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31 January 2025 | 17 replies
(Either with the roofing company, a heloc, or a personal loan.)Either way you will probably be way ahead on interest saved unless you have a sub 6% interest rate.
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30 January 2025 | 5 replies
@Kiryl Ulanovich,You're on the right track:Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.Title Search & Clear Any Issues – Ensure a clean title before closing.Close Through Title Company – Finalize funding and take ownership.Consider also lining up contractors early for a smooth transition into renovations.
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2 February 2025 | 14 replies
Our company can Offer 7.5 30yr.
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18 February 2025 | 21 replies
Regardless of whether the owner turns a profit, brokers are called up on to sell, lease and manage, lenders will finance, contractors (often affiliated with PM companies will be called upon to put out the constant fires).
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30 January 2025 | 4 replies
Have your notified your insurance agent/company that you are no longer living in the property and that it's under renovation?
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7 February 2025 | 5 replies
Honestly looking at your situation I'm not sure I would recommend you do the taxes yourself, change of accounting method (F 3115) isn't easy for someone that hadn't done them before these online software companies make things seem easier than what they are, they are good for less complex situations.
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6 January 2025 | 2 replies
I think they contain solid information and will help lay a good foundation as a beginner (Haha, I'm completely new to real estate as well, btw)I'm also going to be reading the following books, and hopefully I can finish all by the end of this month:1) The ABCs of Property Management2) The Advanced Guide to Real Estate Investing3) Long-Distance Real Estate Investing How to Buy, Rehab, and Manage Out-of-State Rental Properties (this might be the most important one to me personally)4) The Book on Investing in Real Estate with No (and Low) Money DownIn addition to reading, I'm consuming crazy amounts of youtube videos, and I'recommend you do this as well.
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13 February 2025 | 9 replies
It has to be sold prior to dissolving the company to clear the debt against it and free up cash.
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9 February 2025 | 12 replies
The credit unions in my area only work with bigger companies so just know I have already reached out.
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4 February 2025 | 2 replies
The concern with the DSCR loan is that I need to make the property present as though it's rented to individuals during appraisal (tough since it's a working rehab facility now) and must create another lease that shows the tenant as personal and not a company.