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3 July 2024 | 13 replies
I'm frustrated because I care about my property and the happiness of both parties that I'd like to continue to do business with.
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1 July 2024 | 4 replies
- Has the firm been in business for a while?
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1 July 2024 | 1 reply
I haven't done any deals yet here in OK, as I've just recently decided to add wholesaling to my business.
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28 June 2024 | 4 replies
I am currently on an H2B non-immigrant work visa in the hospitality sector and am legally not allowed to have another job other than what is stated on my visa/petition.
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1 July 2024 | 3 replies
To me it looks really solid but the only thing that matters is your business plan and how you set up your goals that will determine if it is a good deal for you.
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1 July 2024 | 5 replies
We have built a successful business and are looking to expand in the future.
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2 July 2024 | 11 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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1 July 2024 | 6 replies
Each option has its pros and cons that can impact your investment strategy and overall success.HELOC (Home Equity Line of Credit)Pros:Lower Interest Rates: HELOCs typically offer lower interest rates compared to hard money loans.Flexible Terms: You only pay interest on the amount you draw, providing flexibility in how much you borrow and when.Revolving Credit: As you pay down the principal, the available credit replenishes, allowing you to use it for multiple projects.Longer Repayment Periods: HELOCs often have longer repayment periods, which can make managing payments easier.Cons:Qualification Requirements: HELOCs require good credit and sufficient equity in your primary residence.Secured by Your Home: Your primary residence is collateral, which means a default could risk your home.Variable Interest Rates: HELOCs often have variable rates, which can increase over time.Hard Money LoanPros:Easier Qualification: Hard money lenders focus more on the property’s value and potential rather than your credit score.Speed of Funding: Hard money loans can be approved and funded quickly, which is beneficial in competitive markets.Flexible Use: These loans are designed for real estate investments, making them suitable for purchase and renovation costs.Cons:Higher Interest Rates: Hard money loans typically have higher interest rates and fees compared to HELOCs.Short-Term Loans: They usually come with short repayment terms (often 12-24 months), requiring a quick turnaround on your project.High Fees: Origination fees and other costs can add up, increasing your overall project expenses.For a BRRRR strategy, a HELOC might be the better option if you qualify and have sufficient equity in your primary residence.
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30 June 2024 | 4 replies
Just starting this process, but are their agent who simply deal with laundromats… or should we deal with a business broker?
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1 July 2024 | 2 replies
Note that I have 40% overall equity in my properties, 100% on time payment, very good care of the business.