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Results (10,000+)
Omarwali Jones Current Cheapest Market in the US?
2 November 2011 | 14 replies
Now on the other hand, if you have $3k into a house, get one tenant at $300 a month, rent for a year, its free and clear.., Taxes are high in Detroit.
Will Edgington Sub 2's and Loan Mods
1 October 2011 | 1 reply
The bank figures out that the property changed hands in the insurance department, so make sure to ad the new person on the deed as additional insured instead of switching it over all together.
Shayla James New to wholesaling......interested in foreclosures, pre-foreclosures, and bankruptcy
3 October 2011 | 7 replies
In a foreclosure the seller is the trustee or lien holder via sheriff, so if I understand this right, you were at the courthouse or other sale location with cash in hand (LA I believe requires 100% cash the day of the sale) and the seller (trustee or sheriff) "went cold"???
Bill H Why don't contractors ever stfu?
5 October 2011 | 4 replies
After numerous attempts to get one GC to stop talking, I extended my hand mid-sentence and said, "thanks for stopping by."
Mike Nelson What happens when a HML forecloses on a house?
4 October 2011 | 3 replies
Here are a few off-hand and in no particular order:1)The HML will foreclose and you will lose the house. 2)You could agree to sign the house over to the HML using a deed-in-lieu of foreclosure.
Elliot A How did you become knowledgeable in the construction/renovation aspect of flipping?
6 October 2011 | 8 replies
If you can jump in and do as much as you can yourself at first you will get a hands on feel for things.
Allende Hernandez Seller Financing - Hard to get!
12 October 2011 | 15 replies
In the other hand, those that do accept to finance want between 30%-50% down.
Allende Hernandez High risk deal, please advice
9 October 2011 | 10 replies
Of course everything has to be disclosed, the market value and the underlying loan.Also, the buyer has to be fully aware of the balloon and that he will probably has to come up with money out of pocket if he hits the balloon and the house still wont appraise.The seller, in the other hand, has to be aware that the chances of the buyer leaving at that time instead of buying are high.
Greg P. Is this a Viable Strategy with Commercial Property?
9 October 2011 | 6 replies
Greg it will depend on the portfolio of the bank and how many performing versus non - performing assets on the books.The bank might not want to refi that type of product with too much of that type of asset class non-performing on the books already.They might have too much defaulted commercial all together.For value add plays typically occupancy is an issue.The lenders will want certain occupancy levels obtained for at least 3 months depending on loan type and typically stabilized for 6 months to a year or longer.If you buy an apartment building at say 50% occupancy using a hard money lender or private money and the going vacancy rate is an average of 10% then the lender wants 90% occupancy averaged out over time.When you refi you will only be able to go up to a certain percentage to cash out or can just convert with no cash out to the lower interest rate.Regular banks do not lend usually on sub par occupancy levels for the area.They see it as too risky and the say 60% occupancy can quickly go to 30 or 40% and they have a foreclosure or short sale on their hands taking a loss,plus inspection reports,attorney fees,appraisal and environmental review etc.
Ozzy B. Investment Ideas, deed Investing, HML, MFR
11 October 2011 | 10 replies
IMO, none of these investment activities are good as totally hands off operations.If you don't vet every loan, you will end up with some very bad ones.