Josh Holley
Seller won’t return EM
31 December 2024 | 97 replies
Here in TN brokerages regularly hold EM deposits; I have a dedicated account for such deposits myself, by law, even though I don't actively broker RE but just maintain my brokerage for the PM side of things.
Michael Baum
Mike's Deal of the Day - Black Friday Deals - Part 2!
1 December 2024 | 8 replies
I use S&S regularly so I get the full 15% off the shipment so the price was $3.49 for me.$69.99 - Nellie's Laundry Soda - https://www.costco.com/nellies-laundry-soda-800-loads.produc...Ok, so you are asking "Mike, why would I buy my great grandma's laundry soda?!"
Tyler Gilpin
Can I section 8 trailers?
26 November 2024 | 4 replies
It works almost identical to a car loan.
Nina Ning
An applicant with credit score of 770 but no proof of past rent payments
27 November 2024 | 8 replies
I suspect they are using someone else's identity or hiding something negative from their landlord.It is not uncommon for people to have good credit but still have an eviction or other problems with a previous landlord.
Fakaradin Floyd
Advice on my STR pitch and overall Rental Arbitrage advice (Alexandria VA)
30 December 2024 | 89 replies
The only reason a property owner would agree to rental arbitrage is if they see it as advantageous to them over taking a regular tenant.
Kevin Rodriguez
Starting My STR Journey
6 December 2024 | 25 replies
For example, when most of my development clients started building their portfolios, they picked up properties in areas where at least 1 of 3 things was almost always present: 1) They currently or have previously lived in the area, 2) they have family or friends that attend religious services in the area, or 3) they regularly visit family or friends that live in the area.
Roger Mace
How to Know if You Have a Good Private Money Broker
30 November 2024 | 0 replies
A good broker remains transparent throughout the process, providing regular updates on loan applications, lender responses, and any emerging challenges.
Joseph Romano
NYC Foreclosure Auctions
27 November 2024 | 13 replies
I've regularly attended the auction in Brooklyn, but never bidded on anything.
James Kerson
Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents
10 December 2024 | 100 replies
I thought with using a regular agent I would be able to get a higher price for my house, but I did not, so really the only major difference was the staging and I don't think that really helped.
Sam Lewis
Why would hard money lenders trust someone they don't know?
2 December 2024 | 10 replies
Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.