating loan limits to align with current market pricing.Expects the new loan limits to incentivize more lenders to participate and expand program usage by buyers of manufactured housing.Annual Recalculation of Title I Loan Program Limits:FHA will recalculate Title I loan limits annually to keep pace with home price changes over time.This ensures that the loan limits remain aligned with market conditions.Ginnie Mae's Title I Loan Securitization Program:Ginnie Mae takes steps to reinvigorate its Title I Loan Securitization program.Revisions to financial eligibility requirements for Title I Issuers to reduce barriers and increase lender participation.HUD's Ongoing Support for Manufactured Housing:These actions build on HUD's continuous efforts to support manufactured housing.Earlier actions include a proposed rule for the Community Development Block Grant (CDBG) program emphasizing the needs of manufactured housing communities.Recent Updates to CDBG Notice:HUD updated the CDBG in Support of Housing Activities notice to allow the use of funds for acquisition of manufactured housing units, services to homeowners, and investments in infrastructure and resilience for manufactured housing communities.
15 March 2024 | 10 replies
We focus on building multifamily and taking on house hacking projects.Phoenix has a water shortage so recently changed some laws to make guest houses or additional units more acceptable.The bottom line is, once you decide what area and what type of main house you want, go search for a good deal and then add a little value for higher rents.
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15 March 2024 | 3 replies
While there's no shortage of options out there,as you mentioned, such as PropStream, DealCheck, REI Simpli, and Podio, the aim is to stand out by honing in on what really matters to investors: ROI, value, performance, efficiency, and possibly price.Expanding on what matters as outlined earlier, here are my assumptions regarding what investors might require if I were to launch a product today:User-Friendly Experience: A platform that feels like second nature to real estate investors, with intuitive design and features that make life easier.All-in-One Solutions: A toolbox stacked with everything necessary for successful investing—from finding leads to analyzing deals and managing properties.Seamless Integration: Make workflow smoother by seamlessly connecting with other essential tools and platforms you rely on.Insightful Analytics: Next-level decision-making with advanced analytics and data visualization that help you optimize investment strategies.Now, the challenge lies in the fact that every investor is unique, and the features might be excessive if they don't offer genuine value.
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14 March 2024 | 19 replies
Reason for this drop is just simply high utilization due to a last minute shortage of funds for closing on another property just recently...This person will be able to simply pay down this high utilization that had now crushed his score but in the meantime he still has 3 other properties under contract and he is concerned about this single family deal (other 2 are multi and is rehab).
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12 March 2024 | 105 replies
@Marcus AuerbachI'm with you on this, we have a housing shortage and a labor shortage and I don't see any major changes coming.