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22 July 2024 | 4 replies
It was an old house and it was costly to keep it to the standards for Sec. 8.
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22 July 2024 | 19 replies
But it has been about 2 weeks since the seller passed and the seller's estate has not given any information to my relator or the title company.Given that the estate is contractually obligated to the sale & that I have money tied up in the deal (earnest money, home inspection cost, interest), I am looking for advice to move this forward and/or a suggestion for a real estate attorney in Cincinnati.
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22 July 2024 | 0 replies
This saves me a ton in material costs.
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18 July 2024 | 5 replies
How much is the installation and how much does it increase rents?
19 July 2024 | 4 replies
I'm currently looking into the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) and need some advice on structuring a deal for a house that's in foreclosure.Here's a brief overview of my situation:Property Value: According to Zillow, the house is worth $649,500.Current Loan Amount: $470,000, which is the current market value without any repairs.Funding: I'm looking for a hard money lender to cover 100% of the purchase cost and rehab cost.Tenants: I already have tenants in place.I'm working on getting the exact numbers for the rehab costs, but I would appreciate any advice on how to structure this deal effectively.
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20 July 2024 | 29 replies
Flexibility is an important consideration.If you hear 7.5% DSCR rates, that probably has 1%-2% in discount points (up front closing costs to buy the rate down), a 4-5 year PPP, and it probably assumes a perfect rents/payment ratio.
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23 July 2024 | 12 replies
They want instant gratification.It's a cold world though, you ain't getting that without a cost.
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22 July 2024 | 4 replies
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
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20 July 2024 | 15 replies
Now, take that to 80% and drop the credit score 50 points and the rate increases by quite a bit, but generally, you're looking at a higher rate for non-QM.
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22 July 2024 | 10 replies
The major factors like the roof, furnace, plumbing, electrical upgrades, and foundation repairs are all examples of costly expenses you'll want to inspect before closing the deal.