Slow growth wood yields much more heartwood, which is the longest lasting part of the tree, whereas sap wood (new growth wood) will rot very quickly.

Hi all,I'm new to BP and am trying to start investing in more than SFH one-off rentals. 

My wife and I are new out of state investors and I reached out to Michael Azzam in mid-November 2022. 

Architects and builders in the area are quoting 2000 per square foot, but I am seeing new construction builds in Martis camp selling for 4 million for 4000 square feet, just wondering why I am being quoted double what other builds are being sold for.

Based on my market knowledge, 350k for a new constructions with close to 3k in rent seems like a fairly solid deal for the area.

I'm no exactly new to BP but have never introduced myself or gotten involved. 

We also replaced quite a few old ceiling lights with new ceiling fan/light combos and replaced any cracked or suspect outlets, etc.Kitchens got new stoves and microwaves and upgraded furniture in common areas.

Heres the numbers:  Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS#  $670,000.00$167,500.00$502,500.007.000% $0.00$0.00  Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77

Soo in the class I am reviewing they are teaching us to undercut deals brought by brokers, but once we refi a property and pay off our partners wouldn’t we simply become the very targets that we were after 5 years ago?

The lenders I have historically worked with have not punished my rates for new construction, cash outs, etc.