Tory Kelliher
New Investor - Massachusetts
26 April 2016 | 7 replies
I have been reading books, BP blogs, and listening to BP podcasts regularly.
Scott Taylor
Possibility of Financial Independence via Real Estate
9 May 2016 | 17 replies
But of most of the deals I've analyzed, (assuming I'm budgeting for safe 10% maintenance and "regular" rates of tenant vacancy - 5% or 1/20 months), there's no way to achieve those sorts of returns, even with a 80% LTV leveraged position.So am I missing something?
Mat O'Grady
Range ventilation needed?
8 May 2016 | 3 replies
If you have made any effort to reasonable air seal the building envelope, then you need the range hood to extract stale air and humidity as a regular air exchanger will not typically be able to adapt to accommodate cooking.Even if your house is not tight, it is still appropriate to properly vent the cook top to prevent moisture damage and grease build-up on the ceiling above.
PJ Singh
Mold issue in bathroom shower
31 May 2018 | 10 replies
deal with this type of issue on a regular basis.
Bradford Ortlund
203k Loan Questions in Los Angeles
22 April 2021 | 23 replies
HI Bradford,Most lenders can do the 203k FHA streamline or full K / standard program or the home style conventional loan program.The problem is most have not done a rehab loan program or have construction experience or the process on the lending paperwork side.There is quite a bit of paper work such as:- scope of work + revised scope of work or adjustments- consultant review depending on the depth of your construction project and work being done- resume for contractor- certain lenders have requirements for contractor experience such as you cant GC (general contractor) your own project and such- reserves or margin of error in the project such as the 35k streamline 203k loan which only leaves about 28-30k of actual construction cost with the remaining 5-7k for reserves and contingency- only 203k standard FHA can finance your carrying costs (so you dont have to make a mortgage payment during your 6 months of construction)- Home style conventional rehab loan cannot have a project that is more than 50% of the after improved value (meaning your rehab cannot be 250k on a 450k valued project after you finish) youd have to lower your rehab to 225k or less in this example) This is not limited on 203k products- much moreAfter the construction details and process theres the typical financing aspects which include regular FHA or conventional qualification guidelines.The rule of thumb though is to qualify for way more than you need or to do a max purchasing power assessment to see how much borrowing power we have to ensure we have enough room to budget for the 1) purchase, 2) rehab / construction budget, 3) reserves and contingency budget to fit in loan approval criteria.Let me know if you have any questions on what to look out for.
Mitra Samon
Proof of funds: too much money??
14 May 2018 | 8 replies
My regular bank has informally pre-qualified me but cant give a letter w/o credit pull.
Account Closed
Purchase Process: First Out of State Property
21 May 2018 | 9 replies
If you want them to visit the house regularly to monitor it, no.You need a Property Manager.
Ben Kirchner
Durham Airbnb market?
22 October 2017 | 3 replies
It does seem like a regular rental in that, if you buy correctly and manage correctly, you can profit very well.
Nicholas Q.
Sewer Replacement - Help!
3 January 2018 | 3 replies
In the meantime, I am paying a plumber to regularly blowbag the line to keep it flowing.Any recommendations for next steps would be greatly appreciated.
David Lowe
Pros & Cons To Investing in Palm Springs / Joshua Tree
3 September 2018 | 6 replies
I recently just started doing down to Baja recently and am going fairly regularly now.