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10 January 2025 | 3 replies
Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes.
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26 January 2025 | 33 replies
Again I am not advocating for this company and each person needs to do their own DD, all I am saying is I appreciated someone seeing something, calling me on it and having a conversation about it. if @Cheryl Abram lost 100% of her investment then these must not be first position loans.. as even if a rehab fix and flip fails you still have SOME value in the assset its not nothing.
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15 January 2025 | 14 replies
Jaron Walling said something that caught my attention, "search for and buy a bad roof, leverage it during the negotiation"....especially of the property has been sitting on the market longer than normal for the current market, a "bad roof" might be a gift from the real estate genie.My point is this: get good at estimating and fixing a bad roof (or any particular problem found with most houses that sit on the market longer) and you'll get comfortable buying/fixing properties that scare off other buyers.
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14 January 2025 | 5 replies
Stairs are the only way to get in, no grab rails in the bathroom, ramps that are too steep, etc.From what I've read, all commercial businesses/buildings (including ones before the ADA was passed) have to comply with the rules, unless it would be outrageously tough to fix (like installing an elevator in an already built building).Are all these local business just not complying and taking the risk, or am I missing something?
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18 January 2025 | 18 replies
-Paying all the taxes, maintenance and insurance-Finding a renter-Worrying and wondering each month if the tenant will pay on time-Fixes/repairs-Other?
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9 February 2025 | 36 replies
If the deal is residential 1-4 units, I'd aim for 30-year fixed-rate debt.
12 January 2025 | 10 replies
Many real estate investors opt for a fix-and-flip loan because they’re relatively easy to obtain: no personal income verification (no DTI requirements), and you can often borrow up to 90% of the purchase price and 100% of the rehab costs.
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25 January 2025 | 14 replies
@Emily Gowen, The 45 day timelines are fixed and rigid.
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15 January 2025 | 4 replies
Kiavi (formerly Lending Home) was one of the first lenders for Fix-n-Flip,but they are very automated.
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21 January 2025 | 13 replies
Many fail because of the real estate as the section 8 program is nothing more than a band-aid fix that's rarely sustainable.