Hello- I have a. situation that I need some clarification and understanding.Situation: My wife is the Conservator and legal guardian of her mother who is in memory care. In order to help finance the care, we are curre...

Have you calculated what your (monthly nut) is you need to survive business wise and personally?

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Personal guarantees are EXTREMELY common.

I would network in person or in FB groups. 2-3 months to close is crazy.

I spent many years managing myself and personally collecting rent checks. 

I am personally buying a lot in Casa Grande, Arizona.

We make people take photos of themselves holding their ID and then I also meet them in person for the showing - at least for my units on the NW side of Chicago.I've never heard of these testers, but I am not surprised. 

Awesome to see a new investor-minded person here.. do you have a favorite real estate success story already?

Therefore, it is advisable for the client to consult with their CPA to receive personalized guidance tailored to their unique financial situation.