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Results (10,000+)
David Beard Private Lending for Buy & Hold
10 November 2011 | 31 replies
I was thinking generally (and hypothetically) along these lines:* Deal with folks where we have pre-existing relationships* 10yr fixed rate - pay around 7.25% fixed for 10 years (this would be set at loan origination around the 10yr tsy plus 5.0%, or possibly the 30yr avg fixed rate + 2.5-3.0%); interest only ideally, or possibly 30-year amort* Right by borrower to substitute collateral to maintain the LTV (if we want to sell a property)* 1st mtg, 75% LTV on new appraisal value* One investor per property, in 1st lien position* Property rehabbed, seasoned for at least 90 days with tenant in place with term leaseHow have you addressed lender concerns around investment safety and illiquidity?
Larry Burchett Debt to Income Ratio
11 September 2016 | 18 replies
The primer is OK for a homeowner, but doesn't address some of the most important things for actual real estate investors: how (and when) rental income and investment property mortgages are factored in, how flipping/wholesaling/other self employment income is scored.
Sharad M. Anyone using iPad to sign leases with their tenants?
8 November 2011 | 18 replies
:Mike and Joe, thanks for the replies.Joe, that's exactly my biggest concern that tenants might claim that it wasn't them.I think I might just stick to paper and pen for now.I wouldn't turn away from this idea so fast, imo. i think in this day and age, most people have email addresses and if they were to sign on the spot and were ok with an emailed copy - why not?
Jeff N. Permanent Flat Panel TV Mounts
5 November 2011 | 8 replies
Maybe when its time to replace the studs (if they ever need replacing) you could also frame in a shelf (if it would be practical given your space) so that it wouldn't need to be addressed again.
Chelsy C Another issue for my first flip
9 November 2011 | 14 replies
A good contractor may have better and/or more efficient ideas on how to do the repairs; get a couple bids.What does, "the re-inspection report indicated $4900 termite" mean?
Jerry Maguire Checklist of things prior to buying homes
1 November 2011 | 1 reply
Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates
Adam Scherr Syndication questions
2 November 2011 | 4 replies
You have addressed Adam's questions very well.
Joshua Dorkin Survey: Should we Require Avatars to Participate on BP?
2 November 2011 | 24 replies
To me it's the same as addressing a group of people in a loud room while talking in a whisper and looking down at the ground.
Yuval S. What would you do with $2 Million cash, good credit?
19 November 2011 | 27 replies
Since this is a new venture, it may be wise (as Jon points out) to spend some time getting educated on a number of different strategies, and then choosing one that makes the most sense and can be executed with optimal efficiency and results.
James Martin Pictures
6 November 2011 | 9 replies
On Windows XP or Linux and Firefox 3.6 use the Copy Image Location entry.On Windows XP and Internet Explorer 7.0 use the Properties menu item, then copy and paste the "Address: (URL" property.