Lily Ochoa
In need of 55K
13 May 2024 | 5 replies
You probably need 10% for a down payment plus closing costs which could be another $10-20k.You can put in an offer contingent on selling your own property.
Courtney Olson
Conventional loan with repairs questions for a Rental
13 May 2024 | 7 replies
As for an offer, start with your ARV and subtract out your renovation costs, financing costs, a reserve amount for contingencies, any profit margin if you plan on flipping it, closing costs for both the buy and sell sides, and soft costs for the permitting, etc.
Stuart Udis
Don't Fall For This Trap As A BRRRR Investor
14 May 2024 | 10 replies
This means building contingencies for vacancy, repairs, insurance increases.
Douglas Gratz
What is the new construction process? Dig lot, pour concrete, etc
14 May 2024 | 201 replies
I have a 15% contingency on a 1,140,000 budget we are actually at 196/sqft.
Gabriel Oquendo
How to use OPM
14 May 2024 | 14 replies
Some things I advise folks having seen partnerships go south - Get really clear not just on who does what but contingency plans.
David Ounanian
How do I conduct due diligence on a property before making a purchase?
12 May 2024 | 1 reply
Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.
Joe S.
Do not trust a video cure of a house!
12 May 2024 | 21 replies
You should always be contingent upon a 7-10 day inspection period.
Michael Goodman
Help Check My Underwriting Duplex
12 May 2024 | 6 replies
During or before inspection contingency, it'll be beneficial to ask for the current tenant's information.
Stuart Udis
Investing in Multi-Family Syndications With An Out Of State Sponsors
12 May 2024 | 2 replies
*I understand terms such as deposit amount, contingencies and settlement period can play into the decision making of the Seller, but a syndicator who is relying on outside equity is likely performing full diligence and is not shortening their contract period materially from others in pursuit of the deal.
Yash Tamta
Cashflow ready houses. Too good to be true?
13 May 2024 | 19 replies
Louis properties with boarded-up windows and listings asking for cash offers with no contingencies.