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16 May 2024 | 158 replies
My situation is relatively simple relative to others, and I'm hoping to find legal methods to improve my tax burden.
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15 May 2024 | 2 replies
No conventional lender (that I've found) will be able to fit all this criteria, because it's very unique.Occupancy: Currently rented on a short-term basis (airbnb), however, in the process of securing long term tenants.Gross rent (for 1 tiny house): $14,400 annually ($1200 monthly)NOI (for 1 tiny house): $9,600 annually ($800 monthly)Expected Gross rent (for 2 tiny houses): $26,400 annually ($2200 monthly)Expected NOI (for 2 tiny houses): $18,000 annually ($1,500 monthly)Value of portfolio financed at 8% cap rate: $225,000Loan terms sought: 70-80% LTV loan size ($157k - $180k), 20+ year termAnticipated or actual appraisal issues: This is where one of the main problems lies.
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15 May 2024 | 3 replies
Hey guys i need you help here and i need some of your experience pls...I'm on contract of my first brrrr with hard money loanAnd i want to know thatcif i change the roof now and fixing the crowl space That will cost me to do both of the things around 20k I running the numbers and i can get the arv that i need buy my question when the aprizel coming after we finish to renovation the house with this to major fixing issues that he coulcaite with this 2 major fixing to his numbers for the arv or not ?
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15 May 2024 | 5 replies
I can pre-authorize an amount and if the expense is below that, the vendor can do the repairs without talking to me live4) Urgent maintenance issues - say a pipe breaks, or tenant is locked out.
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15 May 2024 | 48 replies
Just remember that on investment purchase (conventional) you wont be able to receive gifts to close the purchase so if you're going to buy and you want to bring in friends/family into the deal as a giftor, you'll need to be buying as primary most likely (allows gifts).Also primary residences allow higher LTV's or lower down payments (same difference) 3-5% down versus 20-25% with non owner / investment occupancies.This is to tackle the down payment issue you're experience above.
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15 May 2024 | 0 replies
I am not sure if this is the right place or not but I wanted some input into any obvious issues with my lease option offers to the tenant buyer that earns plenty of income but doesn't have the cash right now and wants to improve credit before purchasing but would like to lock in the price as our market is still struggling with inventory.
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16 May 2024 | 19 replies
I would more so worry about fixing the actual issue than dealing with the emotional aspect of it.
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15 May 2024 | 35 replies
And we had an investor who sent a piece of mail asking to buy land from us, which we said “yes, we were about to work with a realtor in about 2 weeks, but if you could get things done faster for us, we’d love to work with you if you could take care of all the issues that come with the house”.
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15 May 2024 | 5 replies
I called the agent and it sounds as if the issue was really with the front porch allowing water under it and causing water to leak into the basement.
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16 May 2024 | 8 replies
The things that really matter are first are you ready, no life events, no job changes, no issues taking your attention.