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9 January 2018 | 1 reply
I’m not aware of an iPad specific app, but I assume the iOS app will work on a larger screen.
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13 January 2018 | 12 replies
How important are the terms, (pre pay, fees, non-recourse, I/O, etc.) vs proceeds?
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18 January 2018 | 0 replies
We're looking for feedback from both Android and iOS users.
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24 January 2018 | 3 replies
The owner of the building is willing to hold an IO note as a second (if we can or can't go SBA) for some of the money if we would like.
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24 January 2018 | 4 replies
Details:PROPERTY(S): 5 Residential Units / 1 CommercialPURCHASE PRICE: $575,000Loan Amount: $427,500 ($402,500 Rehab holdback + $25,000 toward Rehab Cost)EXPENSE DEPOSIT: $3,995Value at Least: $625,000Origination: 4% of loan amount – Paid at closing LOAN TERM: 12 months w/ 6-month ext TITLE INSURANCE: PAID BY BORROWERAmortization: SelfINTEREST RATE: 10.99% I/O LOAN: $3,912The property cash flows $7,315 and my expenses would be $6,509.08 = $805.92 (income) FYI: RE-FI would be 5% either on a 15 yr or 30 yr loan I have to come up with $172,500 as well as $17,100 for closing & $3,995 Expense Deposit = $193,595 If I can have a second pair of eyes on this deal to help me with any concerns that I may not see.
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28 January 2018 | 10 replies
Might want to see if your buddy would go for i/o payments (also, is 33.5% usury?).
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17 December 2021 | 52 replies
The term sheet I have from CoreVest is 9.95% IO with 2 points per advance (per deal).
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24 October 2017 | 1 reply
You are correct the Interest Only (IO) payment would be a lower payment but there are some other important items to know about.
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6 December 2017 | 1 reply
@Mike Henkel, from the financing perspective, depending on the loan product that fits best (lots of variables) doing a slow build may have drawbacks as some products have I/O periods that are designed to help you with the cashflow challengers that are expected as the property is built.