20 February 2024 | 2 replies
For that reason, our cold outreach campaigns target only individually owned properties.
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20 February 2024 | 10 replies
If I remember correctly the non-profit would initiate a master lease with you and then work to sublet/place the individuals there.
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20 February 2024 | 8 replies
I have experience with managing budgets, schedules, design selection coordination, writing change orders, creating scopes of work, and most importantly, managing subcontractor relationships.
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20 February 2024 | 4 replies
This person would essentially be instrumental in putting the entire deal together.Given the significant role this individual would play, I'm curious about how their involvement is typically reflected in the closing documents, if at all.
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20 February 2024 | 10 replies
I create a scope of work and then for each line item I make my own estimate.
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20 February 2024 | 4 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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20 February 2024 | 9 replies
The IRS, in a now discontinued Publication 535, used to say:If you are an individual and your attempt to go into business is not successful, the expenses you had in trying to establish yourself in business fall into two categories.The costs you had before making a decision to acquire or begin a specific business.
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21 February 2024 | 32 replies
All of these sub-markets are different, your general strategy can be similar but you have to create specific game plans for each market.
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20 February 2024 | 5 replies
For individual properties, I like Navy Federal due to the long draw period of 20 years and a long repayment period of 20 years.
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21 February 2024 | 8 replies
I even created my first LLC to start the fix and flip business, funding it with enough skin in the game, elsewhere hoping to use OPM rather than my own capital to fund these projects as it has been difficult finding a lender who is comfortable with loaning to me solely without an LLC.My goal has always been to match my W2 income and eventually double it and more so I can work as a hobby rather than relying on it to live.