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17 November 2018 | 7 replies
Typically, with 2 years of income, you can qualify for lending.
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16 November 2018 | 3 replies
When an investor is looking at being cash flow positive, they are typically putting down 20-25%.
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14 November 2018 | 3 replies
Question is, is there companies or individuals that typically looks for partnerships for BRRRR deals?
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16 November 2018 | 56 replies
I will look at other stores for range pricing, but Best Buy was good for now since I could easily filter options based on the features of my current range to get pricing comparable with what I already own.Appliance details in case it's helpful:Frigidaire stainless steel electric glasstop rangePurchased in 2007Other than a loose oven handle I was notified about today, the range was fully functional prior to being informed of the cracked glass top.Thanks in advance!
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14 November 2018 | 6 replies
All it typically takes though is that 3 day pay or quit as @Allan Smith suggested to let the tenants know that the new owner isn't a push over.
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15 November 2018 | 4 replies
What are typical lending terms for smaller MF investments (<20 units) upon purchase.
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17 November 2018 | 55 replies
Yeah, speculating on only the current cash flow vs the bigger pockets future picture is pretty typical BP TK model perhaps.
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14 November 2018 | 3 replies
@Abner Gomez if you pay off credit cards that is typically 18-25% with no risk.
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14 November 2018 | 1 reply
(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.
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15 November 2018 | 17 replies
Is this something you typically write up on your own?