Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Chris Colvard Can you explain labels?
8 October 2011 | 5 replies
With labels, you can find people based on one or multiple markets they focus on, the various "occupations" they may have (eg. investors who are also commercial brokers), based on their experience, and so on.For example:I want to network with investors who operate in the Los Angeles and San Diego markets, who are landlords and who have flipped at least 3 homes, you can now do that on our FIND MEMBERS page using filters.Since the filters are brand new it will take a little bit for the data to get populated, but we will be adding new labels in the near future that will allow us to all better identify ourselves for potential partners and colleagues.I hope that helps.
Belgenman Neal Newb from Abilene, Tx
9 October 2011 | 10 replies
Please take some time and watch the following interview with member James Vermillion, who started investing while serving:BiggerPockets Interview with Investor James VermillionLet us know how we can help you get things started.
Greg P. Is this a Viable Strategy with Commercial Property?
9 October 2011 | 6 replies
This lets you leverage your capital to do more deals.The refi for most investors is to get the lower rate locked in and get some cash back to invest again.If you run out of cash or have "trapped equity" and little cash left then you have to partner with other investors to do deals.I have seen it work sometimes but generally it is a mess unless you can do multiple deals with one partner instead of partnering with one investor for this project and another one for the next.The problem with partners is down the road they get different reasons for selling or exiting the property early.I don't see the refinance bank loaning up to 100% of current value and letting you pull out the 30% and get it back.What many investors do is take on a property with maintenance and vacancy issues using hard money.Fix the problems and then create a higher value for the property.In commercial the weight is given to the income approach.So if you had 50 unit building.Units rent for 500 a month but are 50% occupied.So currently 150,000 gross income yearly.Value roughly at a 10 cap at 750,000 going in.You get for 600,000 and put 150,000 in repairs fixing problems.Total funds needed is 750,000.HML says they will fund 525,000 and you put down 225,000.You work hard and get occupancy up over 6 months to 90%.270,000 gross rents with NOI around 135,000.New value at a 10 cap for refi is 1,350,000.Refi at 75% LTV would be 1,012,500.You get 262,500 back and then your original 225,000 you put down based on the new value.I hope I am making sense.
Jonathan Sher Use Cash Now?
10 October 2011 | 2 replies
You may have to seek out privtae money lenders (perhaps IRA owners) or perhaps find a local bank whom you will likely need to start doing business with and then request a portfolio loan where you can lump multiple properties into one loan package.Yes, you should be hunting for long term funding now rather than later.
Mike Cartmell Duplex Analysis
11 October 2011 | 7 replies
Instead they just want to get the pain over with as quickly as possible.You also have to find a bank that is motivated and doesn't want the property (shopped) listed by the seller to fully expose multiple offers and compete with other investors.This is why many people wholesale.They make a few k on a marginal deal and let other investors take the high risk.Then they only buy when they get a really good deal for themselves.I would say "Do not get emotionally attached to this deal and overpay because you wanted to BUY SOMETHING" Instead just treat it as a property and if someone overpays for your goals then move on to the next.Remember it is easy to build a crap portfolio with marginal returns.It is much,much harder to build long term quality properties at a great price that will create generational wealth for the your family.
Danny Day Short sale nightmare
12 October 2011 | 4 replies
Day 37 - I send out highest and best multiple offers, and get 6 more offers in.Day 40 - I get a cash offer under contract, and bank approves the contract price.
Luc M. FL SFH Inventory Being Held Back
22 November 2011 | 18 replies
Nobody seems to really know.I have seen that banks seem to be pricing REOs low enough they generate multiple bids.
Katie McCaskey Distance from first investment?
14 October 2011 | 7 replies
As far away as you are willing to drive multiple times per month if needed.For me thats about 15-20 minutes max but I really like the ones that are 5-10 minutes.
Daniel Dietz Selling property OUT of a SDIRA to prohibited party?
17 October 2011 | 6 replies
And I say that as someone who has owned multiple properties within my IRA.
Dave Lamattina Capital Advisor to assist in Fundraise
14 March 2013 | 12 replies
In my time we have used a couple and interviewed many.