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20 February 2024 | 16 replies
With that, we became the American Association of Private Lenders—and we began spreading the word.Finally, Some DefinitionsUnderpinning the concept of minimizing the use of “hard money” in our industry is a recurring theme of standardization—that the root of the issue is too many interpretations of what the same terms mean.We offer up the following definitions for discussion, debate, fine-tuning, and eventual consensus [last updated 5/9/2022]:Private lender: Any non-depository individual or entity that primarily originates business-purpose loans secured by hard assets, generally real estate.Hard money lender: A subset of private lender where creditworthiness is determined solely by the securing real estate collateral.Correspondent lender: A subset of private lender where the closed loan is sold to investors.Portfolio lender: A subset of private lender where the closed loan remains in the lender’s portfolio.Fund manager: A subset of private lender where, depending on the fund structure, the deployed capital is sourced by offering exempted securities to accredited and occasionally non-accredited private investors.Private investor: An individual or entity that seeks a return by deploying capital through a private lender or fund; the investor may or may not be named on the loan’s promissory note.Private money broker: Any individual or entity that acts as an intermediary between a borrower and a private lender without directly originating the loan.
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18 February 2024 | 11 replies
Unfortunately the great rates felt like they would last forever and the inventory was about a third of what we currently have.
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18 February 2024 | 4 replies
I just finished up my first fix & flip and sold it last year.
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17 February 2024 | 3 replies
I'm interested in connecting with someone who has done a subject-to deal in South East Idaho in the last couple years.I'm under contract to buy a house where the sellers were pretty "motivated" to sell.
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17 February 2024 | 7 replies
What areas have you found in the last 2 years that are having an explosion of rents do to growth and lack of supply ?
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18 February 2024 | 6 replies
This will be of little concern to you, the buyer.One last note, the trustee has no legal obligation to reveal to anyone who the beneficiary of a trust is.
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17 February 2024 | 2 replies
Hello everyone my names Diego madera I’m 17 and I’ve been learning about real estate for about 2.5 year’s now I started by learning wholesaling but I haven’t taken any action this last year I learned about house hacking and fha loans I’m really gonna focus on building my credit and focus on getting my license since I turn 18 this year and I really wanna aim towards getting a triplex where I can net positive cash flow and just keep on progressing from there this is my first post that I want to hold my self accountable with
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18 February 2024 | 2 replies
Contact the utility provider and get a historical average based on the last year of use.
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18 February 2024 | 21 replies
Lastly..Gang seriously.It is frustrating how much proof I constantly need to post yet so many of you are so invreddibly stubborn so see what is right infront of you, and make decisions based on emotion/opinion, instead of Proof, Data, evidence.It truly is up to you.Want to keep struggling?
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18 February 2024 | 47 replies
See if the BRRR would work based on current rental rates (ideally last 90 days but no more than 6 months out) and what similar fixed properties are selling for.