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22 January 2020 | 14 replies
@Brandon WoodFor a first deal, you did just fine.Someone, let's call him Joe, with more experience, knowledge of their market, buying power (including history of volume with property managers, contractors, agents, and title companies) can do a deal more efficiently than you can at this point.
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22 January 2020 | 11 replies
If you are a cash buyer that is helpful but again, a good Realtor can provide comps quickly and efficiently.
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22 January 2020 | 10 replies
If you are not familiar with the concept it is in essence using your primary residence as a very efficient real estate investment -- check out @Craig Curelop awesome book on it.
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27 January 2020 | 9 replies
What systems do they have in place to ensure you have transparency into your investments at all times?
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23 January 2020 | 3 replies
Also, as said above, the houses you're buying for BRRRR are usually in awful shape and won't qualify for a regular loan. cash or equivalent up front is the most efficient way.
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30 January 2020 | 3 replies
The borrower and the security (the asset and docs associated with it).As a lender, you want to ensure the borrower has a performance history, can show skin in the game (some of their own capital placed into the investment), and has experience in performing on the particular investment.For the asset, you need to make sure your a LTV (loan to value) does not exceed a set amount you choose to give you “cushion” in the event the deal goes sideways and you need to take the property back.Your loan docs are also important and should include all the things you need to protect your investment such as a deed of trust (or mortgage in mortgage states), promissory note, balloon rider if the loan is not a fully amortized loan, personal guarantee rider (which is only worth something if the borrower has personal assets to go after), etc.For the asset itself, you need to know the strategy (buy and hold or fix and flip) verify the condition and amount of repairs, know the current market value and future market value after repairs, and have a plan in the event you need to take the asset to recoup your investment.
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25 January 2020 | 7 replies
Landlords will not be allowed to ask about an applicant’s criminal history, or require the applicant to disclose it through a background check.Supporters say the measure will help ensure residents released from prison are able to reintegrate back into society, hold down a job and provide for their families, instead of adding to Oakland’s homeless population.
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19 February 2020 | 15 replies
Unsure what you mean about efficiency.
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23 January 2020 | 13 replies
To make BRRRR work, you have to get a worthwhile property at a discount, and rehab it efficiently and economically.
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22 January 2020 | 1 reply
Once you trust him then you'll only have to do periodic checks to ensure quality.