Hi everyone,I’m curious to know how others in the community handle gap funding in their real estate deals.

I came across some critical information today that I think is important to share with you:In the aftermath of the LA fires, it has become evident that some homeowners’ insurance claims have been denied or disputed because the property title was held in a trust, but the insurance policy was under the individual homeowner’s name.This serves as a valuable reminder to review your insurance policies and ensure that the ownership structure on your property title matches the named insured on their policy.

Rents started to come down and I had to leave a lot more money in projects that I was in the middle of.  

Welcome to BiggerPockets!

Welcome to BiggerPockets, Michael! 

@Jung Lee, Welcome to the community!

We were lined up to have this project complete by August which would still be in the prime time frame for selling this house.TLDR of my previous post - I ran into troubles with my first flip which was going on at the same time as this project.I had to pull my contractor from this house to save the day on my first flip.

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.

Seemed legit and expecting to hear back from them today on some proposals for a project I am working on. 

California landlords can now enjoy streamlined maintenance and cost savings thanks to AB 2622.Signed into law in September 2024, AB 2622 raises the threshold for unlicensed contracting work from $500 to $1,000.