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30 March 2018 | 3 replies
I do have access to 60k plus some more private money if needed for a deal.My internal debate is that im feeling quite spread thin between holding a contsrtuction job, learning how to be an agent (and get that business going), as well as attempting to purchase a fix and flip(s) in order to buy and hold.
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7 May 2019 | 9 replies
the biggest risk mitigator of all is INFORMATION.
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31 March 2018 | 61 replies
Federal Law: Fair Housing Act ExemptionsSingle-family homes rented without the use of a real estate agent or advertising are exempt from the federal Fair Housing Act as long as the private landlord/owner doesn’t own more than three homes at the time.Apartments of four units or less are also exempt if the owner lives in one of the units.
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30 March 2018 | 7 replies
I have one in Oregon that is just under 10 million and typical hard money rates are being quoted.. however frankly if you still cant make nice profit paying for HML or private money then the deal is probably to tight. if your talking 10 points and 20% then ya that would be a little bit high.but 2 to 5 and 10 to 14 is in the all park.. for a HIGH risk horizontal loan.I just did one personally ( i was the lender) in Orlando and we were up there on the top end of what i am talking bout 30% apr but the developer snag a great deal and will still make a few million on it while paying me 100k for a 700k loan he used for 7 months.. that seemed fair all around..
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1 April 2018 | 3 replies
My dad and i have a private lender for a house we are remodeling next door to our house. we could move next door into the house we are remodeling and rent the current house we live in(without rent to own). then use the rent money to pay the private lender for the money we will need to borrow for the subdivision.
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31 March 2018 | 3 replies
Also, even if a lender on Bigger Pockets can do those things the lenders are not allowed to say it....since that would be considered advertising to the rules of Bigger Pockets...I think they are allowed to private message you though.
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31 March 2018 | 6 replies
Finding a good contractor in my opinion is the biggest challenge for new investors.
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2 May 2018 | 9 replies
I am looking for some learning resources how to do what I explained and emphasized in my first post what are the biggest challenges for me (see quoted sentences).3: I apologize but i disagree here.
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29 June 2019 | 4 replies
Pros:Strong cash flowMajor affordable housing shortage in the countryBarrier to entry - zoning prohibits new parksPride of ownership - the residents own the homeLower operating costs - the residents own the homeLower touch - the residents own the homeSticky residents - costly to move a homeEasy to raise rents - costly to move a homeRecession resistant asset class - affordable rentLarge private equity funds are entering the space - drive prices upMom & pop ownership - opportunities to improve NOI and valueLower entry cost per door - less capital neededCons:Not sexy - smaller resale pool (but that's changing)Stigma - some counties try to stop operations (poorly operated parks, criminal activity)Stigma - some people don't want to live in oneLower credit quality residentLess appreciation potential, unless forcedNiche investment - helps to have scale to properly operateMany banks don't understand it - tougher to financeOlder assets in many cases
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2 April 2018 | 4 replies
I am currently working to get some hard money and possibly private money going.