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5 January 2025 | 24 replies
The difference between this attempt and the two previous attempts that failed badly is the large amount of money the aids foundation is spending.
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16 January 2025 | 5 replies
We're also starting to scour other forums for possible investments outside the traditional MLS sites, and other areas like upstate NY.
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15 January 2025 | 13 replies
For example, if I purchase a site entitled to 100 dwelling units under a newly formed holding company and the only thing linking me to it is a shared PO box mailing address on the holding entity, the lender gets alerted.
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15 January 2025 | 7 replies
Unless you negotiate a new contract or addendum with your PMC, they do NOT have to abide by any requests/demands you make that contradict what's written in the management contract.If they have in fact NOT followed the terms of their contract, then you'll want to send them something in writing pointing out the specific language in their contract that they violated and ask what they plan to do about it.If they fail to correct or address the issues, then you'll want to start looking for a new PMC.
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14 January 2025 | 2 replies
(https://www.mynd.co)One of my co-workers at my last job (pre-covid times) used to work\invest with them, so I had probably registered on their site back then.
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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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3 February 2025 | 37 replies
Hated it so much, that they gave me variances that nobody had gotten in 20yrs in the area to knock it down and redevelop the site.
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13 January 2025 | 1 reply
I'm new here to the BiggerPockets site.
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15 January 2025 | 12 replies
We have a site through our PMS (Streamline/BizCor) that facilitates the bookings through a site.
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15 January 2025 | 5 replies
This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years.