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19 February 2025 | 26 replies
Maybe look into a down payment assistance program for a first time homebuyer and house hack.
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24 January 2025 | 42 replies
Investor pays $2K program fee and 25% of the note acquisition price (they finance the remaining 75% via a participation agreement - at 12%).
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18 February 2025 | 21 replies
NOTE: we charge extra for this.4) What about a floor plan, so prospective tenants can get an idea where their furniture may fit?
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23 January 2025 | 8 replies
Converting properties to multi-family is considered extensive rehab and those programs are a little more exclusive than the standard bridge loan programs.
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29 January 2025 | 6 replies
I have found ChatGPT to be particularly useful for testing new Book Covers for BiggerPockets, such as our foray into the personal fitness category with upcoming title "Sweat for Life":
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24 January 2025 | 17 replies
Most on-market deals will likely not fit your investment criteria unless you allocate a substantial downpayment, often at least 30%-35%, or negotiate a price reduction that fits your requirements.Furthermore, while this is not the case for all metro ATL markets, my team and I typically see that a solid portion of the small multifamily space is comprised/orientated in neighborhoods of other small multifamily properties.
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18 January 2025 | 19 replies
One size does not fit all and I wouldn't take much stock in any advice stating that housing assistance tenants are better or worse as a whole.
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29 January 2025 | 5 replies
Use your evenings and weekends for follow-ups and networking.Sending text messages could fit into your schedule too!
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10 February 2025 | 6 replies
Also, you can possibly take equity out of your current properties instead of taking out a construction/hard money loans.Purchase and Rehab Financing:If you are doing simple purchase and rehab (not ground up), then it's not that hard to qualify and you just need to right broker/program.
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28 January 2025 | 3 replies
Key Factors for a Good Seller-Financed DealCash Flow: Rental income should exceed monthly payments (PITI) by at least 1.25–1.5x.Purchase Price: Compare to ARV and market value for fair pricing and equity potential.Interest Rate: Aim for competitive rates; higher rates must still allow positive cash flow.Amortization/Balloon Terms: Favor longer amortization and align balloon payments with your exit strategy.Down Payment: Lower upfront costs reduce risk but should meet the seller's expectations.Flexibility: Seek no prepayment penalties and fair late-payment clauses.Property Condition: Ensure the property’s condition matches terms through inspections.Seller Motivation: Assess the seller’s willingness to negotiate favorable terms.Exit Strategy: Have a clear plan for refinancing or payoff at term end.Portfolio Fit: Ensure the deal aligns with your financial goals and risk tolerance.Vetting multiple deals and consulting professionals is crucial to making sound decisions.