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9 January 2025 | 9 replies
Simple answer - yes you can alter your funding source after putting it under agreement if you chose to use a hard money lender instead - i would just communicate with seller that hey I was going to use cash (assuming you have it from your heloc) and instead will finance some of it but let them know its not contingent on financing.
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8 January 2025 | 9 replies
I’ve seen many investor clients use 1031 exchanges effectively.. just be sure to get specialized tax advice.
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4 January 2025 | 2 replies
What are the most effective ways to exit an investment?
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3 January 2025 | 0 replies
I would love to hear about your strategies of which you all used to effectively scale.
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31 December 2024 | 8 replies
So, communication and assignment issues, as well as not being able to explain the maintenance issues and the required work.3) Proper documentation and quality of work issues.
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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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3 January 2025 | 26 replies
Here is the source for the commission rate, right from the Sitzler NAR lawsuit judgement (bold text added):"In addition to training, Plaintiffs have presented expert testimony showing that Section 2-G-1 had the effect of stabilizing commission rates.
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1 January 2025 | 14 replies
As you progress, maintaining a clear line of communication with your team, especially your property manager, will allow you to stay ahead of maintenance issues and tenant needs, keeping your operations smooth and your tenants happy.If you haven't done so already, consider outlining your goals and investment criteria with a property manager early on.
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4 January 2025 | 4 replies
There’s normally action items that can be implemented into your management process that are more effective.
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12 January 2025 | 54 replies
And, capitalism works to lower housing prices when this process is allowed to go into effect.