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11 February 2025 | 11 replies
Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.
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15 February 2025 | 5 replies
Lenders typically require a resume for the GC involved in the borrower's project to assess their qualifications.When it comes to a GC getting funding for their own projects, while some lenders will take your experience as a GC or builder into consideration, most primarily look at your track record as a borrower on title when determining approval and pricing.That said, if a lender deems your experience sufficient, they may allow you to act as the primary GC on your own project instead of requiring you to hire a more experienced GC.
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8 February 2025 | 12 replies
Shouldn't be anything else that would trigger that, short of another purchase.
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17 February 2025 | 4 replies
Thank you for your time and consideration,Rachel
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4 February 2025 | 4 replies
@Ryan Rabbitt Did you end up pulling the trigger?
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2 February 2025 | 4 replies
So, transferring title to an LLC is a transfer as defined by most mortgage or deed of trust documents as a trigger of the so called due on sale clause.
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6 February 2025 | 2 replies
Another consideration is if you are not full-time, consistently, without gaps or missed hours.
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9 February 2025 | 12 replies
I keep a portfolio of photos in my arsenal - not posting all of them - but switching out a photo periodically as it can trigger your listing to move up the list when a change is made on some of the sites.
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17 February 2025 | 5 replies
They’ve likely invested a considerable amount of time and money into it.
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12 February 2025 | 3 replies
Hello Dana, For that purchase price in Brooklyn, NY, you could be looking at considerable unknown expenses at this point.If the property is occupied, you'll have to factor in attorney fees and holding costs while you wait to gain access to the property.Furthermore, you could be facing additional costs related to title issues: open permits, violations, liens, judgements, etc.