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9 August 2024 | 5 replies
Hi Jasmine,Mynd is a traditional full-service brokerage.
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10 August 2024 | 8 replies
Typically, you see full-service (gross) leases being used for CBD office buildings, but most of the retail centers in my market are on a NNN lease.
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9 August 2024 | 4 replies
The cash out does depend on a few things like neighborhood appreciation with strong sales or renovate and refinance on the ARV (After renovation value).When you buy a 2-4 unit you get to use the rents of the other doors as income to help you qualify.
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5 August 2024 | 9 replies
Howdy Folks,I want to create options for my sellers moving forward to help ease them into the possibility of providing private seller financing for buyers.I have come up with a list of 3rd party loan servicing businesses, but I also want to provide a software option where the seller can more directly manage the loan.First, let me share the list of 3rd party servicers (please let me know if an awesome player in this space is omitted):Evergreen Note Servicing | Note Servicing Made SimpleFCI Loan Servicing - Loan Servicing Programs for Lenders of any size.Loan Servicing - Weststar MortgageNoteSmith HomeMortgage & Note Servicing - Note Servicing CenterWelcome to Statebridge - Statebridge CompanyLogin - AlliedServicing CorporationI really have not found any good software solutions that would fit well with a seller who may have just one private loan to manage.
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10 August 2024 | 2 replies
I would not do the work without either a contract to do the work or some type of interest in the property whether it be through some type of novation agreement, contract for deed or straight sale to you.
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9 August 2024 | 16 replies
Quote from @Dane Reynolds: My policy is that you should never sell a property unless you can move the money into a better investment or the sale moves you closer to your goals.
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8 August 2024 | 2 replies
I put some numbers below into this Rent or Sell calculator.https://www.narpm.org/members/resources/rent-vs-sell-calculator/ESTIMATES ON ROI (15 year time frame)at 5% Appreciation would profit $100K if SELL nowat 6% Appreciation would have $3,500K more if KEEP and sell after 15 yearsat 7% Appreciation would profit 122K if KEEP and sell after 15 years(Assuming a conservative 6% ROI on money invested from sale.)NOTE: The property appreciated 10% in the last year so I’m thinking 7% over the next 10-15 is reasonable.DETAILSSale Value: $520,000 (Best guess)Paid: $437,000Original Mortgage: $415,000Mortgage Balance: $380,000Interest: 3.375%Monthly mortgage: $2,899Mortgage Difference: $1064Annual Taxes, Insurance, HOA etc**: $20,345**$13,865 (Non Homestead tax) $4,680 (HOA) $1,800 (Landlord Insurance)Monthly Rental Charge $3,500*Appreciation 7%Years to Hold: 15More assumptions used in ROI Estimates Above90% occupancy,15% capital gains charge6% selling feeRate of return on gains if selling now instead 6%Annual maintenance 1%Annual rent increase 4%$3,500 is slightly aggressive. unlikely I could get more.Thanks in advance for any constructive thoughts and comments!!!!
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8 August 2024 | 19 replies
. :) If anybody can recommend an efile service for CA that would be helpful.
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7 August 2024 | 23 replies
Since buyer representation was created in the '90s, the buyer side commissions have essentially been "rolled into" the sales price most of the time.
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11 August 2024 | 5 replies
We don’t quite have the time/resources to do a total renovation, but we were always hoping to house hack in a decent multifamily that we could do some cosmetic upgrades on and could hold and sell down the line after he moves from Ft.