
30 December 2021 | 5 replies
Preliminary history: Land originally bought vacant and with no entitlements for $1,500,000 (free and clear).Entitlement planning costs: $250,000Construction Documents costs: $350,000Total All-In Expenditures so far: $2,100,000 (land + soft costs) After obtaining entitlements and general market appreciation, the value of land is indicated at roughly $2,500,000Basic Rough Math (not actual numbers): Cost of Construction: $10,000,000Market Cost of Land (free and clear): $2,500,000Total Project Cost: $12,500,000Financing Needed: $10,000,000 (assume all FFE, interest reserves, contingencies, hard costs, etc. are included)Financing Assumptions: Loan to Cost: 85% (SBA)Maximum LTC Loan Amount: .85*$12,500,000 = $10,625,000Equity Required: 15% = .15*$12,500,000 = $1,875,000 (Equity in land exceeds this)Actual LTC = $10,000,000/$12,500,000 = 80% Based on early conversations with a lender, they indicated a cash injection would still be required.

8 December 2021 | 0 replies
When using the fix and flip calculator where would I capture the downpayment used to obtain a mortgage to acquire the property?

8 December 2021 | 2 replies
Home inspection is training and certification and guaranteed pay while learning a crap ton about homes along the way.

8 December 2021 | 5 replies
Do you take the deal knowing you will be able to obtain more favorable financing at a certain date in the future?

17 August 2022 | 42 replies
Whatever you do, DO NOT FORGET TO GET ESTOPPEL CERTIFICATES.

30 July 2022 | 6 replies
Any list of potential leads you obtain for free is worthless, quality lists of say 1,000 contacts cost around $1500.

16 August 2022 | 49 replies
Most contracts allow the buyer to do their due diligence prior to closing on the property, including conduct inspections, review disclosure documents and public records, receive title work showing clear & marketable title, have the property appraised, secure financing, obtain homeowner's insurance, make sure the property is in the same condition at closing as when the offer was accepted, and a variety of others.

9 August 2022 | 6 replies
The following clauses in the agreement seem a bit weird to me, are these normal:The Property Owner shall obtain and maintain full control of renewal of property and liability insurance coverage naming the Property Manager as co-insured, including fire and a minimum of $100,000 liability coverage; the Manager has no duty or responsibility with respect to any insurance coverage.In the event the Owner enters an agreement for sale of the property, or an agreement to list the property for sale, Owner agrees Manager may terminate this agreement immediately, without any advance notice to the Owner.This Agreement may be terminated without cause at any time by either party with a sixty (60) day written Notice of Termination.

1 October 2022 | 4 replies
I am hoping to obtain down payment assistance since without it, I would basically have no savings...basically, I am just looking for a dollar range I can strive for so I can plan accordingly.

27 December 2022 | 1 reply
Hello BiggerPockets Family, Day 5 here and consistently pursuing our Real Estate Investment Journey.As with anything in life that is worth achieving or obtaining, learning the skills necessary to achieve that successis a must.