19 December 2024 | 5 replies
The Pacific Northwest is competitive, so leveraging those connections can be a game-changer.Second, when analyzing deals, ensure you’re building a framework to assess not just the property’s performance today but its future potential.
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13 December 2024 | 5 replies
Since the loan isn't directly tied to the property, I want to ensure I am shielded from that risk.
16 December 2024 | 20 replies
Here is a guide for our water company that walks you through it: https://www.portland.gov/water/water-efficiency-programs/fin...I'm guessing it would be pretty similar for you, and if you determine that there is a leak by looking at the meter, then you may want to hire the leak detection company.As someone else pointed out, maybe just ask your tenants as well if any toilets are running or "ghost flushing" or if they have noticed any drips.Good luck!
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13 December 2024 | 2 replies
Assumption by an EntityUnfortunately, assuming a VA loan directly through a legal entity (such as an LLC, corporation, or trust) is typically not allowed because:Primary Residence Requirement: VA loans are designed for owner-occupied properties, meaning the assuming borrower must intend to live in the property as their primary residence.Credit Review: The VA and lender require the assuming party to undergo a personal credit and income review to ensure repayment ability, which entities cannot satisfy.3.
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7 December 2024 | 6 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.
13 December 2024 | 15 replies
Ensure the property appraises at its updated post-renovation value to maximize the equity you can pull out.A refinance isn’t a taxable event, but transferring ownership to your LLC may affect depreciation or future capital gains.
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11 December 2024 | 1 reply
We need to ensure that residents are not negatively impacted when selling properties.
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13 December 2024 | 4 replies
As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.
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17 December 2024 | 86 replies
I would say I have the experience, market knowledge and team to do this efficiently.
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18 December 2024 | 5 replies
@Shaheen AhmedInvesting in real estate with all cash ensures you receive cash flow.