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29 October 2021 | 4 replies
Price point, area/location, individual investors abilities or finances, individual investor's risk tolerance or business plan, level of rehab, etc.As an example, the 70% rule (more appropriately should be named "70% guideline), is a simple back of the napkin analysis and is NOT ever to be used to make your final purchase decision.
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10 November 2021 | 23 replies
I also want to know and understand what is happening in unit and finally and super important - i learn by watching....
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28 October 2021 | 4 replies
I've not been able to receive any insurance pay-out yet (from HO-6 or master) as my HO-6 adjuster needs to know how the master deductible will be "split" - a decision that I fear won't be finalized until each of the (four?)
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30 December 2021 | 4 replies
Instead, they just stopped paying their mortgage and didn't receive a foreclosure notice for almost two years because they only had about $150K in equity.And when they finally reached out to bank to renegotiate payments, the bank worked with them because the bank could see the market was still plummeting and that they likely wouldn't be able to sell the house for $500K much less the difference of $600K.On the other hand, their neighbors would refinance when rates dropped but they never took out any equity over 20 years.
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28 October 2021 | 4 replies
Right now I feel like I shot myself in the foot with a $35,000 income increase.I did finally talk to a lender today that seems to understand REI.
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28 October 2021 | 5 replies
You also need to the resources to do the renovation and also qualify for the final loan.Another way would be to buy the MFH first, live in it, renovate one unit, move into the renovated unit, then renovate the other unit(s).
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28 October 2021 | 9 replies
Some folks know how to stretch a dollar.
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3 November 2021 | 5 replies
The attorney requires a final payoff amount to the hard money lender.
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8 December 2021 | 48 replies
Back to now, there is still a chance this current tenant might leave, she says she just doesn't know if she can finalize her purchase which makes me nervous because obviously i want to know if she is leaving or staying especially after she made me list the unit and go through all the work of finding a new tenant.
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28 October 2021 | 0 replies
But after a few years of talking to her about it, I have finally convinced her to use the equity in her house to buy more real estate.