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24 November 2018 | 12 replies
. - Today, there are conventional options for 2-4 unit that are as little as 5% down without the permanency of FHA mortgage insurance.
17 August 2020 | 4 replies
Can anyone provide information on new construction to perm financing for the purpose of renting the property. I already own the land and I am not going to live at the residence. All the lenders I have contacted just ...
13 May 2022 | 35 replies
Once the property is at least sustaining itself from the short term rentals I can start building out more of the permanent infrastructure like more beautiful walking paths on the property, look-off areas and a dock, not to mention a well to make it easier to maintain and service the rentals.
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6 March 2013 | 6 replies
Wiser from our first experiences, we did a few things differently and we are now in the final stages of closing.That brings us to my current situation which provides more questions than answers.Here is what I know:Property will be Commercial – supply is low - demand is highLocated in an area with quick access to all main travel corridorsParcel is 1½+ acreProperty has a permanent easement for access through a large, well established and shared entry with a new restaurant (In operation 5 months and drawing 300% of original projections)One of three new hotels is across the street (Open approx. 6 month and booked for the foreseeable future)Property is ready for the shovelCity plans to pave frontage roadProperty has all city utilitiesProperty will be purchased using an llc (one silent partner - I am majority owner/managing member)The property will be debt free at closing**As an additional note - I am purchasing the parcel from the owner of the restaurant and have an agreement with him not to build a competing restaurant on my property.I’m sure there are many others but it seems I have four basic options:#1 – Land Lease#2 – Build to Suite#3 – Lease Purchase of some type#4 – Flip for prophet and move onWhile many would quickly say that all booms will bust (and, for the most part that would be correct) there are nearly always areas within that Boom that, for many reasons, attract and sustain the highest and longest growth patterns – This property is located within an area fitting that description.
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11 August 2012 | 11 replies
But City of LA rent control (and others) includes a host of limiting and awful things like permanent tenancy for residents unless the owner moves in, etc.
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29 September 2012 | 3 replies
Well when people contact me they might try to do a short sale.They might try to do a deed-in-liue.Might try to get a write down to current value and bring in an equity partner.Might try to get the debt service temporarily or permanently reduced to reinstate the loan.Many.many options and it will depend on size of the commercial property,what type of loan or loans is backing it,and how many partners have ownership in the property,if it is a recourse loan and on and on.I approach these when contacted by a seller in distress on a case by case basis.
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22 September 2012 | 9 replies
We also bought this property because of the adjoining parcels that we own and the potential future development opportunity we have in owning both parcels.That being said, I do believe this is a temporary rather than permanent issue and I would initially prefer to try to work something out with the tenant, rather than try to get them out.Regarding the % sales model, have you seen this work well with mom and pop tenants in a cash heavy business and self-proclaimed bookkeeping?
19 November 2017 | 2 replies
Andrew, I believe he wants to put a pin permanently on the map so he can keep record of where each sign is placed.
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10 December 2017 | 0 replies
Thoughts on removing battens in a 1998 doublewide on a permanent foundation?
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23 December 2017 | 6 replies
It's definitely in livable condition, but I'd like to make some improvements that I would probably end up paying cash for (or utilizing an equity line on my permanent residence), then refi to pull some of the money back out to hopefully use for the next property.Any suggestions or recommendations would be GREATLY appreciated!