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16 May 2024 | 6 replies
Maybe I could alter my proposal so that they never actually have to put up the cash, but instead just earn a fee for reselling for me.With the put option, I am essentially acting more like a bank for them and freeing up capital that they now have tied up in these loans.
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16 May 2024 | 12 replies
It’s actually better that it’s out of probate as many lenders won’t touch it if it is!
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16 May 2024 | 5 replies
Of course they weren't out and actually told me that July rent was paid and if I moved forward with removing them from the unit they would file a law suit against me for an unlawful eviction.
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16 May 2024 | 2 replies
There is a special approach to doing that and you have little competition when you focus on those.I hear you, if the valuation is right then it's great, but there has to be some meat on the bone to actually get a good deal.
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16 May 2024 | 4 replies
I've personally worked with a handful of "investor-friendly" lenders, primarily on DSCR loans in recent years, and each time I've run into significant delays, lack of transparency about the process, have been fed the requirements in a piecemeal fashion (every few days there's a new random request rather than having it all organized from the start), and have even run into lenders who were substantially misinformed about the real estate industry or the laws that govern it on both a local and federal level.I think there should be a better site to encourage accountability by tracking how long it actually takes each lender to close their loans on average, and what unexpected hurdles investors encounter when trying to work with them.I can't seem to find such a site.
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16 May 2024 | 3 replies
I've been wondering the same thing actually.
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16 May 2024 | 5 replies
You only need to do a 2d site plan (which you can do with this software), but I chose to use this software because I wanted to create a 3d floorplan to see what the space would actually look like when you're inside.
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14 May 2024 | 5 replies
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
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14 May 2024 | 21 replies
And if a group is out there projecting that 20% IRRs are still achievable for a typical value-add play, I get very suspicious, and ask for a lot of "projections vs actuals" on current deals to confirm their assumptions.thanks Evan Can you give me an example of ”projections vs actuals”?
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16 May 2024 | 20 replies
For residential, compare the actual rents (*not* rents suggested in a proforma) with properties currently for rent and with historical rents for similar properties using sites like Zillow and Rentometer.