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5 July 2024 | 0 replies
a good team on the ground and a strong market will help success Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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6 July 2024 | 18 replies
I tend to get more action and have more success if something is marketed at $775 instead of $800 or $1475 instead of $1500.
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6 July 2024 | 6 replies
How are you finding deals, and what strategies are proving successful for you?
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6 July 2024 | 7 replies
Also at the time i was worried about the 3.5% interest rates, so feel free to laugh at my stupidity there.
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6 July 2024 | 0 replies
I was hasty due to the higher mortgage rates, and it turned out to be a huge mistake.
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4 July 2024 | 5 replies
What I have heard is the following:1) Banks willing to extend loans with the existing owner, hoping they can hold on until NOI goes up or interest rates come down2) Banks knowing a property is coming back so reaching out to a local broker to find a buyer with a pocket listing.
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3 July 2024 | 24 replies
If you but now, and rates go down you can refinance.If you buy now and rates go up, now you have a below market interest rate.Basically, whether rates go up or down in the future, the outcome of buying at the current interest rate is almost always going to have a positive outcome.
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2 July 2024 | 4 replies
Price - $960,000Preferred Lender rate - 5%Rent per unit - $1,700-$1,800 (3 of the 4 units we had leased at close)Unit size - 3bed | 2.5 bath + garageFinancials - 25% down, 5% rate, monthly cash flow roughly $900
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5 July 2024 | 1 reply
I’m only 19 but I feel like if I can keep up this pace and keep up the motivation and I don’t get discouraged when contracts don’t work or buyers back out and just keep on pushing I’ll be successful in this.
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5 July 2024 | 3 replies
Until you have experience in partnering with others on successful projects, I highly recommend working with your partner and an attorney to structure an appropriate, legal, and viable operating agreement, be it in context of an LLC or otherwise.