Terry Fox
Sharing latest Cape Coral experience finding a new tenant
12 April 2021 | 1 reply
They have to rent in the interim as there is an extended waiting period before their new house was ready due to demand and supply constraints.In the end I wish I had 10 more houses to rent, but those currently on the market are priced so high, $1,695/month generally won't cash flow.
Christopher Campbell
A San Antonio Story - My Investor's Newly Rehabbed Home
14 April 2021 | 1 reply
What do you think of fix/flippers working to extend their hold times out a little longer to take advantage of this recent spike in valuations and drastic drop in DOMs?
Steven Laurino
Cost of basic Homeowners Insurance on a 4-plex upstate NY?
21 April 2021 | 2 replies
Full replacement vs cash value, basic coverage vs extended coverage, etc.
Michael Faudoa
Things to know when buying a duplex?
12 April 2021 | 3 replies
Don't over-extend yourself, and look forward to the future when the rewards will start to snowball!
Sean Dezoysa
Unloading payment handling from PMs
14 April 2021 | 3 replies
Or should they be extending credit to you and wait for you to reimburse them for the expenses they incur on your behalf, since the income isn’t first flowing through them?
Eric Shiva
Market is so hot!! Dont have 100k cash
16 April 2021 | 14 replies
Also deals that have been on the market for an extended period of time.
Tanya Rhodes
Need a good contractor in Eugene.
20 April 2021 | 5 replies
Changing up the bathrooms - adding a wall, moving a water heater to create a bath shower combo, removing a tub to create a walk in shower, moving a toilet over, dividing a bedroom and extending a wall, creating a bedroom etc.
Justin Goodin
Lumber Prices are Up! 📈 How is this affecting your business?
10 October 2021 | 7 replies
Another contractor told me it has been extending his build time 2 plus months.
James Moore
Brrrr: Should I have cash on hand for lender?
16 April 2021 | 2 replies
Are they willing to extend the payment period or work out another payment plan.2.
Jenna Barnes
Would using hard money/private money be a good first deal?
17 April 2021 | 15 replies
Deal:ARV of $143KPurchase of $75KRepairs are $25KTotal capital is $100K (70% of ARV remember)Turn around is 4 months Draws 8 This is what the Hard money lender terms would look like;LTC (loan to capital) 80%Term 6 monthsInterest 12%Points 2%Misc fees $1500(add ext fees if extending if not ideal stuff happens for an example ) 2 points for 6 month extensionInspection fees of $175 each (remember an ‘inspection’ for each draw to make sure you’re doing the work they think you’re doing with hither money)Now if this flip takes 4 months, here are the total carrying costs;Total loan amount cost $100K (.8 how much lent ) = $80K The two points at 1% = $80K x .2 (for two points) = $1600Interest so the amount lent of $80K x .12 (12% interest) = $9600 in interest (the total ANNUAL interest) so to carry that for a total of four months would be $9600/12 = $800 in the deal for 4 months = $3200 in interest payments Inspection fees cost (remember 8 @$175 each for each ‘draw’) = $1400Now if you didn’t exit the deal in 4 months and added the extension of 6 months you’re adding in the points for the extension (avg of 2 points per 6 months) So points $1600Misc $1500Interest $3200Inspect