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23 March 2024 | 10 replies
So example you get a loan for $150,000 over 3 stages.You do $50,000 of work the they release the $50,000.Sorry to hear what happened to you.
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24 March 2024 | 19 replies
And in the end didn't make me money and the loans I had on them actually prevented me from getting additional loans on other better deals.Anyway, here are the specifics:1) purchased 7/1997 @ $80k, $500 down payment, cashflow appx $150/mth as long as there were no major repairs or maintenance items, great % returns but very little $ returns.Sold 5/2016 @$67k, after about $7k rehabwas about $250/mth cash flow at time of saleOh, and it took many months to sell, therefore costing me additional holding costs with no cash flow2) purchased 9/1998 @ $71k, Similar and same area as #1 - $500 down payment, cashflow appx $150/mth Sold 4/2016 @$72k,after about $9k rehabwas about $250/mth cash flow at time of saleand also took many months to sellFor fun, I just looked up their zillow as of today and 1 recently resold for $85kNow, today, there are a lot more resources to easily research market areas, etc, so I now do more research to find markets with more demand and growth potential.
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21 March 2024 | 2 replies
So if I setup an LLC, setup a self directed 401k, transfer money from traditional IRA into the 401k, use that to take out a 401k loan of $50k, how does that work with crossing streams and tax conflicts?
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23 March 2024 | 7 replies
I am aware there are business loans and what not but how can I use it for real estate?
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23 March 2024 | 8 replies
gotta just do the maths, are both of these loans on the same property?
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24 March 2024 | 6 replies
I don't recommend doing that, however if you just got the loan, chances are the interest rate is in the 7s, so they probably aren't going to be trying to call it in anytime soon!
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21 March 2024 | 1 reply
Looking for a way to get property for business that can essentially operate from a 2 car garage.So options are anywhere from FHA-SBA-USDA-A piece of grass and a metal building-seller financing-CDFI'sI like the look of USDA loans but, anyone experience with them?
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23 March 2024 | 10 replies
I was hoping to hear some of the common lenders or institutions that my fellow canadians might commonly use for hard money loans.
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23 March 2024 | 10 replies
Go DSCR and up the LTV to 80% if it will debt service if not keep it at 75%.Second option is get a portfolio loan you are buying more then 3 properties.DM with any questions if you want to understand blanket portfolio loans.
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23 March 2024 | 1 reply
After buying a property via DSCR loan with an un-nested LLC, can I legally move that LLC into my corporate structure so it would be owned by a nested LLC?