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17 January 2016 | 7 replies
I'm beginning to believe this was naive, but I was hoping to turn real estate investments into my single source of income.
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17 June 2016 | 17 replies
Thanks for all of the feedback, a couple of people have asked for more details so I will provide them below, I've also put out some calls to local banks and mortgage brokers and as soon as I'm done compiling the responses I'll post so others in a similar situation can see the results.I have two properties with which to leverage but the challenge I'm finding out is that since they are both sub 100k properties the banks do not like to lend funds on properties in the sub 100k market, the mortgage broker is currently sourcing rates for banks willing to lend on properties sub 100k.
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11 April 2017 | 4 replies
It may vary depending on the source of capital and the deal itself.
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3 September 2019 | 8 replies
That's a nice "feature", and transfers more risk to the lender.
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4 January 2016 | 7 replies
Like most members, I'm here to source knowledge and build wealth through REI.
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20 November 2015 | 0 replies
1.We have a buyer2.The buyer wants to buy 1,000 barrels/day in existing production3.Purchase price is $30M4.Our bank will lend 67% or $20M5.We have a Mezz funding source who will deposit the balance of the purchase price of $10M directly into our lending bank6.The Mezz wants to get paid off in 12 months with a 30% profit, so he wants $13M in 12 months7.The whole key to this deal is that the Mezz needs a Forward Takeout Commitment from a legitimate bank or life insurance company for the $13MFour questions, please:1)Can you provide a Forward Takeout Commitment for this situation2)I understand from the information that Gordon sent me that this type of letter costs 1 – 2 points and that is fine3)Will your takeout commitment provider charge anything to underwrite this deal and let us know if they are willing to issue a takeout commitment4)We are working on oil production deals in both the continental USA as well as Canada – are both locations acceptable to your takeout commitment providerI am really hopeful that the answer to 3) is no, because if it is, then we will put a solid production deal in front of you.Let me know – many thanksps.We are also developing several SFR /Modular Dev in Austin TX. (2016).
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22 November 2015 | 6 replies
Real estate schools can give that type of training, there are other sources too.
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22 November 2015 | 13 replies
Other than the MLS does anyone have a good source to find this info?
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24 November 2015 | 5 replies
BP is hands down the best source to learn and grow in REI.
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21 November 2015 | 3 replies
This is one of my favorite features of Bigger Pockets especially for asking specific questions.