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21 January 2025 | 5 replies
Third, if they have $2bn of agreements (whatever that even means) why haven't they actually started building anything or even closed on the land.
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24 January 2025 | 10 replies
Most people don't know how to use a wood burning fireplace correctly - operating the damper, not closing the damper until the fire is completely out, going to sleep with the fire or coals still burning.
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27 January 2025 | 56 replies
Been following the legislation closely.
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6 February 2025 | 9 replies
The bank I work at would require the property to be close by.
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11 February 2025 | 13 replies
A deal that’s “close” but not quite right can still cost you big.
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10 February 2025 | 1 reply
This week, two critical economic reports—the CPI inflation report (Tuesday, February 13) and Initial Jobless Claims (Thursday, February 15)—will provide new insights into whether the Fed will stay on its current path or begin signaling rate cuts.Real estate investors looking to finance new deals, refinance existing loans, or time their next acquisition should closely monitor how these reports shape market expectations for the Fed’s next move.Current Market ConditionsMortgage rates have remained stubbornly high due to persistent inflation and a strong labor market.
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28 January 2025 | 10 replies
Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up.
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21 January 2025 | 20 replies
Subtract the flat fee buyer agency fee of $6000, meaning the buyer is credited $6,500 at closing.
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22 January 2025 | 1 reply
If you're using traditional financing on your primary residence, they're going to do another credit check on you just before closing.
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17 January 2025 | 7 replies
I was looking to put 80k cash into then refi afterwards and possibly getting 130k. 130k on mortgage would be close to $800 only leaving $200 in cash flow each month.