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25 May 2024 | 14 replies
In the first stage of this process, you must underwrite it to ascertain its highest and best use and financial performance.Conducting this analysis sets the stage for securing a purchase contract with terms and conditions aligned with the timing and budget of the planned project.
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23 May 2024 | 12 replies
We create a Joint Venture Agreement with the Homeowner and then file a Notice of Interest against the home as our security.
25 May 2024 | 2 replies
@Richard Hoyte I haven’t been able to take advantage of any low down payment loans so have been stuck needing 20% down on every deal plus closing costs and cash reserves.
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23 May 2024 | 35 replies
But the buyer wants the property at zero down.First leg:-- Buyer secures a loan (1st position) for $350K and sends to title company (this is the amount needed to pay off sellers loan + their required cash at close)-- Buyer also sends $650K cash to the title company (can put in your own cash, or do a temp loan from a transactional lender)-- First leg of txn is now complete, and the $1M stays at the title company (this is bc you customized escrow instructions upfront to instruct them how to disperse money before escrow began)Second leg:-- Buyer and Seller enter into an agreement through an LLC which allows them both to be on title, and seller agrees to seller finance the buyer $650K of the purchase price (on whatever terms they agreed on).
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25 May 2024 | 13 replies
-Finding private money: If you can find a very good deal then connect with a family member or friend that could lend you what you need for a hard money loan or to lend you the full amount.
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25 May 2024 | 11 replies
(i have not negotiated price any as of yet)$6533 loan pymt mth.
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23 May 2024 | 9 replies
You best choice may be a secured loan in the US.
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24 May 2024 | 5 replies
Get a security system installed.
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25 May 2024 | 5 replies
I owe 400k on the house, so about 300k worth of equity just sitting there.1.I can get a HELOC and use the money for BRRRR, the problem is, I can't find anyone that is giving out loans for investment properties, I have tried most banks, up to PenFed, nothing so far.2.
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25 May 2024 | 3 replies
There are a few reasons for this: 1) They are costly and the Exchange intermediary may require a whole host of inspections including environmental reports etc and 2) One has to come up with the cash to buy the new property without getting the equity out of the first property - not everyone can do that - add in having to get a loan while still being obligated to the loan on the “sale” property.