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7 February 2025 | 12 replies
Basically/Hopefully that is watching rents hit your bank, and occasionally calling a repair service as needed.
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6 February 2025 | 17 replies
@Patrick Roberts @Chris Seveney - End all be all these divisions of banks and NMLS know more about me that I I know about me, lol.
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16 January 2025 | 15 replies
@Penny WilkinsonIf there are no comps, then I would try to ask community banks what they would be able to lend on it.
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6 January 2025 | 10 replies
That means, no conventional loans, bank loans, DSCR loans.
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11 January 2025 | 1 reply
They’re requesting what feels like an unreasonable amount of information, and the demands keep escalating.So far, they’ve asked for:A video tour of my home officeCredit checks on me and my partnerCopies of the deeds for every property we ownA copy of my partner’s home lease and utility billsBusiness phone billsA signed letter from the bank verifying our accountsBank statementsHonestly, it feels more like qualifying for a loan than trying to become a customer.
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20 January 2025 | 62 replies
there was a follow up post where someone got a loan from them but for realistic rates 8% or so and few points.. under 6% private / hard money simply does not exist unless its a family friends type situation. that bank rates or lower right now for new construction or fix flip
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26 January 2025 | 3 replies
While more development did happen over the last few years from development projects started in 2021 and 2022 when rates were lower and developers could outlast supply chain issues, the upcoming supply is expected to drop again, as we will discuss later on, with the relatively sharp rise in interest rates that has dried up investment capital due to the fear in the market, sellers opting to hold out on their land and or properties until cap rates and interest rates subside again as is expected in the coming years, as well as banks being cautious to lend on real estate due to this sharp rise putting many projects that were started in 2021 suffer greatly from a 7x increase in rates over the following 40 months that had adjustable rates or 5-year terms which is very common in larger multifamily investing.
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16 January 2025 | 4 replies
I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month.
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18 January 2025 | 21 replies
Do not bank on setting a new neighborhood record on $ / sqft - be conservative in your numbers.
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30 January 2025 | 62 replies
Robbing a bank to pay rent is a CRIME.