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29 May 2024 | 8 replies
If you have any questions related to lending, always feel free to reach out to me.
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29 May 2024 | 22 replies
Please feel free to directly message me if you want to discuss this more or if you have specific questions.Tim
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30 May 2024 | 5 replies
I look forward to continuing to learn from the BiggerPockets community as I navigate my real estate investing journey.I’ve had some success on the eastern shore of Maryland, though even that market has started to frankly become expensive, there are still pockets of potential growth both rent & appreciation, thoigh it’s becoming harder to find, also there is a massive rental shortage out there, a county I just put a property contract on, literally has 3 properties for rent right now, but it does make rental comps quite difficult, outside of that I’ve started looking a little more into western Md and some southern pa markets but still trying to get a feel for them, overall I think in this market places that are affordableish and have some draw will do well with the continued wfh + affordability crisis but keep in mind while I think the eastern shore is actually fairly safe market for the most part a lot of rural areas definitely have boom bust potential and in theory more risk than dc metro, though the low price points do by definition tend to mitigate some of those risks.
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29 May 2024 | 7 replies
Feel free to reach out if you have any questions.
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27 May 2024 | 4 replies
I've done tons of reading and watching videos on Youtube that give very in depth information so I do feel comfortable tackling this deal, but would love some advice as I go through the steps or just someone to come back to for next steps mentorship.
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29 May 2024 | 20 replies
I've seen a lot of our community members start out with third party, learn their systems, and then bring it in house when they own several hundred units.I would read the book Small Giants, by Bo Burlingham.
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29 May 2024 | 7 replies
Here are the details:Assumable loan balance: $750k at 2.75%List price: $950kDownpayment needed: $200k to cover the differenceMy initial plan to make this deal work included a few options:Getting a loan for the $200k difference.Bringing in a partner.Asking for seller financing.However, when I discussed these options with my agent, I hit a few roadblocks:Second Mortgage: My agent said no bank would provide a second position loan for the $200k.Seller Financing: He mentioned that 99% of sellers would reject this, though we're asking anyway.Agent's Advice: He suggested I just get a conventional loan and put 5% down for the full $950k, but I feel this defeats the purpose of leveraging the assumable loan.Given these challenges, I’m trying to figure out the best way to raise the $200k.
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30 May 2024 | 4 replies
If you ever have any specific questions feel fre to reach out I am always happy to help and talk REI!
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29 May 2024 | 10 replies
That may change at some point, but I have a feeling that will stick for a year or 2.
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27 May 2024 | 4 replies
I feel like all the calculations ( ex 4 square method analysis) and cash flow are going to be not reflective of out current situation since we will be living in one unit and renting the other two units.