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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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6 January 2025 | 1 reply
Consider cash-for-keys.
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28 December 2024 | 8 replies
The samgsung seems to have problems with the ice maker and circuit board in general.
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4 January 2025 | 3 replies
An extremely detailed scope of work along with an extremely detailed contract, are the keys to a project that is going to finish on schedule and on budget, without surprises.
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8 January 2025 | 29 replies
Dig deep for online reviews, Better Business Bureau and their State Real Estate Board, etc.- Do be open-minded though as we have many of the above from tenants who claim we illegally evicted them (so, somehow we got a signed Write illegally?)
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6 January 2025 | 5 replies
as is prop value 75k and minimum loan size of 50k. as long as its turn key 30 year fixed is available. yes there are some fees and rate will be a touch higher. if it cash flows get it closed.
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14 January 2025 | 18 replies
Another key benefit is diversification; an SDIRA allows you to include real estate in your portfolio, reducing risk by spreading your investments across different asset types, which isn’t possible with a standard IRA.Moreover, assets in an SDIRA often enjoy protection from creditors, adding a layer of security to your investments.
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11 February 2025 | 167 replies
It only takes one rogue employee to run off with private keys.
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2 January 2025 | 8 replies
And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?