Steve Bergeron
Multi family development
6 June 2024 | 7 replies
Would just like to reach out to the community for any advice or tips on getting funding to help with the project.I know typical banks will not lend for spec builds.I have completed other small Developements ( duplexes, triplex etc)I have about 20% to put into the project and the market is very strong.
Blake Ramey
Financing your first rental
6 June 2024 | 3 replies
We don't have a ton of funds so I would like to connect with someone that could possibly help us brainstorm ways to raise capital for this investment.
Catherine Ding
Finally starting my REI journey -- interested in exploring Cleveland/Columbus
8 June 2024 | 21 replies
if you buy a property at market price in a good neighborhood - you will break even or lose money.and in general, if you're serious about this, i'd recommend going to your chosen market in person, probably multiple times, to set up your team.
Wesley Bryant
What's a good IRR on a long term rental?
8 June 2024 | 1 reply
Since the S&P 500 averages around 10% annually I personally don't see a point in investing in a rental that's not going to at least beat that.
Cameron Daste
Flipping and Financing - Mortgage
7 June 2024 | 9 replies
Yep, its known as a Fix & Flip loan and you can find it on the Lender Finder feature here on BiggerPockets.The term of the loan will generally be less than 2 years and they will usually fund a percentage of the purchase price (I've seen 60-80 percent) and many times 100% of the renovation.It makes sense to have a strong idea of the reno costs prior to applying for any amount with this type of product.
Mitchell Maginnis
Financing for resort
5 June 2024 | 8 replies
I plan to use a refinance on my current cabin to fund the downpayment on the next property.
Clyde Patton
Opportunity Zone Fund
3 June 2024 | 0 replies
I am looking for information on how to structure and market property in an Opportunity Zone Fund.
Account Closed
Tenant received DCA payment after arrears agreement
6 June 2024 | 0 replies
I agree not to pursue eviction based on rent amounts reimbursed by these funds and agree to dismiss any pending eviction case that is based on or seeks to recover the reimbursed arrears.
Marshall Drum
How to finance uninsured repair? And whether to enhance while repairing?
6 June 2024 | 3 replies
The townhome has appreciated in value to about $350k (per Zillow and RedFin) over the few years I’ve owned it, so estimating $150k in equity, about 45:55 self to bank equity ownership.The townhome now has a leak that has lingered and gotten worse over the few months waiting for an insurance claim decision, ultimately being denied coverage so now I’m stuck with having to cover the entire expense.I’m also considering selling the property once it is fixed so I can take the funds from this 1 single family property in Houston to apply towards funding a possible multi-family property in Austin, TX.The quotes to fix are around $15k-$20k, which I’m not excited to just pay out of pocket, nor do I think I really can at this point in time.
Michael Greer
After winning auction, find out it's still in foreclosure
6 June 2024 | 2 replies
@Michael GreerSomething doesn’t seem rightYes you win at sheriffs sale but the sheriff and courts need to finalize the funds and who gets what and then issue the deedYes in some places this can take monthsWe had one in PG county Maryland that took 14 months for them to issue the sheriffs deed