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28 December 2024 | 1 reply
I borrowed $110K from a private lender for the purchase and self funded the repair of the offices. 3 months later, I rented 6,000 sq.ft. of office space to a corporation for $21,000/month + utilities for 5 years with another 5 year option.
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2 January 2025 | 8 replies
However, it will be hard to make the numbers work if you are borrowing 100% of the purchase price.As others have said, house hacking is probably your best option right now.
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9 January 2025 | 21 replies
But if you are really set on RE you may want to explore options of borrowing against them or taking cash out early.
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2 January 2025 | 10 replies
They remain whatever the original borrower has.When you use typical financing from a lender, you have the lender's hoops to jump through and loan origination fees, the appraisal has to come in at a certain number, oftentimes an inspection or appraisal will kill a deal.
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29 December 2024 | 7 replies
The lender is the one who sets this up as they are the ones who typically pay since its them who is to provide this as well as keep track of the loan, but only be a borrower if they use a servicer.
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15 January 2025 | 39 replies
Equity pay down is ~$200/month for each $100k borrowed depending on rate you get.
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27 December 2024 | 18 replies
The borrower defaulted and was a few months behind.
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29 December 2024 | 6 replies
The bank then understands that their borrower no longer owns the property and calls the note due.
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26 December 2024 | 3 replies
Remember that the leveraged purchases are not going to add significant cash flow immediately and borrowing against existing properties will also reduce their cash flow.
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4 February 2025 | 87 replies
I didn't see where you're going to borrow any money in the projects, which would improve your returns even more AND allow you to do more projects.