5 July 2021 | 8 replies
Very clean and tidy.If you're the one that finds the deal, negotiates the deal, coordinates inspections, and does all the work to bring this to closing, then you should pay yourself for that work (typically a percent of the purchase price).
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7 July 2021 | 8 replies
I know several HMLs who lend at 12% with 1-3 points.You might be able to get 10% if you had a long-standing relationship with a private lender but I think you'd be safe to assume 12% if you're just starting out.Yes, HMLs usually want 65-70% LTV max, so that would be 30-35% down.New HMLs will loan that on the after repair value (ARV) but smart/established/experienced ones will loan 65-70% of the purchase price and then set up a draw schedule for the rehab, usually with the borrower funding each stage and then getting reimbursed after an inspection which verifies the funds were spent on that stage of the rehab and it was completely finished.So if you bought something for 100K, the lender might loan 65K, you'd bring 35K to the table.
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5 July 2021 | 4 replies
A 1926 building has lead, asbestos, clay pipes/orangeburg, needs roof inspection, heater inspection or HVAC if has such.
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7 July 2021 | 1 reply
Came in and negotiated some of the inspection issues.
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5 July 2021 | 6 replies
That being said, as long as I am diligent with the numbers on the calculators, I get a good property inspection and find that the property is sound, and do my best to get good tenants, what else matters?
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4 July 2021 | 8 replies
You’ll still have inspection outs.
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5 July 2021 | 6 replies
Most municipalities require an inspection prior to hooking the power back up if it's been out of service for an extended period. (6 months in my experience)If you recently acquired this property or are just now getting to rehab it, it may be worth the fee to have an inspection done on it (the type you'ld have prior to purchase).
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8 July 2021 | 18 replies
I’m about to need an inspection done and want to be smart about it.
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5 July 2021 | 2 replies
Hello, I am looking for a good detail home inspector that would also cover termite inspection in Killeen TX.
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17 July 2021 | 12 replies
I just got my first property in Alabama from a turnkey company and am scheduling inspections.