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9 May 2024 | 11 replies
Most work this way: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
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9 May 2024 | 8 replies
Unlikely.80% of our landlords use Excel or bar napkins or some combo. 60% of our small business owners are single-shingle "one man bands," and they too use Excel.QBO, Waveapps, Freshbooks, Stalebooks, SloppyBooks, Xero, One and all the others are nice to have but not must haves until you have several rentals or complex rentals (such as a strip mall or something).
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9 May 2024 | 1 reply
The “limitation” (or maximum, which I believe you’re referring to) applies to the individual / employee, not to the business.
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9 May 2024 | 7 replies
That's a business purpose loan that doesn't allow owner-occupancy whatsoever, and you sign a document at closing agreeing to this.
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9 May 2024 | 13 replies
I can't speak on behalf of Detroit, but in Atlanta, the flipping business is highly competitive.
8 May 2024 | 2 replies
Hello Everyone, I am interested to see what credit cards you all have used for your business that have the best perks/rewards.
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10 May 2024 | 18 replies
Hey @Philip Coiro Great to hear that you're planning to scale your business via Outbound marketing!
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10 May 2024 | 15 replies
Over my 20+ years in the STR business, I have worked with hundreds of Canadians and it is a very easy transition.
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9 May 2024 | 9 replies
I am very disappointed by this, but I guess Intuit no longer wanted my business!
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8 May 2024 | 7 replies
If the projected tax savings outweigh the cost of the study within a reasonable timeframe, it may be worth pursuing.Given your qualifications and involvement in the property, you likely have a good understanding of its components and renovation costs, which can facilitate the cost segregation process.