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5 February 2025 | 3 replies
I agree with William that the rate you have is probably better than you'd be able to get moving into another property with rates where they are today.
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5 February 2025 | 4 replies
Definitely something to clarify upfront...If you’re replacing with another restaurant, it should be an easier transition since the setup is already in place.Your biggest risk is vacancy $450K/year is solid, but if you ever need a new tenant, ensuring the lease rate is sustainable is key!
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23 January 2025 | 9 replies
If it was due to a natural disaster they cannot raise your rates.
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1 February 2025 | 19 replies
Don't look for lowest rate, look for lowest cost on fees as you will either refinance out of that loan or sell- the prepay will hit you on the back of the head like a cinderblock wall.
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5 February 2025 | 0 replies
Rates were still extremely low, which made both properties extremely lucrative with cash flow.
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5 February 2025 | 15 replies
Ask for a 70k payment and give them an interest rate that is 1 point higher than yours.
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24 January 2025 | 3 replies
To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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5 February 2025 | 1 reply
Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too.
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24 January 2025 | 4 replies
Depending on how it is done and what guarantees the government offers and requires of the released entities, interest rates could move slightly higher.
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21 January 2025 | 14 replies
The tax paid from your lending proceeds should be the equivalent of your tax rate I would think.