8 September 2021 | 12 replies
We switched from conventional loans to DSCR mortgages, where the lender looks at the property and its production of rental income.
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9 September 2021 | 3 replies
They tend to be able to offer "portfolio" products where they actually service the loan themselves, and they can usually be more creative if need be.
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16 September 2021 | 8 replies
I have also looked into borrowing for a down payment whether its from a personal loan, hard money lender, family, credit card cash advances, etc.Are there any recommended tips, products, BP webinars/podcasts that address this kind of situation?
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8 September 2021 | 2 replies
Did not do the program as I'm not an agent but I can vouch for Jenifer's character and I know she stands behind her product!
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8 September 2021 | 0 replies
Single-family home sales rebounded from July’s declines with an 8.5 percent increase, as 9,890 units sold versus 9,118 in August 2020.
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10 September 2021 | 3 replies
David Greene covered the topic on one of the latest podcasts as well confirming that 6 months is a traditional answer for a lot of lenders, but isn't a hard and fast rule, therefore I need to continue to search.Your 75% comment is interesting because many of the HML websites I have been on are all marketing their products around a % of purchase price plus rehab, not starting at 75% of ARV which might (ideally will) cover the entire purchase price.
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25 September 2021 | 6 replies
Our employees love it because it allows them the freedom to take mental health days, personal development/fun days, and/or be present at important events in their kids/familys life.It's interesting to watch how much more productive people are when the constraints of M-F, 9-5, 50 weeks/yr are loosened up a bit.
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18 September 2021 | 8 replies
In my opinion (in the Chicagoland suburbs) any SFH below $250K is a very very hot product and this type of photography isn't necessary to bring buyers to your flip.
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16 September 2021 | 10 replies
That is the plan anyway but that is still at least 6 months before it will be ready for production.
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12 September 2021 | 15 replies
Getting all of your money back out on this market is not realistic, at least in our market.You should expect to leave 5-20% in the deal.However… you end up with less than 25% down, a fully refurbished unit, and a top of the line product for tenants.This strategy allows you to control your two most variable cost, maintenance, and CapEx.Personally my focus on a BRRR is beat the down payment market by 5-15% and have a fully updated unit I won’t have any work to do on for 5-7 years.All the people that want to turn 40K over and over and over and finance rehabs are going to spend a lot of time looking and not a lot of time doing.