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24 May 2024 | 259 replies
., DSCR, fix and flips, bridge loans).
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24 May 2024 | 100 replies
MTR can often bridge the gap for you between higher rents and city regulations on STR.Also keep in mind you'll probably get very few answers that say they lost their shirt and pants buying the wrong STR.
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18 May 2024 | 4 replies
Instead, they typically employ a sales comparison approach to determine the property's worth, using the income to calculate the DSCR, which usually needs to exceed 1.0 for most lenders.Assuming you have a solid track record with the property and there's enough equity in the deal, leveraging the After Repair Value (ARV) on a sales comparison evaluation could enable you to refinance into a bridge loan until the necessary work is completed.Maybe a mortgage broker specializing in traditional loans could offer insights into construction-to-permanent loans
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18 May 2024 | 11 replies
Would hate for you to get to the same situation as we did where we paid hundreds for appraisal, let our bridge loan tick away for weeks leading up to refinance, and only find out this info at the end of the process where we get our rates switched on us.
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19 May 2024 | 21 replies
Few coaching programs were advocating aggressive Bridge debut over the last 2-3 years, and these are the ones that their members are now struggling with maturing debt.
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17 May 2024 | 2 replies
Basically, 24 different properties spread across 3 Florida counties will need to close all at once during one closing.My thought is to do a quasi-double close/bridge loan where I bring in a partner to fund the deal (about $5 million), and then have separate closings as quickly as possible after the fact in which we sell the other properties we don't want.
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18 May 2024 | 14 replies
Hey Christian, most flippers fund their flips using hard money bridge loans.
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18 May 2024 | 18 replies
We do NOT have a loan minimum on bridge/fix and flip.
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16 May 2024 | 6 replies
Perhaps if the note was newly originated a one-year option might make sense.In essence, the option could serve as a bridge while the note seasons.I agree with your thoughts on introducing a lot of complexity -- hashing out all the details might only make sense for a very high-dollar note.
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15 May 2024 | 20 replies
For a construction(or bridge) loan, most lenders would want 2-3 projects(buy, rehab, hold/sell, construction) experience usually in the last 3 years minimum.