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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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4 January 2025 | 4 replies
There’s normally action items that can be implemented into your management process that are more effective.
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19 January 2025 | 46 replies
I haven't seen any statistics to this effect and I don't think any has necessarily been compiled but I bet I wouldn't exaggerate if I state that 95% of the value of real estate in Southern Spain or at least the province of Andalucia is in the Costa del Sol.
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6 January 2025 | 4 replies
By recognizing the signs and implementing effective preventative measures, landlords and property managers can protect themselves from potential scams.
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12 January 2025 | 54 replies
And, capitalism works to lower housing prices when this process is allowed to go into effect.
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3 January 2025 | 2 replies
This coming year set the goal of getting more committed to learn and expand my knowledge to avoid previous mistakes taken as well as to be able to effectively continue to expand my portfolio.I’m here to connect with others who are also passionate about real estate, and I’m eager to learn from your experiences, insights, and advice.
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13 January 2025 | 8 replies
POHs inherently contribute to elevated expense ratios due to their operational demands, and this effect is magnified when the number of homes is limited, as fixed costs are distributed across fewer units.
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4 January 2025 | 4 replies
But, for instance, I sent them a notice of rent increase effective February 1 and needed them to confirm that they have accepted the new payment terms through our electronic payment system, and even after repeated notices, they are not responding.
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5 January 2025 | 9 replies
It's heavily dependent on the types of properties and the effectiveness your processes and systems.If you don't have systems and processes in place, you may struggle to manage 30 on your own.
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3 January 2025 | 3 replies
2.What are the best and most cost-effective solutions for managing this potential long-term issue?