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25 January 2025 | 29 replies
@Ricky RigsbeeI got the analyzer and it does a good job assisting you with your underwriting and the different scenarios you can generate for comparison.
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31 December 2024 | 15 replies
We were trying to manage every minute of scheduling for the sub-contractors.
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7 February 2025 | 14 replies
Quote from @Brendan Jones: For the homes, and or properties that you will use as a primary or a rental property one big thing I look for is infrastructure in the area, extrinsic value (I.e. hospitals in the area, schools, and job market), and the last thing is creature comforts for people (I.e. is a store to get groceries 1 hour away or 2 minutes away).
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15 January 2025 | 6 replies
Your job is to make sure they are covering what they need to cover for the property.
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21 January 2025 | 14 replies
My wife and I both have jobs that pay over 6 figures and our monthly living expenses are only around $8K.
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14 January 2025 | 27 replies
No one checks the maintenance crew to see if the did a good job (as far as I can tell, their in house folks miss stuff).
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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16 January 2025 | 20 replies
Great macroeconomics overall - population and job growth and major companies moving here.
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10 January 2025 | 2 replies
He learned a lot about what to do himself, what jobs to hire someone for, and just how long it can take when you are by yourself.
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23 January 2025 | 15 replies
Frankly, I'm sure you do a good job in the space where you work.