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21 May 2018 | 2 replies
After Repair Value /Comps - Provide comparable sales data that confirms your After Repair ValueRepairs - Provide a detailed estimate/scope of work of the repairs that you are planning for the project.Loan Terms - Provide the financing terms (interest rate, points, holding period) you have budgeted to pay the lenderHolding Period - # of months it will take to rehab & resell the propertyOther Costs - Provide a breakdown of other costs (buying, holding, selling & financing costs) Profit Margin - Highlight the total profit & profit % you have built in the deal.
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21 May 2018 | 0 replies
Hi everyone, I found a lender in Canada that will lend up to 75% total construction cost including land.
22 May 2018 | 5 replies
Hello Everyone, I'm about to turn 35, single/not married, no kids, and am currently living in my basement and renting the rest of the house out (which I am totally content with ..have no desire to live in a big empty house alone).
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12 September 2018 | 17 replies
Has scope to work....we'll see.I am totally new to all of this, so trying to learn as much as possible.
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21 May 2018 | 2 replies
(May be able to do over time)Currently renting below market for total income of $4,850 (month to month)Based on my knowledge of the area, and running comps, "Market" rate would rent these for a total of: $7,800I am running my income projection at about 80% of that: $6,350 (to be conservative) once running and maintenance is cleared.Expenses will depend on if I choose an equity partner or do hard money and refinance with a commercial loan.
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18 February 2019 | 3 replies
Should I askethe county to lower it to $700k or will they just go with what the bank put as the total loan amount?
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21 May 2018 | 2 replies
There was a fire one one half of the property, and the water damage extensively damaged the whole thing- total loss by my insurance companies standards.
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22 May 2018 | 6 replies
The minimum is probably in place for porperties with very low rents.Dont get hooked up on it, if you are going to buy a building with 8 units your total rent is going to be around $4000 per month, the pm will get $400 per month on this property. so its not like they are saking $75 per door, its $75 per property. you need to negotiate with them, im also paying 10% per month but there is no other fees or minimum.
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22 May 2018 | 4 replies
Properties in Wellesley and Weston are roaring high in the past decade and sometimes makes more returns than a multi-family, and it is easier to keep its value when there is financial down-turning.I understand that it is totally a personal choice based on the financial situation of a family, personal preference, and personal understanding and sense of risks/benefits with regarding to such choices.