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28 April 2018 | 2 replies
How might a mortgage be structured if I qualify for the mortgage but I have family who would like to partner on the transaction by contributing the downpayment (20-25%) Can you go conventional on an investor property with this situation?
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30 April 2018 | 4 replies
Some banks have different requirements, but two that I work with structure loans as follows:Bank 1: is a local portfolio lender, requires a 6 month season period, does 15-20 year notes with 5 year variable interest, super quick turn around on refinancesBank 2: is a credit union that does commercial loans, doesn't require a seasoning period, but does require a lease to be in place, does 15-30 year notes, rates vary depending on note term, and they will allow a 10 year period before the rate changes, super slow turn around on refinancesI opt for option 1 because I don't like to be slowed down for 3-4 months waiting for a refi, but I also have a great relationship with my bank, and tell them what other lenders are doing and see how closely they can match the competition.
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23 June 2018 | 22 replies
You'll normally need close to 2% rent to ARV to comfortably cash flow in Cleveland with the BRRR method due to the property taxes (based on your 20% capex & maintenance reserves).
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29 April 2018 | 4 replies
How would selling it (by any method) help you invest better?
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2 May 2018 | 5 replies
Sometimes all you need to do is have an architect create drawings of the non-permitted structure and submit them to the city.
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28 April 2018 | 1 reply
I was hoping to have comps by now since I am using the BRRRR method so I can let them know to ask for a showing or not.
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5 May 2018 | 12 replies
@Lane Kawaoka depending what you're looking for (info, answers to questions, basic deal structure, investment opportunities, etc.), I likely can.
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29 April 2018 | 1 reply
We’re looking at a deal, the listed disclosure says there’s structural issues and after speaking to the neighbor they said that the “main support beam” was cut during a previous renovation.
6 June 2018 | 5 replies
If it won't cashflow with the higher debt structure on a refi, then you're looking at renting as is, or selling and using the profit for a new property.
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9 May 2018 | 13 replies
This is definitely a slower and cheaper route, but also not the most structured way of learning or building a truly systems dependent business in my opinion.Obviously, since I am the owner of the company my opinion is biased.