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20 January 2020 | 5 replies
My private money lenders have put all their loan amounts on the HUD/Closing statement - that way they ensure they get paid when we refinance or in the unfortunate event we don't pay the loan.If these are smaller amounts for repairs, my private money lenders still require it to be on the HUD/Closing statement but they'll cut me a check(s) throughout the rehab.
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22 January 2020 | 5 replies
Safety is also a primary concern for us, which I know can vary significantly in this area.
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29 January 2020 | 18 replies
The expenses to safety run the property as a rental add up.
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18 January 2020 | 5 replies
Here are the specs:6 unit brick multifamily Apt building-priced at 569,000- negotiated down from asking 600,0006-2bd/1bth apts currently does 4700 per mth-rent currently about 20% under market at the start of due diligence was 100% occupied-That is what I based my offer on building performing at 100%tenant just gave his 30 day notice -so before closing the building will have 1 vacancy performing at 84%The inspection also turned up 15k of safety violations I believe both are points of renegotiation-I'm just not sure how much is my question-I was going to ask for 15k of a closing concession to cover the safety issues-but how much is considered acceptable/reasonable to decrease the price for the vacancy?
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23 January 2020 | 23 replies
He had to pay his deductible and the cost of the new pipe, but they paid for the concrete cutting & replacement, drywall, paint, etc.
17 January 2020 | 12 replies
The short answer for flipping is similar but farther extreme; buy even lower and cut a bunch off the expected sale price.
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18 January 2020 | 13 replies
I buy them directly from the owner, cutting out the RE commissions.
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22 November 2020 | 10 replies
Cut all of your expenses as low as you can and look into moving the credit card debt into a 0% interest balance transfer card or account.
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17 January 2020 | 7 replies
Certainly, if someone who is already on the GP team raises funds they will have that in their favor as the GP pie gets cut, but what if we have another colleague who has contacts (who we don't currently have a relationship with) who are interested in coming in on the deal?
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19 January 2020 | 5 replies
I'm in the Orlando area and find that the best deals are often at the commuting distance edges of town.